REGIONAL COOPERATION AND ECONOMIC INTEGRATION

The major foreign trade partners in import in the reference period were: Russian Federation
(USD 3,492.6 million, 15.2% of total import), Germany (USD 2,704.4 million, 11.8%
of total import), Italy (USD 2,184.4 million, 9.5% of total import), China (USD 1,829.2
million, 8.0% of total import), Hungary (USD 815.3 million, 3.5% of total import), France
(USD 747.4 million, 3.2% of total import), Bulgaria (USD 746.6 million, 3.2% of total
import), Ukraine (USD 661.0 million, 2.9% of total import), Republic of Bosnia and
Herzegovina (USD 644.5 million, 2.8% of total import) and Romania (USD 631.3 million,
2.7% of total import).
The value of export in the Republic of Serbia, for the period of January - April 2009
amounted to USD 2,274 million, which was a 34.6% decrease when compared to the same
period in 2008, while the value of imports amounted to USD 4,759 million, which was a
37.0% decrease relative to the same period in 2008. The deficit amounted to USD 2,485
million, which was a decrease of 39.0% in relation to the same period in 2008. The export
- import ratio equaled 47.8% and was higher if compared to the same period in 2008 when
it was 46.0% (see chart).
For the period of January - April 2009, the tendency of export and import fall continued
from the end of 2008. As a main factor we emphasize global economic crisis which brought
to the fall of economic activity in the world and in the Serbia. The decline of Serbian export
is also consequence of declining in the prices of primary products on the world market as
they form a large part in Serbian export. The main reason for decline in import is fall of
industrial production in Serbia. 7
Regarding the structure of export, and according to the products by economic destination
(based on the principle of prevalence), the most notable, in the period of January - April
2009, were: reproduction products 60.0% (USD 1,365.6 million), then consumer goods
30.5% (USD 693 million) and equipment 9.5% (USD 215.6 million).
Foreign trade by products was the largest with members of the European union (more than
half of total exchange). Surplus in trade is made with Republic of Bosnia and Herzegovina,
Republic of Montenegro and Republic of Macedonia. The largest deficit is with Russian
Federation mainly because import of energy, oil and gas. After the EU, second largest trade
partner of Serbia are countries of CEFTA 2006. With CEFTA 2006 Serbia has surplus
in trade of USD 370.9 million, which is mainly the result of export agriculture products
(grain, beverage, etc.). The greatest import share are iron and steel, electrical energy,
products of non metal minerals and other energents. For mentioned period the value of
export amounted to USD 705.4 million, while the value of imports amounted to USD 334.5
million. The export - import ratio equaled 210.9%.
We can conclude that CEFTA 2006 is very important region for Serbia. Its importance
is mainly for Serbian export, because Serbia has a surplus with CEFTA 2006. After the
European Union countries members of CEFTA 2006 are second foreign trade partner of
Serbia.
CONCLUSION
CEFTA-2006 TRADE COOPERATION
Agreement that presently defines a single free trade zone in Southereastern Europe, CEFTA
agreement, provides harmonization of tariff and other administrative regulations with the
7 For further information, see internet page: Republika Srbija - Spoljnotrgovinska robna razmena, april 2009.
http://www.agropress.org.rs/tekstovi/11182.html, 29.05.2009
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