There are currently 111 companies from various sectors operating on the Serbian market which were founded or have Belgian capital inside them.
According to the latest available data from the State Statistical Office (SSO), in the first 6 months of 2023, Serbia's exchange goods with Belgium amounted to 334.8 million euro and recorded a slight increase of 0.5% compared to the same period in 2023. The value of our exports amounted to 96.8 million euro, which is a 4% decline relative to the observed period in 2023. The need for imports amounted to 334.8 million euro, a 4% increase. The export to import ratio until June 2023 was 40.7%.
Products that Serbia exported most to Belgium within the first 1 / 2 of 2023
Tobacco (completely cured), containers, frozen raspberries, iron or steel products, acetic acid, wooden furniture, medication, ignition conductor sets, other vehicle sets, tobacco and dried tobacco, fruit, cooked, without sugar (source: SSO)
Products that Serbia imported most from Belgium in the first half of 2023
Unclassified goods kept in storage, other medication, tobacco cured and dried, tobacco, cured and lightly air-dried, polyethylene, tobacco, oriental/sun-dried, trucks, diesel, over 20t, new, assembled, artificial filament cable of cellulose acetate, galvanized sheets, unclassified goods in free zones (source: SSO).
Based on the data collated by the Secretary of state for Finance from the Republic of Serbia – Customs Administration, until 2023, 2,515 businesses in Serbia did business with Belgium.
- Number of business entities net importers from Belgium – 1,992
- Number of economic entities net exporters to Belgium – 289
- Number of business entities which are both exporting from and importing to Belgium – 234
- Total quantity of businesses engaged in move with Belgium – 2,515
BUSINESS ENTITIES IN SERBIA THAT ARE MAJORITY-OWNED BY BELGIANS
109 active businesses were registered in Serbia which are majority-owned by Belgian nationals or companies registered in Belgium based on the data collated by the Business Registers Agency of the Republic of Serbia, on the territory Serbia, until June 3, 2023.
The largest quantity of business entities is registered in the following activities:
Manufacturing (22), wholesale and retail trade and repair of cars (22), professional, scientific, innovation and communication activities (12), administrative and support service activities (11), information and communication (10), property activities 8), construction (6), transportation and storage (4), accommodation and catering services (3), water supply and wastewater management (3).
POTENTIAL FOR IMPROVING COOPERATION
Belgium is a highly developed industrial country that imports raw materials and semi-finished products and exports finished products. Since Belgium comes with an open economy, finished products of excellent quality can find their put on the Belgian market, especially foods, clothing and footwear, sports products, cosmetics, furniture, interior decoration products, electrical appliances and toys.
Opportunities for industrial cooperation between Serbian and Belgian companies can be produced in the metal processing industry, mechanical engineering, electronics industry, chemical industry and the agri-food sector.
There are currently 111 companies operating around the Serbian market that were founded and have Belgian capital inside them. They are active in a variety of sectors – retail, manufacturing, construction, property, innovation and technical activities, transport and storage.
Belgian companies interested in the Serbian market wish to market many, namely machinery and industrial equipment, chemicals, textile products, various finished products, but in the change in the know-how and technology.
Belgian companies usually enter an industry through a local importer or distributor.
