China (CHN) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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China (CHN) and Serbia (SRB) Trade

2022

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Exports $1.06BRnk 84 / 211

2022

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About

China-Serbia Trade: In 2022, China exported $1.06B to Serbia. The main products that China exported to Serbia were Broadcasting Equipment ($287M), Steam Boilers ($180M), and Air Pumps ($75.1M). Over the past 5 years the exports of China to Serbia have increased at an annualized rate of 10.1%, from $657M in 2017 to $1.06B in 2022.

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

Serbia-China Trade: In 2022, Serbia exported $126M to China. The main products that Serbia exported to China were Copper Ore ($913M), Refined Copper ($133M), and Precious Metal Ore ($78.5M). Over the past 5 years the exports of Serbia to China have increased at an annualized rate of 67.8%, from $9.5M in 2017 to $126M in 2022.

In 2019, Serbia exported services to China worth $85.1M, with Travel ($36.9M), Construction services ($22.4M), and Transportation ($10.1M) being the largest in terms of value.

Comparison: In 2022, China ranked 22 in the Economic Complexity Index (ECI 1.12), and 1 in total exports ($3.73T). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Latest Trends

May, 2024

About

Overview In May 2024, China exported $267M and imported $251M from Serbia, resulting in a positive trade balance of $15.4M. Between May 2023 and May 2024 the exports of China have increased by $21.1M (8.57%) from $246M to $267M, while imports increased by $131M (108%) from $121M to $251M.

Trade In May 2024, the top exports of China to Serbia were Air Pumps ($14.5M), Telephones ($8.74M), Machinery Having Individual Functions ($8.44M), Air Conditioners ($6.35M), and Metal Molds ($6.17M). In May 2024 the top imports of China from Serbia were Copper Ore ($105M), Electric Motors ($9.27M), Precious Metal Ore ($4.77M), Sawn Wood ($2.05M), and Low-voltage Protection Equipment ($1.98M).

Origins In May 2024 the exports of China were mainly from Zhejiang Province ($55.5M), Guangdong Province ($46.8M), Jiangsu Province ($41.6M), Shandong Province ($24.2M), and Fujian Province ($20.4M), while imports destinations were mainly Guangxi Zhuang Autonomous Region ($65.6M), Beijing ($53.7M), Zhejiang Province ($31.8M), Shandong Province ($24.8M), and Xingjiang Uygur Autonomous Region ($20.5M).

Growth In May 2024, the increase in China's year-by-year exports to Serbia was explained primarily by an increase in product exports in Air Pumps ($8.21M or 130%), Machinery Having Individual Functions ($4.93M or 140%), and Metal Molds ($4.79M or 347%). In May 2024, the increase in China's year-by-year imports from Serbia was explained primarily by an increase in product imports in Copper Ore ($68.7M or 189%), Electric Motors ($7.8M or 533%), and Low-voltage Protection Equipment ($1.21M or 158%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (May 2023 - May 2024)$21.1M(8.57%)

IMPORT GROWTH (May 2023 - May 2024)$131M(108%)

MAIN EXPORTER (May 2024)Zhejiang Province$55.5M

This section shows exports and imports data at subnational level for China. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of China over time.

To check Serbia and China trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, China exported $1.06B to Serbia. The main products exported from China to Serbia were Broadcasting Equipment ($287M), Steam Boilers ($180M), and Air Pumps ($75.1M). During the last 5 years the exports of China to Serbia have increased at an annualized rate of 10.1%, from $657M in 2017 to $1.06B in 2022.

In 2017, Serbia exported $126M to China. The main products exported from Serbia to China were Copper Ore ($913M), Refined Copper ($133M), and Precious Metal Ore ($78.5M). During the last 11 years the exports of Serbia to China have increased at an annualized rate of 67.8%, from $9.5M in 2006 to $126M in 2017.

Exports from China () to Serbia () (2022)

Exports from Serbia () to China () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

China
Top DestinationUnited States$551B

Serbia
Top DestinationGermany$4B

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

In 2022, countries that imported more from China than Serbia included United States ($551B), Hong Kong ($276B), and Japan ($178B).

In 2022, countries that imported more from Serbia than China included Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and North Macedonia ($1.03B).

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

Comparative Advantage China - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, China had a large net trade with Serbia in the exports of Machines ($1.93B), Metals ($377M), and Chemical Products ($211M).

During 2017, Serbia had a large net trade with China in the exports of Mineral Products ($998M), Metals ($135M), and Machines ($72.2M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential China Serbia+$133MTelephones

Top Product Potential Serbia China+$101MCopper 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 China worth $85.1M, with Travel ($36.9M), Construction services ($22.4M), and Transportation ($10.1M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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

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