Serbia has an economy based mostly on various services, industry and agriculture. It is considered as an upper-middle income economy by the World Bank. Serbia grows about one-third of the world's raspberries and is the leading frozen fruit exporter. The European Union is Serbia´s most important trading partner. Serbia expects some major economic impulses and high growth rates in the following years as it is called a "Balkan tiger" due to its recent high economic growth rates. Main exports are manufactured goods, pharmaceuticals, food and live animals, machinery and transport equipment.