Exporting to Serbia

Serbia is a landlocked country situated at the crossroads of Central and Southeast Europe. The country has a population of over 7 million people (IMF, 2019) and was the UK's 88th largest trading partner in the year up until June 2019 (ONS, 2019).

Demand for UK goods

Goods made up over 65% of all UK exports to Serbia in the year up until June 2019 (ONS, 2019). In the same year, the top goods exported from the UK to Serbia were medicinal and pharmaceutical products, specialised machinery, electrical goods, consumer manufactures and scientific instruments (ONS, 2019). If you are operating in any of these industries, then Serbia could be a good export market for you.

Improving economic conditions

The import market in Serbia has seen healthy growth over the last five years, and this growth is projected to continue (IMF, 2019). GDP per capita is also rising and will continue to rise (IMF, 2019). This should lead to an increase in spending power for local consumers which UK exporters could benefit from.

Ease of doing business

48th

out of 190 countries (World Bank, 2018)

Currency

Serbian dinar

Business language

Serbian, English, German

You may need a translator

GDP per capita

$7,223

UK is $42,558 (IMF, 2018)

Economic growth

4.3%

(IMF, 2018)

Time zone

GMT +1

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.