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2022
Flag → Flag
Exports $668MRnk 59 / 218
2022
Flag → Flag
Top Product $64.7MPig Meat
2022
Flag → Flag
Exports $670MRnk 18 / 174
2022
Flag → Flag
Top Product $313MCopper Ore
2022
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Economic Complexity (ECI) ECI 0.81Rnk 33 / 133
2022
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Economic Complexity (ECI) ECI 0.75Rnk 36 / 133
2022
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GDP$1.4TCURRENT US$
Rnk 15 / 186
2012-2022
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GDP GROWTH5.49%CURRENT US$
Rnk 154 / 186
2022
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 GDP$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
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GDP GROWTH46.6%CURRENT US$
Rnk 71 / 186
2022
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GDP PC $29,350CURRENT US$
Rnk 40 / 186
2012-2022
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GDP PC GROWTH3.63%CURRENT US$
Rnk 132 / 186
2022
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GDP PC$9,394CURRENT US$
Rnk 80 / 186
2012-2022
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GDP PC GROWTH56.1%CURRENT US$
Rnk 32 / 186

About

Spain-Serbia Trade: In 2022, Spain exported $668M to Serbia. The main products that Spain exported to Serbia were Pig Meat ($64.7M), Vaccines, blood, antisera, toxins and cultures ($50.1M), and Planes, Helicopters, and/or Spacecraft ($27.8M). Over the past 5 years the exports of Spain to Serbia have increased at an annualized rate of 15.6%, from $324M in 2017 to $668M in 2022.

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

Serbia-Spain Trade: In 2022, Serbia exported $670M to Spain. The main products that Serbia exported to Spain were Copper Ore ($313M), Rubber Tires ($107M), and Seats ($27.9M). Over the past 5 years the exports of Serbia to Spain have increased at an annualized rate of 17.7%,  from $214M in 2017 to $670M in 2022.

In 2019, Serbia exported services to Spain worth $67.2M, with Travel ($26.9M), Other business services ($19M), and Transportation ($7.84M) being the largest in terms of value.

Comparison: In 2022,  Spain ranked 33 in the Economic Complexity Index (ECI 0.81), and 20 in total exports ($394B). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Latest Trends

July, 2024

About

Overview In July 2024, Spain exported €52M and imported €46.6M from Serbia, resulting in a positive trade balance of €5.4M. Between July 2023 and July 2024 the exports of Spain have increased by €14.8M (39.7%) from €37.2M to €52M, while imports increased by €18.8M (67.4%) from €27.8M to €46.6M.

Trade In July 2024, the top exports of Spain to Serbia were Pig Meat (€4.03M), Electrical Lighting and Signalling Equipment (€1.33M), Tractors (€1.31M), Planes, Helicopters, and/or Spacecraft (€1.08M), and Perfumes (€967k). In July 2024 the top imports of Spain from Serbia were Rubber Tires (€6.79M), Seats (€2.39M), Cleaning Products (€1.66M), Cellulose Fibers Paper (€1.57M), and Packaged Medicaments (€1.08M).

Origins In July 2024 the exports of Spain were mainly from Barcelona (€12.4M), Zaragoza (€4.39M), Pontevedra (€3.11M), Castellón (€3.03M), and Madrid (€2.87M), while imports destinations were mainly Barcelona (€10.9M), Madrid (€9M), Murcia (€4.94M), Pontevedra (€3.17M), and Álava (€2.72M).

Growth In July 2024, the increase in Spain's year-by-year exports to Serbia was explained primarily by an increase in product exports in Tractors (€1.05M or 411%), Perfumes (€520k or 116%), and Light Fixtures (€432k or 187%). In July 2024, the increase in Spain's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Cellulose Fibers Paper (€670k or 74.2%), Refrigerators (€568k or 1.6k%), and Cleaning Products (€465k or 39%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)€14.8M(39.7%)
IMPORT GROWTH (July 2023 - July 2024)€18.8M(67.4%)
MAIN EXPORTER (July 2024)Barcelona€12.4M

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

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

For full datasets download visit Bulk Download page.

Explore Serbia and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Spain exported $668M to Serbia. The main products exported from Spain to Serbia were Pig Meat ($64.7M), Vaccines, blood, antisera, toxins and cultures ($50.1M), and Planes, Helicopters, and/or Spacecraft ($27.8M). During the last 5 years the exports of Spain to Serbia have increased at an annualized rate of 15.6%, from $324M in 2017 to $668M in 2022.

In 2017, Serbia exported $670M to Spain. The main products exported from Serbia to Spain were Copper Ore ($313M), Rubber Tires ($107M), and Seats ($27.9M). During the last 5 years the exports of Serbia to Spain have increased at an annualized rate of 17.7%, from $214M in 2022 to $670M in 2017.

Exports from Spain (Flag) to Serbia (Flag) (2022)

Exports from Serbia (Flag) to Spain (Flag) (2022)

Market Competitiveness

Color
Spain
Top DestinationFrance$65.2B
Serbia
Top DestinationGermany$4B

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

In 2022, countries that imported more from Spain than Serbia included France ($65.2B), Germany ($39.2B), and Portugal ($34.9B).

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

Difference in imports from Serbia (Flag) and Spain (Flag) (2022)

Comparative Advantage Spain - Serbia

Flow
Scale

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

During 2022, Spain had a large net trade with Serbia in the exports of Chemical Products ($107M), Machines ($90.8M), and Animal Products ($89.8M).

During 2017, Serbia had a large net trade with Spain in the exports of Mineral Products ($313M), Plastics and Rubbers ($145M), and Machines ($43.8M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Serbia+$22.9MCars
Top Product Potential Serbia Spain+$13.4MMotor vehicles; parts and accessories (8701 to 8705)

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

In 2019, Serbia exported services to Spain worth $67.2M, with Travel ($26.9M), Other business services ($19M), and Transportation ($7.84M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Serbia (Flag) to Spain (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Spain (Flag) and Serbia (Flag) (2022)

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