REGIONAL COOPERATION AND ECONOMIC INTEGRATION
REGIONAL COOPERATION AND ECONOMIC INTEGRATION
REGIONAL COOPERATION AND ECONOMIC INTEGRATION
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The major foreign trade partners in import in the reference period were: Russian Federation<br />
(USD 3,492.6 million, 15.2% of total import), Germany (USD 2,704.4 million, 11.8%<br />
of total import), Italy (USD 2,184.4 million, 9.5% of total import), China (USD 1,829.2<br />
million, 8.0% of total import), Hungary (USD 815.3 million, 3.5% of total import), France<br />
(USD 747.4 million, 3.2% of total import), Bulgaria (USD 746.6 million, 3.2% of total<br />
import), Ukraine (USD 661.0 million, 2.9% of total import), Republic of Bosnia and<br />
Herzegovina (USD 644.5 million, 2.8% of total import) and Romania (USD 631.3 million,<br />
2.7% of total import).<br />
The value of export in the Republic of Serbia, for the period of January - April 2009<br />
amounted to USD 2,274 million, which was a 34.6% decrease when compared to the same<br />
period in 2008, while the value of imports amounted to USD 4,759 million, which was a<br />
37.0% decrease relative to the same period in 2008. The deficit amounted to USD 2,485<br />
million, which was a decrease of 39.0% in relation to the same period in 2008. The export<br />
- import ratio equaled 47.8% and was higher if compared to the same period in 2008 when<br />
it was 46.0% (see chart).<br />
For the period of January - April 2009, the tendency of export and import fall continued<br />
from the end of 2008. As a main factor we emphasize global economic crisis which brought<br />
to the fall of economic activity in the world and in the Serbia. The decline of Serbian export<br />
is also consequence of declining in the prices of primary products on the world market as<br />
they form a large part in Serbian export. The main reason for decline in import is fall of<br />
industrial production in Serbia. 7<br />
Regarding the structure of export, and according to the products by economic destination<br />
(based on the principle of prevalence), the most notable, in the period of January - April<br />
2009, were: reproduction products 60.0% (USD 1,365.6 million), then consumer goods<br />
30.5% (USD 693 million) and equipment 9.5% (USD 215.6 million).<br />
Foreign trade by products was the largest with members of the European union (more than<br />
half of total exchange). Surplus in trade is made with Republic of Bosnia and Herzegovina,<br />
Republic of Montenegro and Republic of Macedonia. The largest deficit is with Russian<br />
Federation mainly because import of energy, oil and gas. After the EU, second largest trade<br />
partner of Serbia are countries of CEFTA 2006. With CEFTA 2006 Serbia has surplus<br />
in trade of USD 370.9 million, which is mainly the result of export agriculture products<br />
(grain, beverage, etc.). The greatest import share are iron and steel, electrical energy,<br />
products of non metal minerals and other energents. For mentioned period the value of<br />
export amounted to USD 705.4 million, while the value of imports amounted to USD 334.5<br />
million. The export - import ratio equaled 210.9%.<br />
We can conclude that CEFTA 2006 is very important region for Serbia. Its importance<br />
is mainly for Serbian export, because Serbia has a surplus with CEFTA 2006. After the<br />
European Union countries members of CEFTA 2006 are second foreign trade partner of<br />
Serbia.<br />
CONCLUSION<br />
CEFTA-2006 TRADE <strong>COOPERATION</strong><br />
Agreement that presently defines a single free trade zone in Southereastern Europe, CEFTA<br />
agreement, provides harmonization of tariff and other administrative regulations with the<br />
7 For further information, see internet page: Republika Srbija - Spoljnotrgovinska robna razmena, april 2009.<br />
http://www.agropress.org.rs/tekstovi/11182.html, 29.05.2009<br />
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