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FCA Srbija's exports decline in H1 2018

Author Radomir Ralev
FCA Srbija's exports decline in H1 2018 Source: FCA Srbija

BELGRADE (Serbia), July 16 (SeeNews) - The exports of FCA Srbija, a joint venture of Fiat Chrysler Automobiles (FCA) Group and the Serbian government, fell by 16.2% on the year in the first half of 2018 to 471.4 million euro ($551.2 million), according to finance ministry data.

Despite the decline, FCA Srbija was Serbia's biggest exporter in January-June 2018, followed by HBIS Group Serbia, the Serbian unit of Chinese steelmaker HBIS, which exported goods worth 403.4 million euro, up 44% year-on-year, figures show.

Rubber and chemical products manufacturer Tigar [BEL:TIGR] was Serbia's third biggest exporter in the period under review, with sales abroad up 6.5% to 190.8 million euro.

The total exports of Serbia's 15 biggest exporters rose by 9.5% year-on-year in the first half of 2018, reaching 2.3 billion euro.

Serbia's foreign trade deficit in the first five months of 2018 widened 44% on the year to $2.534 billion, the country's statistical office said earlier. The country's exports rose 22% to $7.977 billion, while imports grew by 26% to $10.511 billion, the data indicated.

($ = 0.855158 euro)