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Countries / Territories

Serbia

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Country Brief

Serbia is a landlocked, Balkan nation that shares borders with Bosnia and Herzegovina, Bulgaria, Croatia, Hungary, Kosovo, Macedonia, Montenegro, and Romania. A reliance upon the import of energy and advanced manufacturing products, together with volatile demand for its chief exports, which include metals, food products, and chemicals, has resulted in a substantial trade deficit. Moreover, exports are heavily concentrated in European and Western Balkan markets, exposing Serbia to the effects of regional economic and political fluctuations.?

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Although Serbia’s lack of WTO membership has hindered its ability to access alternative markets, it has engaged in a number of trade agreements, including the Central European Free Trade Agreement, in order to diversify risk. While Serbia has the potential to leverage its strategic location to become a hub of Central European trade, competitiveness is still hampered by limited financial access, underdeveloped transport and energy infrastructure, and a cumbersome business environment.

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