Serb Current-Account Deficit Widens 27.7% on Bigger Trade Gap

Serbia’s current-account deficit widened 27.7 percent in the first nine months from a year earlier as the trade gap expanded, remittances fell and foreign direct investments declined.

The January-September shortfall reached 2.46 billion euros ($3.17 billion), the Belgrade-based Narodna Banka Srbije said on its website today. The monthly gap almost doubled to 279.6 million euros compared with August.

The trade deficit expanded 9.5 percent from a year earlier to almost 4.03 billion euros, as imports increased 4.4 percent while exports grew 1.5 percent.

Remittances through September dropped 13.6 percent from a year earlier to 1.4 billion euros, while foreign direct investments were negative, the bank said. Nine-month portfolio investment fell 94 percent to 96.5 million euros from 1.64 billion euros a year earlier.

The central bank forecasts this year’s current-account gap at 3.1 billion euros, or 10.7 percent of gross domestic product.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.