Based on the data collated by the Secretary of state for Finance of the Republic of Serbia – Customs Administration, in 2023, a total of 11,539 companies in Serbia did business using the Federal Republic of Germany.
According towards the data collated through the State Statistical Office, the entire trade between your Republic of Serbia and also the Federal Republic of Germany in 2023 amounted to 6.5 billion euros. Serbia's export to Germany amounted to two.7 billion euros, as the import totalled 3.8 billion euros. The export-to-import ratio stood at 72.8%. The government Republic of Germany may be the leading external trade partner of the Republic of Serbia in 2023, both in terms of the total exports (a 12.5% share) and the total imports (a 13.2% share).
The total exchange services between your Republic of Serbia and the Federal Republic of Germany in 2023 amounted to at least one.07 billion euros, of which the Republic of Serbia earned 677 million euros, and had expenditures within the quantity of 397 million euros. From January to November 2023, the total exchange services between the Republic of Serbia and the Federal Republic of Germany amounted to one million 1.17 billion euros, of which the revenues of the Republic of Serbia amounted to 746 million euros and expenditures 429 million euros. The Federal Republic of Germany is the second biggest partner of the Republic of Serbia in terms of exchanging services.
According towards the methodology utilized by the nation's Bank of Serbia, the entire net investments of residents of the Federal Republic of Germany within the Republic of Serbia at that time from 2010 to September 2023. amounted to 2.134 billion euros.
FOREIGN TRADE TRADE BETWEEN THE REPUBLIC OF SERBIA And also the FEDERAL REPUBLIC OF GERMANY IN THE 2013 – 2023 PERIOD (IN MILLIONS OF EUROS)
The two countries mostly exported these items – ignition wiring kits, along with other kits for vehicles worth 419.9 million euros (a 15% share), in addition to automotive train cars worth 50 million euros (a 2% share).
The two countries mostly imported these products from one another – unclassified goods in the customs tariff (goods kept in storage) worth 332.2 million euros (a 9% share), during tenth place are specialized machines and devices worth 30.Six million euros (a share of 1%).
NUMBER OF EXPORTERS / IMPORTERS 2013 – 2023
COMPANIES
Based around the data collated by the Ministry of Finance from the Republic of Serbia – Customs Administration, in 2023, as many as 11,539 companies in Serbia did business with the Federal Republic of Germany.
- Number firms that only export towards the Federal Republic of Germany – 1,199
- Number companies that only import in the Federal Republic of Germany – 8,725
- Number companies that both export and import – 1,615
COMPANIES WITH MAJORITY GERMAN CAPITAL IN THE REPUBLIC OF SERBIA
According to the data from the Business Registers Agency from the Republic of Serbia, you will find 807 active companies in the Republic of Serbia, that are majority-owned by the citizens from the Federal Republic of Germany, i.e. companies registered within the Federal Republic of Germany (data from January 28, 2023).
The largest number of companies operate in the following economic sectors:
| 1 | G – Wholesale and retail and repair of motor vehicles | 156 |
| 2 | C – Manufacturing industry | 150 |
| 3 | N – Administrative and related services | 132 |
| 4 | M – Specialized, scientific, innovative and technical services | 123 |
| 5 | J – Information and communication | 90 |
| 6 | F – Construction | 59 |
| 7 | X – Transport and storage | 20 |
| 8 | A – Agriculture, forestry and fishing | 14 |
| 9 | I – Accommodation and catering services | 11 |
| 10 | L – Property activities | 11 |
POTENTIAL FOR BETTER COOPERATION
The Federal Republic of Germany is among the most important external trade partners from the Republic of Serbia. However, in trading with Germany, the Republic of Serbia usually generates a deficit. The largest deficit generator may be the SITC sector 7 – Manufactured products – in which the largest deficit is generated by passenger and freight vehicles and parts industry. The same applies to the SITC sector 5 – Chemical products – with the main deficit generators being medication and blood fractions.
The two countries could cooperate more within the following industrial sectors: the agri-food sector (fresh, frozen and canned fruits and vegetables, organic food, fine food and specialties, wine, canned meat, spices, soups, dried vegetables, mushrooms), metal processing industry (auto parts), wood industry (wood and rustic furniture, furniture parts, prefabricated houses). textile industry (clothing, leather and footwear), construction (building material industry, through detachment contracts with Bavarian partners for that execution of construction works) and the IT industry (software & hardware).
PROMISING COOPERATION SECTORS
In the Furniture group of products, the Republic of Serbia and Germany grow their cooperation in the subcategories such as 'other furniture and furniture parts', which Germany imported in 2023 in the amount of 1.87 billion and also the subcategory 'seats as well as their parts' (excluding those from the customs tariff number 9402) which Germany imported in the amount of 199 million euros.
In regard towards the Plastics and Plastic Products group, the 2 countries could trade more in the following subcategories – flooring and wallpaper, plastic utensils and other plastic products for home of plastics. In 2023, the 2 countries imported these products in the value of 600.1 and 394.Six million euros, respectively.
When it comes to the Edible fruits and nuts group, Germany continues to be increasingly importing fresh and dried fruits and mixed nuts from Serbia.
Products that may boost the economic cooperation between Serbia and Germany include corn, sunflower oil along with other vegetable fats. There is also potential for the export of canned vegetables, frozen vegetables and canned mushrooms. Furthermore, industrial plants, flour and seed also have a great export potential for Serbia, as do non-electric household appliances as well as other kinds of brandy which Germany imported around 283 million euros worth in 2023.
INVESTMENTS
Beginning in 2023, in accordance with IMF guidelines and the EU accession efforts, the nation's Bank of Serbia changed the methodology used in calculating foreign direct investments (as outlined within the “IMF’s Manual on Balance of Payments and International Investment Position No. 6”). In line with the new methodology, net foreign direct investments information is calculated because the distinction between the web rise in financial assets (net output investments, i.e. inflows and outflows based on residents’ investments abroad) and the net increase in financial liabilities (net incoming investments, i.e. inflows and outflows according to non-residents’ investments in Serbia) and include investments in money, goods, debt-to-equity conversion, intercompany loans and reinvested earnings.
According for this methodology, the total net investments produced by residents from the Federal Republic of Germany in the Republic of Serbia in the period from 2010 to September 2023 amounted to two.137 billion euros. The government Republic of Germany occupies your fifth place on their email list from the largest investors in Serbia in 2023.
| Foreign direct investment
(liabilities based on investments of non-residents in Serbia) – in countless euros – |
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| 2010. | 2011. | 2012. | 2013. | 2023. | 2023. | 2023. | 2023. | 2023. | 2023. | 2023 | I-IX 2023 | TOTAL | |
| 103,5 | 198,7 | 93,1 | 83,5 | 36,5 | 72,4 | 179,6 | 185,4 | 263,3 | 335,8 | 353,4 | 232,7 | 2.137,9 | |
Source: NBS
