ABOUT THE TRADE IN SERBIA

The economic space of the Republic of Serbia is open and free, and the most important economic sectors are energy, automobile and machine industry, mining, and agriculture.

Serbia's total export potential is 1.3 billion consumers in trade agreements with the EU, the United States, Russia, Japan, and Australia are counted.

The identified strategic priority sectors in Serbia are the automotive industry, ICT, food, metal and machinery, textiles, wood, and aerospace.

The most important foreign trade partners in terms of exports/imports are Germany, Italy, Turkey, and countries in the region, and among the Asian countries, Japan and China stand out.

TRADE RELATIONS BETWEEN JAPAN AND SERBIA

Japan is a world leader in the production of automobile components, electrical and mechanical devices, while Serbia is among the leaders in the production of quality agricultural products.

The largest trade exchange in the past few years between Japan and Serbia was in 2020 with the amount of 212.97 million euros. According to the data of the Ministry of Foreign Affairs, exports from Serbia amounted to 83.2 million euros (an increase of 62%), and imports from Japan to 129.76 million euros (a decrease of about 10.5%).

In terms of exports in 2020, a record value of exports to Japan was recorded.

Some of the most important Japanese companies present on the market of the Republic of Serbia are Asahi Food and Healthcare, Canon, Itochu Corporation, JTI, Mitsubishi Corporation, Toyo Tires, Yazaki and others.

The relations between Japan and Serbia are not exclusively economic, but common values ​​and interests are also nurtured.

TRADE SECTORS

AUTOMOTIVE INDUSTRY

The automotive industry is one of the most prominent sectors in Serbia, attracting almost 10% of the total amount of FDI since 2001. Its contribution to exports is exceptional, which now records an increase of as much as 18%.

The automobile industry of Serbia has a tradition of more than 70 years, and its beginnings are related to 1939 and the production of cars under the FIAT license. Even today, the FIAT project is the largest and most important investment in this sector. The automotive industry of Serbia supplies almost all major European and some Asian car manufacturers with its products, mostly chassis parts, suspension parts, and electrical components.

IT / ICT INDUSTRY

Serbia is increasingly recognized for its exceptional number of qualified experts and developed communication networks. As many as 1,600 innovative information companies, which employ more than 14,000 people, are located in Serbia. Information and communication technologies are one of the main pillars of the domestic economy. In terms of exports, Serbia ranks 40th on the list of the world's largest software exporters.

FOOD INDUSTRY

Serbia is characterized by one of the cleanest soils in Europe, where the natural conditions for growing crops are ideal. Of the over 6.12 million ha of agricultural land, as much as 60% is arable. The food industry is one of the most attractive industries, attracting more than 13.1% of FDI in the past 20 years. Food produced in Serbia, such as truffles, raspberries, apples, corn and jams, is exported and is present all over the world, from Japan to the United States.

TEXTILE INDUSTRY

Today, the textile industry sector has about 1,800 active companies with more than 47,000 employees. The production of textiles and clothing has a long tradition and has been one of the main fields of export for many years. Foreign investors are determined to invest in the textile industry of Serbia because of its high-quality products, skilled labour, and relatively low costs of services. The most important partner countries of Serbia in the field of textile industry are the EU member states (Italy, Germany, France, Austria, and Slovenia), followed by the Russian Federation, Turkey, and China.

METAL AND MACHINE INDUSTRY

The metal and machine industry is one of the most important areas of the Serbian economy with the longest tradition. This industry is characterized by internationally recognized quality and competitive prices and it participates with 6% in GDP. Most of the companies that make it up are export-oriented, and the most important export markets are Italy, Germany, and other countries in the region.

PHARMACEUTICAL INDUSTRY

Pharmaceutical industry contributed to the highest import of products in October 2020. During the coronavirus epidemic, the Serbian pharmaceutical industry successfully provided the market with the necessary medicines and enabled stable production and unhindered imports. FDI for biomedical and biotechnological research and the pharmaceutical industry must be attracted properly; a clear signal is sent to foreign investors that the Republic of Serbia is the right place for their investments.