Overview On Western Balkans Trade

EU and Western Balkans
The Western Balkans comprise Albania, Bosnia and Herzegovina, the former Yugoslav Republic of Macedonia, Kosovo, Montenegro and Serbia.
The EU is a key trading partner for the Western Balkans. In 2017, the former Yugoslav Republic of Macedonia exported over 80% of its total exports of goods to the EU (€4.0 bn or 81%). It was followed by Albania (€1.6 bn or 77%), Bosnia and Herzegovina (€4.0 bn or 71%), Serbia (€9.7 bn or 68%), Montenegro (€0.1 bn or 35%) and Kosovo * (€94 mn or 25%).  
The EU also made up the lion’s share of imports of goods in the former Yugoslav Republic of Macedonia (€4.3 bn or 63% of total imports of goods), Albania (€2.9 bn or 62%), Bosnia and Herzegovina (€5.7 bn or 61%) and Serbia (€10.3 bn or 59%), while almost half of the imports to Montenegro (€1.1 bn or 47%) and Kosovo (€1.3 bn or 43%) came from the EU. 
In 2017, the EU trade in goods balance with the Western Balkans registered a surplus of €9 bn, up by 10% compared to 2016. Twenty-two EU Member States recorded a surplus, led by Hungary, Greece and Croatia with a surplus of +€1.1 bn each. In contrast, the largest deficit was observed in Sweden (-€66.4 mn). EU imports from the Western Balkans have doubled since 2007 from €9 bn to €20 bn in 2017. Exports also increased, from €18 bn in 2007 to €29 bn in 2017. 
Among the EU Member States, the largest exporters to the Western Balkans in 2017 were Germany (16% of the EU exports of goods to the Western Balkans) and Italy (14%). Together they accounted for over one third of all exports to this region. These two countries were followed by Slovenia (10%), Hungary (9%) and Croatia (8%). Germany (23% of the EU imports of goods from the Western Balkans) and Italy (18%) were also the largest destinations of imports from the Western Balkans. They were followed Slovenia (9%), Hungary and Croatia (7% each). 
* This designation is without prejudice to positions on status, and in line with UNSCR 1244 and the ICJ Opinion on the Kosovo Declaration of Independence.

In Western Balkan countries, manufacturing industry, automotive supply industry and construction sectors are developing rapidly. The support and investments of the European Union is constantly increasing. However, there is not enough production to meet the requirements for the fastener sector yet. Therefore, Western Balkan countries meet the need for fasteners and fixings mostly through imports. We can see the superiority of China, Taiwan, Germany and Italy in fastener export to Western Balkan region. Turkey and Austria are also among the major exporters.





Date : 27.11.2018