Continuity Trade Agreement (CTA) and bilateral trade update 

Continuity Trade Agreement (CTA) and bilateral trade update 

We are hopeful that a UK/Serbia Continuity Trade Agreement (CTA) will be completed soon.  Both Governments confirm that good progress has been made and that they are confident of reaching agreement.  We encourage both governments to resolve any outstanding points speedily and to put processes in hand so that the CTA can come into force as soon as possible and minimise any further disruption to bilateral trade.

As it happens, both countries have recently published the statistics for UK Serbian bilateral trade for 2020. The reported values from the Serbian Statistical Office (RZS) and the UK Office for National Statistics (ONS) are as follows:

RZS - UK Exports/Serbian Imports 192 million 272 million
ONS - UK Imports/Serbian Exports 264 million 334 million

The figures for UK Imports/Serbian Exports is effectively identical taking into account exchange rates, but the RZS identifies more UK Exports/Serbian Imports the the ONS does ($334m is the equivalent of £212m).  As in the last few years, both statistical agencies report the UK running a deficit.

The ONS have also published a breakdown of the largest sectors and trends over the last five years:

The sectors are mostly self explanatory and come as little surprise.