Record exports to Russia, import coverage ratio at 54%

Trade between Serbia and Russia in 2013 totaled 3,034.4 million US dollars, up 11.6 percent from 2012, the Serbian Chamber of Commerce announced in a release.

Serbia's exports grew 22.2 percent from the previous year, thus hitting a record high and reaching a nominal value of 1,065.2 million USD.

Imports from Russia were on a decline last year except in the last quarter, growing 6.6 percent from 2012 to USD 1,969.3 million.

Serbia's trade deficit with Russia amounted to USD 904 million, whereas the import coverage ration was at 54 percent.

Russia was Serbia's fourth largest export partner in 2013 with a share of about 7.2 percent and the third largest import partner with a share of 9 percent.