Serbia’s trade deficit narrowed to USD 199.4 million in January 2026, down from USD 504.7 million in the same month a year earlier. Exports increased by 6.4% year-on-year to USD 2,753.8 million, driven mainly by higher shipments of capital goods (up 35.7%) and intermediate goods (up 18%). In contrast, exports declined for energy (down 32.2%), durable consumer goods (down 4.0%), non-durable consumer goods (down 2.3%), and goods unclassified by MIG destination (down 18.2%).
Imports fell by 4.5% to USD 2,953.2 million, reflecting lower purchases of energy (down 23.2%), intermediate goods (down 1.0%), capital goods (down 5.6%), durable consumer goods (down 2.2%), and goods unclassified by MIG destination (down 0.2%). At the same time, imports of non-durable consumer goods rose by 5.2%.
