Serbian textile exports increased eight per cent year-on-year in value in 2003, the Serbian Chamber of Commerce and Industry said this week.

According to the organisation, exports for the 12-month period stood at EUR173.2 million, while the total value of textile imports increased 14 per cent year-on-year to EUR470.5 million.

Meanwhile, the country's textile and clothing industry marked a 37 per cent year-on-year decrease in yarn and fabric production in 2003, as well as a 32 per cent year-on-year fall in the production of finished textile products.

A lack of government incentives for Serbian exporters and increasing liberalisation of imports were to blame for the production slowdown, the chamber's textile and apparel adviser Zoja Stojanovic said.