• GDP: US$40.5 billion (2007).
• Main imports: Machinery and transport equipment, fuels and lubricants, manufactured goods, cars, chemicals.
• Main exports: Manufactured goods, pharmaceuticals, food, live animals, machinery and transport equipment.
• Main trade partners: Italy, Bosnia & Herzegovina, Montenegro, Germany and the Russian Federation.

Serbia was the largest constituent republic of the former Yugoslavia. Between 1990 and the overthrow of Slobodan Milosevic in 2000, civil war followed by economic sanctions reduced its economy to less than half its previous output. Much of its infrastructure and industrial capacity was destroyed.

Since 2000, the economic outlook has been brighter and the lifting of sanctions has restored access to international markets and capital. GDP growth for 2007 was estimated at 7.5%. Serbia continues to suffer from high unemployment (20.9% in 2006). The country is preparing to join the European Union once the Kosovo issue has been resolved.

Things can go slowly on account of the cumbersome bureaucracy but most Serbian entrepreneurs are very keen to forge business links with Western Europe. Communication is not a major problem as English is popular as a second language.

Office hours: Mon-Fri 0700/0800-1500/1600.

Serbian Chamber of Commerce and Industry
Resavska 13-15, 11000 Belgrade, Serbia
Tel: (11) 330 0900.
Website: www.pks.co.yu

Belgrade Chamber of Commerce
Kneza Milosa 12, 11000 Belgrade, Serbia
Tel: (11) 264 1355.
Website: www.kombeg.org.yu