Serbian industrial production drops in September

NEWS 05.11.201917:00
N1

The latest issue of the Macroeconomic Analyses and Trends (MAT) economic news bulletin said that the country’s overall industrial production dropped in September.

MAT associated Stojan Stamenkovic said that the 100 percent tariffs on goods from Serbia imposed by the Kosovo government, an outbreak of swine flu and a drop in production at the FIAT-Chrysler Automobiles factory were the major problems facing the economy.

He said that the processing industry reported a year on year growth of 1.7 percent in September, adding that the food processing industry would have achieved a growth of four percent if not for the tariffs and swine flu. Stamenkovic said the food industry lowers the dynamics of industry as a whole. According to him, the food industry faces problems in the meat and meat product sector because of the Kosovo tariffs and ban on exports following an outbreak of swine flu as well as lower demand for exports to Russia.

“The production of motor vehicles and trailers does not seem to be problematic at first glance because its negative balance in September was at a minimum of one percent but the problem is the long-term drop in production at FIAT – Chrysler Automobiles,” he said, adding that motor vehicle production dropped 42.1 percent year on year in the January-September period.