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[August 31, 2014]
Fiat unit remains Serbia's top exporter in Jan-July 2014 [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) The exports of Fiat Automobili Srbije (FAS) rose 9.8% y/y to EUR 921.6mn in the first seven months of 2014, and the company continued to be Serbia's largest exporter, finance ministry data showed.
The second largest exporter to follow Fiat (a joint venture of Italy's Fiat and the Serbian government) continued to be oil and gas company NIS (the local arm of Russia's Gazprom Neft) with EUR 214.5mn worth of exports in Jan-July, the finance ministry said in its latest macroeconomics report.
Third in the list was Tigar Tyres, the local arm of France's Michelin, which sold goods worth EUR 140mn abroad in the reviewed period. It was followed by petrochemicals producer HIP Petrohemija with EUR 110mn.
FAS and NIS were Serbia's top exporters in 2013 as well with a 13.9% and 2.8% share in total exports, respectively.
Serbia has not yet released full export/import data for the first seven months. According to the latest available statistics office data, Serb foreign trade deficit narrowed 17.4% y/y to EUR 1.99bn in the first half of 2014. Exports increased by 12% y/y to EUR 2.2bn in January-June, while the imports recorded a 2.2% annual hike to EUR 7.5bn over the period. Serbia biggest exporters, EUR mn Company name Industry Jan-Jul'14 Fiat Automobili Srbija (FAS) automobile 921.6 Naftna Industrija Srbije (NIS) oil and gas 214.5 Tigar Tyres tire manufacturing 139.9 HIP-Petrohemija petrochemicals 109.9 Gorenje household appliances 106.3 Zelezara Smederevo steel 91.8 Tetra Pak Production packaging 90.7 Hemofarm pharmaceuticals 84.1 Yura Corporation cables manufacturer 71.3 Tarkett flooring and sport surfaces 70.0 Ball Pakovanja Europa Beograd light metal packaging 68.0 Sirmium Steel metal industry 62.3 RTB Invest metal and ores 61.7 Impol Seval aluminium 57.8 LEONI Wiring Systems Southeast cable/wiring systems 52.1 Source: FinMin (c) 2014 Emerging Markets Direct Media Holdings LLC Provided by SyndiGate Media Inc. (Syndigate.info).
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