Trade deficit with Africa makes Serbia unique

THE FORMER Yugoslavian
state of Serbia – now
independent – is one of the
few western trading nations
running a trade deficit with
Africa.
According to information
released to FTW by the Trade
Law Centre (tralac), figures
released by the Belgrade
Institute for Market Research
(IZIT) showed a trade deficit of
over R185-million in the eight
months to end-August this
year – well over double the
R85-m recorded for the same
period last year.
In the first eight months
of 2007, said IZIT official, Sasa
Dogoviae, Serbia imported
R452.16-m worth of products
from African countries. These
imports included coffee, cocoa,
garlic and clothing. Exports
were worth only R267.12-m -
consisting mainly of tin, wood
and rubber.
Serbia would improve
its trade balance with Africa
if it offered agricultural
machinery, automobiles, seed
products and the services
of construction companies,
Dogoviae said, adding that
China’s trade tactics in Africa
were “a good example”.