Serbia’s food manufacturing industry generated €2.05 billion in exports during the first eight months of 2026, while exports from the broader agriculture, forestry and fishing sector declined. The contrasting results highlight different trends in processed food trade and primary agricultural activity.
Food manufacturing exports increased 2.4% year on year between January and August, while imports rose more quickly, by 4.8% to €1.66 billion. The sector recorded a trade surplus of approximately €397 million, down from €424 million in the corresponding period a year earlier.
Food Processing Maintains Export Growth
August figures showed stronger momentum for the industry, with food manufacturing exports increasing 9.9% year on year. Domestic food manufacturing output also expanded, rising 2.7%. The classifications used in the trade data do not provide a direct division between all raw agricultural goods and all processed food products. Nevertheless, the figures show that food manufacturing maintained export revenue growth while exports from the primary agriculture, forestry and fishing sector contracted.
Agricultural Exports Decline Alongside Imports
Exports attributed to agriculture, forestry and fishing fell 6.2% to €701 million during January–August. Imports in the same category decreased by 11.7% to €859 million. The sector’s declining exports contrasted with the increase in food manufacturing shipments. Meanwhile, the food processing industry’s narrowing trade surplus reflects import growth that exceeded the pace of export expansion.
Investment Opportunities in Processing and Logistics
The performance of food manufacturing supports investment opportunities across food processing, packaging, storage, cold-chain logistics and higher-value food products. Expanding these activities can increase the value derived from agricultural inputs before products reach export markets. The increase in imports of manufactured food products and the reduction in the processing sector’s trade surplus indicate competitive pressure in both domestic and foreign markets.
For agricultural lenders and investors, the distinction between commodity production and processed food exports is an important consideration. Additional processing capacity can increase the value captured from agricultural raw materials, while profitability remains dependent on raw-material costs, energy consumption, quality standards and consistent export demand.
