Serbia’s merchandise exports reached EUR 26.89 billion during the first nine months of 2026, increasing by 8.9% year on year, while the European Union continued to dominate the country’s external trade, accounting for 58.1% of total goods trade. Despite stronger export performance, Serbian companies are exploring opportunities in additional markets to broaden their customer base and reduce dependence on a limited number of trading partners.
According to the Statistical Office of the Republic of Serbia, imports amounted to EUR 32.56 billion, representing annual growth of 4.9%. The resulting merchandise trade deficit stood at EUR 5.66 billion.
EU Remains Serbia’s Main Trading Partner
The concentration of trade within European markets highlights the importance of maintaining existing commercial relationships while developing alternative export destinations. Changes in European demand or regulatory requirements could affect Serbian businesses that rely heavily on a relatively small number of foreign 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 strengthen their participation in international supply chains.
Expanding beyond the EU offers potential access to new commercial partners, but entering additional markets requires companies to assess transport costs, distributor reliability, payment risks and product-standard requirements before committing resources.
CEFTA Markets Provide Regional Trade Opportunities
Serbia’s commercial position in neighbouring markets remains significant. The country recorded a EUR 2.53 billion goods-trade surplus with CEFTA partners during the first nine months of 2026, according to the Statistical Office.
Established business relationships and existing transport corridors support regional trade, although exporters continue to depend on efficient border procedures and predictable documentation when moving goods across the region.
Export Expansion Requires Additional Business Capabilities
Access to trade agreements and new destinations does not automatically translate into profitable export operations. Companies must also establish competitive delivery arrangements, develop reliable local partnerships and provide after-sales services where required.
Other important requirements include export credit facilities, compliance with customer specifications and the ability to meet product standards in destination markets. Developing these capabilities can involve considerable costs, particularly for smaller manufacturers and service providers.
Serbian exporters therefore face the task of expanding their international customer networks while maintaining their existing European business. Tracking export performance by destination market, product category and company ownership would provide a clearer indication of whether diversification is translating into measurable changes in the country’s trade structure.
