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”.