Strong domestic demand-led recovery underway
B2
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in October 2021.
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GDP |
|
|
Population |
|
|
Form of state | Parliamentary Republic | |
Head of government | Ana BRNABIC (Prime Minister) | |
Next elections | 2022, presidential |

- Strong growth potential
- Comfortable level of foreign exchange reserves
- Track record of currency stability
- Low labor cost plus generous state subsidies for foreign companies
- Continued substantial FDI inflows

- Unresolved Kosovo conflict
- Elevated public debt
- High external debt burden, including external arrears
- Deficient infrastructure (roads, railways)
- Elevated level of perceived corruption and bureaucracy
Trade structure by destination/origin
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Germany
12.9%
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1 |
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Italy
8.4%
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2 |
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Bosnia and Herzegovina
7.1%
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3 |
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Romania
6.5%
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4 |
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Hungary
4.7
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5 |
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Trade structure by product
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Electrical machinery, apparatus and appliances, n.e.s.
12.4%
|
1 |
7.0%
Electrical machinery, apparatus and appliances, n.e.s.
|
Cereals and cereal preparations
5.1%
|
2 |
4.8%
Medicinal and pharmaceutical products
|
Vegetables and fruits
5.1%
|
3 |
4.8%
Other industrial machinery and parts
|
Power generating machinery and equipment
4.8%
|
4 |
4.7%
Road vehicles
|
Rubber manufactures, n.e.s.
4.4%
|
5 |
4.5%
Petroleum, petroleum products and related materials
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