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HBIS Group is Serbia's biggest exporter in Jan-May

Author Radomir Ralev
HBIS Group is Serbia's biggest exporter in Jan-May Smederevo Steel Works. Author: Zelezara Smederevo. License: All rights reserved

BELGRADE (Serbia), July 8 (SeeNews) - HBIS Group Serbia Iron & Steel, a unit of Chinese steelmaker HBIS, was Serbia's largest exporter in the first five months of 2019 despite a drop in its sales abroad, finance ministry data shows.

HBIS's exports fell by 6.5% on the year to 313.2 million euro ($351.7 million), according to figures published on the website of the ministry.

FCA Srbija, a joint venture of Italy's Fiat Chrysler Automobiles Group and Serbia's government, ranked second with exports of 251.6 million euro, down 35%.

Rubber and chemical products manufacturer Tigar [BEL:TIGR] was Serbia's third biggest exporter in the period under review, with sales abroad up 5% to 170.2 million euro.

The combined exports of Serbia's 15 biggest exporters fell by 10.5% year-on-year in the first five months of 2019, to 1.7 billion euro.

Serbia's foreign trade deficit in the first five months of 2019 increased 9.8% on the year to $2.825 billion, data from the country's statistical office showed. Exports edged up 0.2% to $8.007 billion, while imports grew by 2.6% to $10.832 billion.

($ = 0.8906 euro)