BELGRADE, Feb. 1 (Xinhua) -- Serbia's overall trade in 2017 increased by 15.3 percent from the year before, while industrial production increased by 6.9 percent, the state statistics bureau said on Wednesday.
Figures published by the bureau showed that the overall external trade in Serbia last year amounted to 38,939 million U.S. dollars.
During the same period, the exports increased by 14.2 percent to the value of 16,992 million dollars, while imports increased by 16.1 percent, amounting to 21,947 million dollars.
The deficit in trade decreased by 1.4 percent, and export-import ratio now revolves around 77.4 percent.
Moreover, the figures also revealed that the "external trade noted the highest level with the countries with whom Serbia signed agreements on free trade, with the European Union (EU) member countries accounting up to 64 percent of total external trade."
Serbia mostly exported to Italy and Germany, while importing from Germany, Italy, China and Russia.
Trends showed that the industrial production in Serbia increased by 6.9 percent compared with 2016. Manufacturing industry grew the most -- by 6.4 percent, while energy sector fell by 6.2 percent.
Manufacture of machinery and equipment, rubber and plastic products, chemicals and chemical products, and metal products had the largest influence on industrial production growth.
In the 4th quarter of 2017, real gross domestic product (GDP) increased by 2.5 percent in comparison to the corresponding period of the previous year, while the retail trade turnover increased by 7.9 percent at current prices.
