economy
Serbia is a good business host for German companies
More than 900 companies with German capital currently operate in Serbia, employing around 80,000 people. Bilateral goods trade exceeded 10 billion euros in 2025. With a growth of 7.4 percent last year, trade between Serbia and Germany grew three times faster than Germany's total foreign trade with the world, which recorded a growth of 2.5 percent. The latest annual survey by the German-Serbian Chamber of Commerce (NSHK) on business conditions in Serbia shows that 77 percent of surveyed German companies would choose Serbia again as an attractive investment location. However, this is 11 percent less compared to the previous year. 1,528 companies from 15 Central and Eastern European countries participated in the survey, and 23 percent of NSHK members participated in Serbia.
TL;DR
- More than 900 German companies operate in Serbia, employing around 80,000 people.
- Bilateral trade exceeded 10 billion euros in 2025, growing 7.4% year-on-year.
- 77% of German companies would choose Serbia again as an investment location, a decrease of 11% from the previous year.
- Companies are cautious but not withdrawing; future investments are focused on research and development (60%).
- Economic and political conditions are seen as the biggest risks (64%), followed by supply chain disruptions (44%).
- Key advantages of Serbia remain its geographic position, workforce availability and quality, and competitive operating costs.
- Continued EU accession process is crucial for long-term business security and competitiveness.