In recent years, Serbia has made great economic and political progress. The economy has recorded a good, stable development of 4-5% annually. Also in 2020, Serbia was able to maintain its economy and avoid a recession. The country’s exports have also grown tremendously in the last 10 years (2021-2020) – about 100% growth.

Serbia is a potential EU accession candidate. Nevertheless, the country is actively building relations with key world players such as the EU, USA, China and Russia. Serbia is also actively engaged in deepening and strengthening trade relations within the Balkans – it has launched an initiative for the creation of the “mini-Schengen” in the Balkans called “Open Balkan”. This has so far also been supported by North Macedonia and Albania.

As far as trade relations between Serbia and Switzerland are concerned, the two countries are closely intertwined. Switzerland exports goods worth CHF 598 million and imports Serbian goods worth CHF 316 million. Swiss exports are mainly medical and pharmaceutical products, gold bars and plates and industry-specific machinery. Swiss imports from Serbia account for 85% of industrial products and 14% of agricultural and food products.

Business representatives from both sides see great potential to further diversify bilateral economic relations in the near future, particularly in the areas of services and infrastructure. Swiss companies and their products and technologies enjoy a very good reputation in Serbia.
a very good reputation in Serbia. Serbia still has a lot of catching up to do. The medium-term political focus will not only be on accelerating growth through further structural reforms, but also on “greener growth and investment” as well as investments in science, innovation and public health.

Source: S-GE