In 2024, China significantly strengthened its position in Serbia’s economy, becoming its largest trading partner, overtaking the European Union.
As of 2023, the volume of bilateral trade between China and Serbia amounted to USD 4.35 billion, up 23.7% year-on-year. In 2024, after the entry into force of the Free Trade Agreement between the two countries on July 1, further growth in trade accelerated, which led to an increase in trade with China compared to the EU. This is reported by the Serbian Economist TV channel.
One of the growth factors was the increase in imports of high-tech equipment, electronics and raw materials for the metallurgical industry from China. In addition, China is actively investing in key infrastructure projects in Serbia, such as the construction of an industrial park near Novi Sad and the modernization of the Belgrade-Budapest railway line.
For example, the project to build an industrial park near Novi Sad with an investment of 300 million euros will create about 5,000 new jobs.
Modernization of the Belgrade-Budapest railway line and other infrastructure projects aimed at improving the transport network and logistics in the region.
Strengthening ties with China allows Serbia to diversify its trade relations and reduce its dependence on the EU and Russia, which contributes to sustainable economic growth and development of key industries.
Serbian Economist – https://t.me/relocationrs
