ASSESSING SERBIAN IRON AND STEEL EXPORTS TO THE EU UNDER CBAM

Abstract

Iron and steel products in Serbia is mostly oriented towards export to the EU market. The aim of the paper is to assess Serbian exports to the EU of various products from the iron and steel sector that will be covered by Carbon Border Adjustment Mechanism (CBAM) and conduct a comparative analysis of greenhouse gas (GHG) emissions of these products to the EU. The findings of this paper suggest that 60% of total value of Serbian iron and steel exports will be effected by the CBAM. Additionally, it is observed that five specific iron and steel products dominate Serbian exports to the EU and are significantly exposed to CBAM regulations. Furthermore, the analysis reveals that the direct emissions associated with these products are, on average, 25% higher than the emissions within the EU, while indirect emissions are, on average, more than three times higher than those in the EU