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Serbia Ascends as Key Trade Partner for Germany

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Serbia is set to become a net exporter to Germany by 2025, overtaking its imports from the economic powerhouse, according to a recent study by the German-Serbian Chamber of Commerce (AHK Serbia).

Conducted throughout February and March, the research underscores Serbia’s emergence as one of Germany’s top 50 most significant trading partners, a testament to the ongoing investments and strengthening economic ties between the two nations.

Despite global economic uncertainties, the study reveals a continuous optimism in the Serbian economy. Trade between Germany and Serbia doubled in 2022 compared to any other foreign trade partner of Serbia, with bilateral trade swelling by an additional 13% in 2023 to nearly nine billion euros—a record high.

However, the survey also highlights some challenges: the percentage of companies satisfied with their business operations in Serbia dropped from 52% in 2022 to 39% in 2024. Meanwhile, those rating their situation as satisfactory increased from 47% to 55% over the same period.

Employment trends are shifting, with 37% of companies planning to increase their workforce in 2024, down from 44% last year. The economic situation in Germany and other global market uncertainties have also impacted German companies in the Balkans, with 40% of surveyed firms planning to boost their investments in 2024.

Read more...

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Challenges in combating corruption and crime, and issues with the availability and qualification of skilled labor remain significant concerns for businesses in Serbia. However, developments in communication infrastructure and employee productivity have been positively received, along with advancements in the digitalization of administration and the transportation and logistics sectors.

The German-Serbian Chamber of Commerce, part of a global network with over 150 international delegations, continues to play a crucial role in enhancing economic opportunities and fostering German-Serbian trade and cooperation across various sectors. With over 440 members, it stands as one of the largest and most influential bilateral chambers in Serbia.

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