Significant increase in trade between Serbia, UK in 2022

NEWS 11.05.202318:15
firme radnici transport kontejneri posiljka roba
Shutterstock

The value of total trade with the United Kingdom in 2022 was 788.3 million euros, which is an increase of approximately 27 percent compared to 2021, said Thursday Serbian Domestic and Foreign Trade Minister Tomislav Momirovic following his meeting with UK Trade Commissioner for Europe Chris Barton.

Momirovic pointed out that Serbia has a surplus of 125 million euros in trade with the United Kingdom, adding that Serbia’s exports amounted to 456 million euros and last year saw a 28 percent increase in exports compared to 2021, said a Serbian Government press release.

“We see that in the past two years we have had a significant increase in trade cooperation between our two countries, and I used today’s meeting as an opportunity to invite British companies to continue investing in Serbia,” the press release quoted Momirovic as saying.

The Minister noted that in the trade in services, the United Kingdom, along with the US and Germany, is one of Serbia’s important partners with whom it records a positive balance year after year.

The total turnover of services in 2022 amounted to 1.3 billion euros, which is an increase of 21 percent compared to 2021. Revenues from the export of services in trade with the UK amount to 883 million euros, where Serbia records a surplus of 422 million euros. This is the second year in a row that we have achieved a turnover of over 1 billion euros, the Minister said.

The meeting at the Serbian Government was also attended by British Ambassador to Serbia Sian MacLeod.