🇷🇸 Serbia

Serbia is a landlocked Balkan country of 6.6 million with a GDP of about $65 billion. Belgrade, at the confluence of the Danube and Sava rivers, is one of Europe's oldest cities and has a legendary nightlife scene — the floating river clubs (splavovi) are famous. Serbia is an EU candidate but also maintains close ties with Russia and China, walking a diplomatic tightrope. The country hasn't recognized Kosovo's independence, and the issue dominates its foreign policy. Serbia has attracted significant Chinese investment, including a copper smelter and tire factory. Novak Djokovic, arguably the greatest tennis player ever, is Serbian — and a national hero.

Automotive (Fiat/Stellantis has a plant in Kragujevac), agriculture (Serbia is a major fruit exporter, particularly raspberries — about 30% of global production), IT services, and mining are the main sectors. Germany, Italy, and China are the top trade partners. GDP growth has been around 3-4%. The dinar has been relatively stable. Serbia's IT sector has grown rapidly, with Belgrade becoming a regional tech hub. The country has significant lithium deposits (the Jadar project) that could supply Europe's EV battery industry, though the mine faces strong local opposition.

Serbia produces about a third of the world's raspberries — the town of Arilje is the global raspberry capital. Nikola Tesla, one of history's greatest inventors, was an ethnic Serb (born in modern-day Croatia). Belgrade's Kalemegdan Fortress has been destroyed and rebuilt over 115 times in its 2,000+ year history — more than any other fortress in the world.

Serbia's balancing act between the EU and Russia/China is increasingly difficult to maintain. The lithium deposit could be transformative for both Serbia and European supply chains, but the political and environmental hurdles are significant.