Serbia’s goods exports rose 8.9% to 26.89 billion euros in January-September, while a message at the MEPS 2026 conference in Belgrade called for more investment in medium-sized companies with domestic capital. The proposal aims to help turn export growth into broader industrial development and keep more value within the local economy.
The Statistical Office provided the trade figures, which also showed imports increasing 4.9% in the period. The data do not establish whether exports grew because of more Serbian-owned suppliers, higher output at multinational manufacturers or changes in the product mix.
That leaves open how much value created by rising exports stays in Serbia. The figures indicate an opportunity, but do not prove that the gains are spreading through the local economy or reaching domestic suppliers.
Medium-sized manufacturers can link large investors with small workshops, while remaining flexible enough to serve multiple customers. They can invest in certified production, engineering, quality assurance and delivery systems, capabilities that can support work for international buyers.
Moving from occasional subcontracting to recurring export orders requires working capital, equipment and skilled labour, as well as documented performance. Automotive, electrical, metal-processing and industrial-equipment buyers often require traceability, tight tolerances, consistent delivery and rigorous cost control.
Suppliers must qualify for buyer systems before receiving their first large purchase order. A financing programme that overlooks this preparation period may fail even if its interest rates are attractive, according to the points raised at the conference.
Separate industrial figures showed output rising 3.2% year on year in September, while manufacturing output increased 5.1%. Total industry output was 0.5% higher in the first nine months, indicating an uneven production recovery rather than a uniform rise across industry.
The proposed policy response is to link access to finance with purchase agreements, supplier-development programmes, technology upgrading and export promotion. Banks should be able to assess contracted demand rather than collateral alone, while larger manufacturers should have incentives to deepen credible local sourcing.
Suggested measures for the next phase include domestic value added, the number of local suppliers qualifying for international contracts, productivity per worker and sustained revenue from customers outside Serbia. These measures would track whether export growth is translating into lasting business for local companies.
