is a small textile and clothing producer, still struggling to overcome
the upheavals of the 1990s, which included the break-up of Yugoslavia,
the Balkans conflicts, privatisations and the reorientation of the
economy. BMI ranks it as number 70 in the world in terms of textile and
clothing manufacturing value added. In nominal terms, we estimate that
to have been worth US$4.2bn in 2008.
natural market for Serbian textile and clothing exports is Europe, but
the Continent is now in the throes of a recession, meaning that the
outlook for the Serbian industry is fairly bleak over 2009 and 2010.
Overall Serbian textile and clothing value added will fall by 14.8% in
2009, and again by 4.5% in 2010, reflecting very difficult
international economic conditions. We see a moderate recovery setting
in from 2011, with growth of 3.1%. The industry’s trade performance
will also reflect the especially difficult international economic
situation. There will be a textile and clothing trade deficit of
US$269mn in 2009