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Serbia B2B Marketplace


Serbia attracted a record number of foreign direct investments in 2017 and it is one of the top fifteen countries in Europe for the number of FDIs attained in 2018 according to E&Y European Attractiveness Survey 2018. The reasons behind Serbia’s popularity in the business world is due to its ideal geographical location, the highly skilled and motivated workforce and low costs of gas and electricity. The country’s economic income is mostly based on various services and industrial and agricultural products.

The industrial sectors that contribute the most to Serbia’s economy are energy, machinery and automotive industry, mining, and agriculture. EPS, Serbia’s national electric company, was the largest enterprise in 2018 with annual revenues totalling around 2.25 billion euros, a 4.7 per cent increase compared to 2017. The country's primary export industries include manufacturing of motor vehicles, base metals, furniture, food processing, machinery, chemicals, sugar, tires, clothes and pharmaceuticals. Serbia has seen a large influx of FDIs for these industrial sectors in the past decade with internationally renowned companies like Fiat, Coca Cola, Siemens and others running operations smoothly in the country. Agriculture plays a substantial role in the Serbian economy by drawing an annual potential of EUR 12 billion in exports as one of the largest suppliers of frozen fruit to the EU. The IT and renewable energy sector hold great potential and are being developed rapidly. Tourism is also a developing sector in the country with 75,000 people working in the industry, about 4% of the country's workforce.

After years of negotiation, Serbia is finally close to joining the WTO as a member which will allow it to reduce export tariffs and help Serbian companies contend internationally. More importantly, Serbia has advantageous trade agreements with the EU, CEFTA, USA, Russia, Turkey and EFTA. Serbia is also expected to become a member of the EU by 2025 which will add to further trade alliances within the region. These alliances are predicted to add greatly to Serbia’s exponential economic growth by providing free trade opportunities. The effect of past alliances can easily be observed by the average growth rate of Serbia's GDP in the last ten years which is a grand 2.45% per year.

In 2017, Serbia exported $16.8B and imported $20.1B worth of goods resulting in a negative trade balance of $3.28B, but the country’s exports grew steadily in 2018 reaching an impressive $19.2B. Serbia’s GDP in 2017 amounted to $41.4 billion, but in 2018 the GDP rose to $50.651 billion and is expected to increase to $52.424 billion in 2019. Moreover, the third quarter of 2019 showed the annual GDP growth rate rise from 2.9% to 4.8% year-on-year. During the past five years, exports have increased at an astounding annualized rate of 8%, from $11.6B in 2012 to $19.2B in 2018. There isn’t a better time to invest in Serbia, a goldmine for countless business opportunities with a assured guarantee of growth in all sectors.
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