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Hungarian exports dominate trade with Serbia

Hungarian exports still dominate Hungarian-Serbian trade despite an EU unilateral tariff-preference granted to Serbia-Montenegro, the head of Hungary's trade promotion agency ITDH in Belgrade told news wire MTI. There is a demand by the Serbian market for Hungarian food products, and raw materials needed for plastics and furniture industry. On Hungarian investments hundreds of joint ventures were being established in Serbia-Montenegro mainly in the trade and service sectors and Hungarian companies were strongly interested in the Serbian privatization process. According to the Central Statistics Office, imports from Serbia-Montenegro in 2004 totalled USD 107.6 million, 53.2% higher than the year before and Hungary's exports to that country stood at USD 506.7 million, 59.2% up on 2003. The volume of Hungary's imports from Serbia-Montenegro was USD 42.9 million in the first four months this year, 55.7% higher than the same period in 2004, and its exports totalled USD 181.3 million, 58.1% more than in January-April last year.