Located in a geographically advantageous position, Serbia has a population of 6.9 million, 105,903 active companies and a gross national product of $51.47 billion (2020). In terms of Ease of Doing Business, it is ranked 44th out of 190 countries (2019) by the World Bank. It has a well-educated population, fluent in English and Russian.
Serbia imported a total of $26.73 billion in 2019. It showed an annual growth of 10.67% in imports. It carries out 45% of its imports from 5 countries consisting of Germany, Russia, China, Italy and Hungary. The most imported products, in order:
Pharmaceuticals and Chemistry: $3.28 billion (12.31%)
Iron, Steel and Metal: $1.80 billion (6.75%)
Electrical, Electronics: $1.75 billion (6.75%)
Machinery: $1.28 billion (4.83%)
Automotive: $1.21 billion (4.57%)
Plastics and Rubber: $1.18 billion (4.46%)
Processed Agricultural Products: $589.75 million (2.21%)
Wood and Forest Products: $527.36 million (1.98%)
Textiles: $492.99 million (1.85%)
Air Conditioning: $345.73 million (1.3%)
Defense, Aerospace: $343.98 million (1.29%)
In addition to its political and economic stability; have good infrastructure, favorable geographical location, trained workforce and competitive operational costs; In terms of trade, it makes the country a gateway to markets with 1.1 billion Consumers.
On the other hand, logistics performance and tariff and non-tariff trade barriers necessitate entry into the country with organizations that know the country well and have high expertise.