economy
May 3, 2026
Can geopolitical tensions increase Serbia's dependence on imported medicines?
The pharmaceutical industry is the second largest item in Serbia's import structure, right after oil, with a foreign trade deficit exceeding 1.16 billion euros. However, while everyone is concerned about energy security in the 'frenzied' geopolitical situation, few mention Serbia's dependence on imported medicines and medical supplies, as well as the possible supply crisis.
TL;DR
- Serbia's pharmaceutical sector has a foreign trade deficit of over 1.16 billion euros, making it the second-largest import item after oil.
- The privatization of domestic pharmaceutical companies has led to a loss of national control over this strategic sector.
- Geopolitical tensions, particularly in the Middle East, can indirectly affect pharmaceutical supply chains through disruptions in energy and transport.
- While raw material sources are generally distant from conflict zones, the transport of inputs and finished products remains a potential vulnerability.
- Serbia relies heavily on imports for raw materials, with primary synthesis now often conducted in South Korea, China, and India.
- Out of 130 companies authorized to distribute medicines, only 24 are manufacturers in Serbia, and just seven perform the entire production process.
- In medical devices, only 61 out of 3,828 registered manufacturers worldwide are from Serbia.
- The import of dietary supplements is nearly equal to their export, valued at over 78 million euros and over 79 million euros, respectively.
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