The Serbian Statistics Office stated today that total foreign trade in the period January–June 2010 stands at $12.19 billion, an increase of 8.2% against the same period in 2009, or €9.2 billion, which is an increase of 9% compared to the same period last year.

Exports stood at $4.44 billion, up 18% compared to the same period last year, while imports totalled $7.76 billion, which is a 3.2% increase in relation to the same period in 2009.

Expressed in Euros, exports stood at €3.35 billion, which is up by 19.4%, while imports amounted to €5.85 billion, up by 3.8% in relation to the same period last year.

The trade deficit was $3.32 billion, which is a reduction of 11.6% on the same period in 2009. Expressed in Euros, the deficit stood at €2.49 billion, down by 11.7% against the same period last year.

The export-import ratio stood at 57.2% and was higher than in the same period in 2009, when it stood at 50%.

Increased exports in the stated period were a result of the export of black and coloured metallurgy and agricultural products.

Serbia achieved the highest foreign trade with EU countries (more than half of the total goods exchange).

The largest surplus was achieved in trade with Montenegro, Bosnia-Herzegovina and Macedonia, while the largest deficit is in trade with Russia due to the import of energy sources, primarily oil and gas.

Serbia’s second largest foreign trade partner is collectively the CEFTA countries, with which it achieved a surplus of $628.1 million, which is largely a result of a larger export of agricultural products to these countries, as well as iron and steel.