In 2024, China became Serbia’s largest trading partner
In 2024, China significantly strengthened its position in Serbia’s economy, becoming its largest trading partner and overtaking the European Union. According to 2023 data, the volume of bilateral trade between China and Serbia amounted to $4.35 billion, which is 23.7% more than the previous year. In 2024, after the entry into force of the free trade agreement
In 2024, China significantly strengthened its position in Serbia’s economy, becoming its largest trading partner and overtaking the European Union.
According to 2023 data, the volume of bilateral trade between China and Serbia amounted to $4.35 billion, which is 23.7% more than the previous year. In 2024, after the free trade agreement between the countries came into force on July 1, further growth in trade turnover accelerated, which led to trade with China exceeding that with the EU. This is reported by the Telegram channel Serbian Economist.
One of the growth factors was an increase in imports of high-tech equipment, electronics and raw materials for the metallurgical industry from China. In addition, China is actively investing in key infrastructure projects in Serbia, such as the construction of an industrial park near Novi Sad and the modernization of the Belgrade–Budapest railway line.
For example, the project to build an industrial park near Novi Sad with an investment of 300 million euros will create about 5,000 new jobs.
Modernization of the Belgrade–Budapest railway line and other infrastructure projects aimed at improving the transport network and logistics in the region.
Strengthening ties with China allows Serbia to diversify its trade relations and reduce its dependence on the EU and Russia, which contributes to sustainable economic growth and the development of key industries.
Serbian Economist – https://t.me/relocationrs