Serbia Trade Deficit Narrows in July

Serbia’s trade deficit narrowed to USD 746.8 million in July 2026 from USD 849.0 million in the corresponding month of the previous year. Exports rose 6.3% year-on-year to USD 3,488.8 million, supported by higher shipments of capital goods (31.3%), non-durable consumer goods (2.5%), intermediate goods (2.1%), and durable consumer goods (19.7%), while energy exports (-22.8%) and goods unclassified by MIG destination (-28.7%) declined. Meanwhile, imports increased 2.5% to USD 4,235.7 million, driven by higher purchases of capital goods (8.8%), durable consumer goods (19.7%), and non-durable consumer goods (4.9%), while energy imports (10.0%), intermediate goods (3.0%), and goods unclassified by MIG destination (2.7%) also rose.

Serbia’s trade deficit narrowed to USD 803.3 million in March 2026 from USD 969.1 million in the same month a year earlier. Exports rose by 25% to USD 3,918.1 million, driven by increased shipments of capital goods (56.7%), intermediate goods (26%), and non-durable consumer goods (10.5%). In contrast, energy exports fell sharply by 36.7%. Imports also increased, rising 15% to USD 4,721.4 million. Growth was supported by higher purchases of capital goods (25%), intermediate goods (23.2%), and durable consumer goods (16.6%). Meanwhile, imports of non-durable consumer goods declined by 5.4%.

Serbia’s trade deficit narrowed to USD 199.4 million in January 2026 from USD 504.7 million in the corresponding month of the previous year. Exports rose 6.4% year-on-year to USD 2,753.8 million, supported by higher shipments of capital goods (35.7%) and intermediate goods (18%), while shipments of energy (-32.2%), durable consumer goods (-4.0%), non-durable consumer goods (-2.3%), and goods unclassified by MIG destination (-18.2%) decreased. Meanwhile, imports declined 4.5% to USD 2,953.2 million, primarily due to lower purchases of energy (-23.2%), intermediate goods (-1.0%), capital goods (-5.6%), durable consumer goods (-2.2%), and goods unclassified by MIG destination (-0.2%), while imports rose for non-durable consumer goods (5.2%).