Chambre de Commerce - Fiche d'information pays Dernière mise à jour: 06.02.2017
The Kingdom of Serbs, Croats, and Slovenes was formed in 1918; its name was changed to Yugoslavia in 1929. Communist Partisans resisted the Axis occupation and division of Yugoslavia from 1941 to 1945 and fought nationalist opponents and collaborators as well. The military and political movement headed by Josip Broz "TITO" (Partisans) took full control of Yugoslavia when their domestic rivals and the occupiers were defeated in 1945. Although communists, TITO and his successors (Tito died in 1980) managed to steer their own path between the Warsaw Pact nations and the West for the next four and a half decades. In 1989, Slobodan MILOSEVIC became president of the Republic of Serbia and his ultranationalist calls for Serbian domination led to the violent breakup of Yugoslavia along ethnic lines. In 1991, Croatia, Slovenia, and Macedonia declared independence, followed by Bosnia in 1992. The remaining republics of Serbia and Montenegro declared a new Federal Republic of Yugoslavia (FRY) in April 1992 and under MILOSEVIC's leadership, Serbia led various military campaigns to unite ethnic Serbs in neighboring republics into a "Greater Serbia." These actions ultimately failed and, after international intervention, led to the signing of the Dayton Peace Accords in 1995.
MILOSEVIC retained control over Serbia and eventually became president of the FRY in 1997. In 1998, an ethnic Albanian insurgency in the formerly autonomous Serbian province of Kosovo provoked a Serbian counterinsurgency campaign that resulted in massacres and massive expulsions of ethnic Albanians living in Kosovo. The MILOSEVIC government's rejection of a proposed international settlement led to NATO's bombing of Serbia in the spring of 1999. Serbian military and police forces withdrew from Kosovo in June 1999, and the UN Security Council authorized an interim UN administration and a NATO-led security force in Kosovo. FRY elections in late 2000 led to the ouster of MILOSEVIC and the installation of democratic government. In 2003, the FRY became the State Union of Serbia and Montenegro, a loose federation of the two republics. Widespread violence predominantly targeting ethnic Serbs in Kosovo in March 2004 led to more intense calls to address Kosovo's status, and the UN began facilitating status talks in 2006. In June 2006, Montenegro seceded from the federation and declared itself an independent nation. Serbia subsequently gave notice that it was the successor state to the union of Serbia and Montenegro.
In February 2008, after nearly two years of inconclusive negotiations, Kosovo declared itself independent of Serbia - an action Serbia refuses to recognize. At Serbia's request, the UN General Assembly (UNGA) in October 2008 sought an advisory opinion from the International Court of Justice (ICJ) on whether Kosovo's unilateral declaration of independence was in accordance with international law. In a ruling considered unfavorable to Serbia, the ICJ issued an advisory opinion in July 2010 stating that international law did not prohibit declarations of independence. In late 2010, Serbia agreed to an EU-drafted UNGA Resolution acknowledging the ICJ's decision and calling for a new round of talks between Serbia and Kosovo, this time on practical issues rather than Kosovo's status. Serbia and Kosovo signed the first agreement of principles governing the normalization of relations between the two countries in April 2013 and are in the process of implementing its provisions. Prime Minister Aleksandar VUCIC, has promoted an ambitious goal of Serbia joining the EU by 2020. Under his leadership, in January 2014 Serbia opened formal negotiations for accession.
Source: The CIA World Factbook - Serbia
Subject descriptor 2014 2015 2016 2017 2018 Gross domestic product, constant prices -1.831 0.741 2.500 2.800 3.500 Gross domestic product, current prices 44.211 36.513 37.755 39.541 42.139 Gross domestic product per capita, current prices 6,199.120 5,119.757 5,293.922 5,544.394 5,908.678 Inflation, average consumer prices 2.082 1.392 1.286 3.151 3.500 Volume of imports of goods and services 3.234 6.073 6.936 6.202 5.947 Volume of exports of goods and services 4.222 8.273 9.890 8.832 7.270 Unemployment rate 20.123 18.510 18.586 18.726 18.312 Current account balance -2.632 -1.751 -1.596 -1.524 -1.591 Current account balance -5.954 -4.794 -4.228 -3.854 -3.777
Source: IMF Statistics - Serbia
Le Luxembourg et le pays
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
Air Services agreement
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Serbia
Embassy of the Grand Duchy of Luxembourg in Serbia
Ambassador with residence in Luxembourg:
Mr. Jean-Louis Thill
6, rue de l'Ancien Athénée
Tel: +352 247 82350
Fax: +352 222048
Economic and Commercial Attaché:
Mrs. Marijana MILOSEVIC TUFEGDZIC
Office of the Commercial Attache- Embassy of Belgium
Koce Kapetana 30, I floor, app 2
Tel ++381 11 3085570
fax ++381 11 344 56 49
Country risk as defined by Office du Ducroire for Serbia
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Other useful links
- CIA World Factbook on Serbia
- La Serbie sur le site de l'AWEX
- Serbia Chamber of Commerce
- Doing Business in Serbia
- PWC- Doing Business and Investing in Serbia
- Das ist Serbien
- Economic Freedom Index - Serbia
- Présentation de la Serbie par trésor
La Chambre de Commerce et le pays
Evénements à venir
- 18.04.2016 - 21.04.2016