EU-Western Balkans trade

The EU has strong trade ties with the Western Balkan countries (Figure 3) and is a large investor in the region. In 2022, Albania’s total volume of trade in goods with the EU was €7.1 billion; Bosnia and Herzegovina’s was €15.1 billion; Kosovo’s, €2.7 billion; Montenegro’s, €1.78 billion; North Macedonia’s, €13.8 billion; and Serbia’s, €36.5 billion. The same year, total EU foreign direct investment amounted to over €11 billion in Albania; €5.3 billion in Bosnia and Herzegovina; €2 billion in Kosovo; €500 million in Montenegro; €4.5 billion in North Macedonia; and €20.9 billion in Serbia.
The EU is the largest provider of financial assistance to the region, supporting the countries’ socioeconomic development and fundamental reforms with financial and technical assistance through the Instrument for Pre-accession Assistance. In the period between 2021 and 2023, Albania received €250 million from IPA III; Bosnia and Herzegovina received €256 million; Kosovo, €231 million; Montenegro, €135 million; North Macedonia, €265 million; and Serbia, €571 million.