Up up to now U.S. firms have invested around $4 billion in Serbia. There's growing interest from potential U.S. investors in Serbia, to make cooperation with innovative companies and start-ups in Serbia. Further investments are expected to follow along with in line with envisaged economic reforms.
According towards the data of america Embassy in Serbia, there's growing interest from potential U.S. investors in Serbia, in line with positive economic trends with Serbia's prospective EU accession. In September 2023, america and Serbia signed a Memorandum of Understanding on cooperation in infrastructure projects. Further investments are required to follow along with in line with envisaged economic reforms aimed at strengthening private sector, improvement of public administration, corporatization of state-owned enterprises, and improved rule of law.
US government supports reforms in the Serbian business sector through USAID. In line with the assumption that Serbia's economy is constrained by critical barriers to growth and requires further improvements to the business enabling environment to be able to attract investments and make jobs, and much more vigilant private sector able to compete in regional and international markets, USAID works together with selected government counterparts, non-governmental organizations, international donors, along with other U.S. agencies to succeed reforms that will contribute to economic growth and make Serbia more business friendly. USAID economic growth assistance also helps Serbian firms adopt practices to become more innovative and competitive. USAID is also mixed up in food processing sector, where it is working across value chains and supports structures to foster a method which will increase competitiveness, sales and exports–creating a model that can be replicated in other parts of the Serbian economy. At both the regulatory level and firm level, USAID is working to increase the diversity and availability of financial products and also the private sector's capability to access them.
U.S. firms have invested around $4 billion in Serbia. One of the leading U.S. investors in the country are NCR, KKR, Philip Morris, Molson Coors, Ball Packaging, Coca-Cola, PepsiCo, Cooper Tire, Ametek and Van Drunen Farms. Based on the same source, a number of other leading U.S. firms, from the broad variety of industrial and service sectors, have a significant presence. Specifically there's been increased interest from U.S. it (IT) companies, with specific emphasis on opportunities in e-government, cloud computing, digitization, systems integration also it security. NCR, Microsoft, Oracle, FIS, and IBM have the ability to significant IT-related operations in Serbia, along with a growing number of IT start-ups. Serbian IT professionals are highly sought after.
Based on the US Census Bureau data, Serbia's trade with the United States rose to $490.57 million in 2023. That's 0.43 percent above its total trade of 2023. U.S. exports to Serbia decreased 9.13 percent while U.S. imports from Serbia rose 5.33 percent. The U.S. deficit with Serbia was $189.36 million. The worth of the top five categories of U.S. imports from Serbia – – Electric motors, generators, not sets; Mattresses along with other bedding products; Engine parts; Bombs, grenades, cartridges, parts; and Frozen fruit, nuts, accounted for 42.52 percent of inbound shipments.
Based on the same source, US exports to Serbia fell when compared with 2023 for the following items: the civilian aircraft, parts fell 23.08 percent to $29.78 million, low value shipments fell 4.14 percent to $14.24 million, computers fell 9.17 percent to $7.22 million, raw tobacco fell 17.46 percent to $7.19 million. Tractors rose 150.67 percent compared to this past year to $3.66 million.
At the same time U.S. imports from Serbia in category electric motors, generators, not sets, rose 192.5 percent compared to 2023 to $61.23 million, mattresses along with other bedding products rose 5510.59 percent to $31.92 million, engine parts rose 41.99 % to $22.17 million, bombs, grenades, cartridges, parts fell 36.02 percent to $16.56 million and frozen fruit, nuts fell 29.26 percent when compared with 2023 to $12.68 million.
In 2023 annual figures available, Serbia recorded $488.49 million in do business with america. Total U.S. exports to Serbia were $165.74 million and imports from Serbia were $322.75 million. The U.S. deficit with Serbia was $157.02 million.
