Bulgaria (BGR) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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Bulgaria-Serbia Trade: In 2022, Bulgaria exported $590M to Serbia. The main products that Bulgaria exported to Serbia were Electricity ($258M), Refined Petroleum ($105M), and Refined Copper ($96.2M). Over the past 5 years the exports of Bulgaria to Serbia have increased at an annualized rate of 3.85%, from $488M in 2017 to $590M in 2022.

In 2022, Bulgaria did not export any services to Serbia.

Serbia-Bulgaria Trade: In 2022, Serbia exported $666M to Bulgaria. The main products that Serbia exported to Bulgaria were Copper Ore ($147M), Hot-Rolled Iron ($61.1M), and Refined Petroleum ($41.5M). Over the past 5 years the exports of Serbia to Bulgaria have increased at an annualized rate of 31.5%, from $169M in 2017 to $666M in 2022.

In 2019, Serbia exported services to Bulgaria worth $111M, with Travel ($31.3M), Other business services ($31.3M), and Transportation ($26.9M) being the largest in terms of value.

Comparison: In 2022, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.68), and 60 in total exports ($51.9B). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Bulgaria exported $590M to Serbia. The main products exported from Bulgaria to Serbia were Electricity ($258M), Refined Petroleum ($105M), and Refined Copper ($96.2M). During the last 5 years the exports of Bulgaria to Serbia have increased at an annualized rate of 3.85%, from $488M in 2017 to $590M in 2022.

In 2017, Serbia exported $666M to Bulgaria. The main products exported from Serbia to Bulgaria were Copper Ore ($147M), Hot-Rolled Iron ($61.1M), and Refined Petroleum ($41.5M). During the last 11 years the exports of Serbia to Bulgaria have increased at an annualized rate of 31.5%, from $169M in 2006 to $666M in 2017.

Exports from Bulgaria () to Serbia () (2022)

Exports from Serbia () to Bulgaria () (2022)

Latest Data

Trade between Bulgaria () and Serbia ()

Bulgaria Exports

Date

Serbia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bulgaria
Top DestinationGermany$6.91B

Serbia
Top DestinationGermany$4B

This map shows whether countries import more from Bulgaria or Serbia. Each country is colored based on the difference in imports they receive from Bulgaria and Serbia or the difference in the growth in imports.

In 2022, countries that imported more from Bulgaria than Serbia included Romania ($6.55B), Germany ($6.91B), and Greece ($2.93B).

In 2022, countries that imported more from Serbia than Bulgaria included Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and Hungary ($1.69B).

Difference in imports from Serbia () and Bulgaria () (2022)

Comparative Advantage Bulgaria - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Bulgaria and Serbia by product, considering products traded by both, Bulgaria and Serbia.

During 2022, Bulgaria had a large net trade with Serbia in the exports of Mineral Products ($411M), Metals ($187M), and Chemical Products ($156M).

During 2017, Serbia had a large net trade with Bulgaria in the exports of Mineral Products ($237M), Metals ($211M), and Foodstuffs ($100M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bulgaria Serbia+$21.5MPetroleum Gas

Top Product Potential Serbia Bulgaria+$15.4MCopper Ore

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Srb Year

In 2019, Serbia exported services to Bulgaria worth $111M, with Travel ($31.3M), Other business services ($31.3M), and Transportation ($26.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Serbia () to Bulgaria () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Bulgaria and Serbia. This means that a dot/product with the flag of Bulgaria indicates it has a comparative advantage over Serbia. Similarly, a dot/product with the flag of Serbia indicates it has a comparative advantage over Bulgaria.

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Historical Data

Bilateral Trade by Products

Exports from Bulgaria () to Serbia () (2022)

Exports from Serbia () to Bulgaria () (2022)

Latest Data

Trade between Bulgaria () and Serbia ()

Bulgaria Exports

Serbia Exports

Market Competitiveness

Difference in imports from Serbia () and Bulgaria () (2022)

Comparative Advantage Bulgaria - Serbia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Serbia () to Bulgaria () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Bulgaria () and Serbia () (2022)

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