The European Union is the most important foreign trading and investment partner of the Republic of Serbia. According to the European Integration Office, in 2014, trade between the Republic of Serbia and the EU Member States amounted to 63.8% of its overall foreign trade.

Under the SAA, trade between the Republic of Serbia and the EU has been fully exempted from customs duties since 1 January 2014, except for certain, particularly sensitive agricultural products.

Exports from the Republic of Serbia to the EU amounted to 7,204 billion euros, while imports from the EU stood at 9,803 billion euros, so that the export-import ratio rose to 73.5%.

The most important destinations for Serbian exports to the EU are Italy, Germany, Romania, Slovenia and Croatia. On the import side, Germany ranks first, followed by Italy, Poland, Hungary, Austria and France.