Serbia posts strong CEFTA trade surplus, rising public debt and consumer‑credit growth in H1 2026

In the first six months of 2026 Serbia recorded a trade surplus of more than €1.5 billion with CEFTA countries, driven by exports of cereals, beverages, vehicles, medical products and machinery. The export‑to‑import coverage exceeded 300 percent, reaching 303 percent.

Public debt rose by 16.2 billion dinars in June to 4.856 trillion dinars, representing 43.8 percent of GDP. Foreign investors held €124.3 billion of state bonds, accounting for 15.2 percent of the total, a modest recovery toward 2024 levels but far below the 30 percent share seen in 2019.

Total borrowing by households and firms grew to 4.701 trillion dinars, up 15.6 percent year‑on‑year. Cash loans to consumers reached 1.046 trillion dinars, a 20.8 percent increase, marking the fastest rise among loan categories. Housing and adaptation loans also rose sharply, while consumer‑credit average balances reached 221 thousand dinars per loan.