Kosovo’s customs duties have caused Serbia a loss of EUR 35 million

Kosovo’s customs duties have caused Serbia a loss of EUR 35 million

The 100% tariffs imposed by the Kosovo government on 21 November on imported products from Serbia have already begun to have a negative impact on the Serbian economy. Exports to Kosovo have stopped altogether, with 2662 Serbian companies that sold their products on the Kosovo market facing serious problems.

As Serbia’s Trade Minister Rasim Ljajic said today, from the day of the imposition of measures to date, direct losses to Serbia amount to 34.6 million euros. Mr Ljajic pointed out that Pristina’s decision led to an increase in the underground economy and the revival of smuggling networks, mainly in the northern part of Kosovo, where the Serb population is the majority. Trafficking phenomena are also observed in the south where some Serbian consumer products (biscuits, chocolates, detergents…) are sold on the black market.

According to official figures, Serbia-Kosovo annual trade used to reach about 460 million euros. Serbia exported products to Kosovo worth 430 million euros while imports from Kosovo ranged around 23 million euros. Serbian companies exported to Kosovo oil, electricity, chemicals, building materials, pastries, milk and sugar. From Kosovo, Serbia imported copper, plastics, fruits and skins./IBNA