Serbia recorded EUR 26.89 billion in goods exports and EUR 32.56 billion in imports during the first nine months of 2026, while the European Union remained the country’s dominant trading partner, accounting for 58.1% of total goods trade, according to the Statistical Office.
Exports increased 8.9% year on year in euro terms, while imports grew by 4.9%. The resulting merchandise trade deficit amounted to EUR 5.66 billion.
The figures highlight the importance of maintaining access to European customers while expanding commercial relationships in other markets. Continued reliance on a limited number of destinations also leaves exporters exposed to changes in demand and regulatory conditions in those countries.
Export Diversification and New Markets
Market diversification was among the topics discussed at the MEPS 2026 conference in Belgrade, organised by the Serbian Chamber of Commerce and the Institute of Economic Sciences.
Participants examined opportunities for domestic companies to reach additional customers and become more closely integrated into global supply chains. Expanding beyond the EU could provide access to new markets, although exporters need to assess transport expenses, distributor reliability, payment risks and product standards before entering new destinations.
For smaller manufacturers and service companies, establishing the necessary commercial infrastructure can involve significant costs. Local partnerships, after-sales support, export credit and compliance with customer specifications are among the requirements for developing sustainable international sales.
CEFTA Trade Surplus Supports Regional Links
Regional markets remain an important part of Serbia’s export network. The country recorded a EUR 2.53 billion goods-trade surplus with CEFTA partners during January-September 2026, according to the Statistical Office.
Established commercial relationships and transport corridors provide a basis for regional trade, while the efficiency of border procedures and the predictability of required documentation remain important for market access.
Trade agreements by themselves do not ensure profitable exports. Companies also need competitive delivery times and reliable local partners, alongside financing arrangements and the capacity to meet the technical and commercial requirements of customers. Serbia’s export strategy therefore involves expanding its customer base beyond existing European markets while maintaining established EU business relationships. Tracking exports by destination, product category and company ownership would provide a basis for measuring the extent of actual market diversification.
