Filipović, Sanja (2024) Serbia between China and the EU: Analysis of Foreign Trade Commodity Exchange. In: Назив зборника Dialogues on China - Harvesting the Winds of Change: China and the Global Actors. Institute of International Politics and Economics and Institute for European Studies, Chinese Academy of Social Sciences, Belgrade, pp. 469-490. ISBN 978-86-7067-339-7
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The goal of this paper is to determine the changes in the trend and structure of the Republic of Serbia’s foreign trade commodity exchange with the EU and China over the last ten years. The total foreign trade commodity exchange of Serbia has increased in the previous decade thanks, above all, to the Stabilisation and Association Agreement. Although the value of the total foreign trade exchange has almost doubled, the growth of exports has been accompanied by the growth of imports,so that in absolute terms, the value of the trade deficit significantly increased. The EU is Serbia’s key foreign trade partner, followed by the CEFTA signatory countries, China, and Russia. In trade with its main trading partners, Serbia realises a surplus only with the CEFTA countries and a surplus in the exchange of agricultural products with the EU. The trade deficit with Russia is primarily caused by changes in the value of imported energy products. The value of Serbian exports to Russia did not change significantly during the observed period. The biggest changes in the trend of foreign trade exchange are between Serbia and China. The volume of foreign trade has been growing, especially since 2019, when imports doubled and exportstripled. However, while in the structure of importsfrom China, the share of products of a higher technological stage (electrical machinery and electronics) is increasing, the structure of exports to China is dominated by copper ore. As a result of this trend, the relative share of Serbia’s trade deficit with the EU decreased, and the overall trade deficit with China increased. In the coming period, the biggest challenge for Serbia is improving the structure of exportsto China in terms ofthe increase in exports of productswith a higher stage of technological processing.
| Item Type: | Book Section |
|---|---|
| Uncontrolled Keywords: | Serbia, China, EU, foreign trade, free trade agreements,trade deficit |
| Institutional centre: | Centre for economic research |
| Depositing User: | D. Arsenijević |
| Date Deposited: | 12 Dec 2024 08:23 |
| Last Modified: | 12 Dec 2024 08:30 |
| URI: | http://iriss.idn.org.rs/id/eprint/2513 |
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