Foreign trade of Serbia and Africa

Abstract

When it comes to defining the foreign trade relations between Africa and the Republic of Serbia, it should be pointed out that our country achieves the least international trade cooperation with the countries of this continent. According to the data of the Parliamentary Budget Office (2018), Serbian foreign trade is mostly focused on Europe, given that as much as 93% of total exports were directed to European countries, and 80% of imports of goods from Europe. The exchange with African countries is almost negligible: on both the import and import side, Africa took part in less than 1% of the total Serbian foreign trade. Infrastructure development accelerates the pace of economic progress, by strengthening more productive activities, and leads to lower costs for conducting internal and external trade.