Serbia’s trade deficit narrowed to USD 746.8 million in July 2026 from USD 849.0 million in the corresponding month of the previous year. Exports rose 6.3% year-on-year to USD 3,488.8 million, supported by higher shipments of capital goods (31.3%), non-durable consumer goods (2.5%), intermediate goods (2.1%), and durable consumer goods (19.7%), while energy exports (-22.8%) and goods unclassified by MIG destination (-28.7%) declined. Meanwhile, imports increased 2.5% to USD 4,235.7 million, driven by higher purchases of capital goods (8.8%), durable consumer goods (19.7%), and non-durable consumer goods (4.9%), while energy imports (10.0%), intermediate goods (3.0%), and goods unclassified by MIG destination (2.7%) also rose.