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Sub-anchor: Serbia economy & foreign trade with China


06-17-2016 16:18 BJT

Full coverage: President Xi Visits 3 Nations, Attends SCO Summit

Serbian GDP is officially estimated at 36.6 billion US dollars in 2015. The economy is dominated by the services industry which accounts for around 60 percent of its GDP, followed by the industrial and agriculture sector, accounting for around 32 percent and 8 percent of the economy respectively.

Main industrial sectors of Serbia include automotive, mining, non-ferrous metals and food-processing.

Serbia's foreign trade recorded a steady growth in the past few years. The country's exports hit 12.3 billion dollars in 2015 while imports stood at 16.6 billion US dollars.

In 2015, the value of Serbia's exports to China totaled 20.8 million dollars, while imports from China hit 1.6 billion dollars.

China’s ecomic ties with Serbia has grown quickly since the two countries signed a strategic partnership deal in 2009. In addition, the two countries signed a memorandum to jointly promote the Belt and Road initiative in 2015.

Infrastructure investment is a vital component under the initiative--including the construction of the Belgrade-Budapest high-speed railway, which is expected to be completed by 2018.

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