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2022
Flag → Flag
Exports $320MRnk 80 / 224
2022
Flag → Flag
Top Product $40MGas Turbines
2022
Flag → Flag
Exports $530MRnk 20 / 174
2022
Flag → Flag
Top Product $83.9MRubber Tires
2022
Flag
Economic Complexity (ECI) ECI 1.42Rnk 12 / 133
2022
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Economic Complexity (ECI) ECI 0.75Rnk 36 / 133
2022
Flag  
GDP$3.07TCURRENT US$
Rnk 6 / 186
2012-2022
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GDP GROWTH13.5%CURRENT US$
Rnk 139 / 186
2022
Flag
 GDP$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
Flag
GDP GROWTH46.6%CURRENT US$
Rnk 71 / 186
2022
Flag
GDP PC $45,850CURRENT US$
Rnk 23 / 186
2012-2022
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GDP PC GROWTH7.92%CURRENT US$
Rnk 122 / 186
2022
Flag
GDP PC$9,394CURRENT US$
Rnk 80 / 186
2012-2022
Flag
GDP PC GROWTH56.1%CURRENT US$
Rnk 32 / 186

About

United Kingdom-Serbia Trade: In 2022, United Kingdom exported $320M to Serbia. The main products that United Kingdom exported to Serbia were Gas Turbines ($40M), Large Construction Vehicles ($13.5M), and Hard Liquor ($10.2M). Over the past 5 years the exports of United Kingdom to Serbia have increased at an annualized rate of 6.98%, from $229M in 2017 to $320M in 2022.

In 2022, United Kingdom did not export any services to Serbia.

Serbia-United Kingdom Trade: In 2022, Serbia exported $530M to United Kingdom. The main products that Serbia exported to United Kingdom were Rubber Tires ($83.9M), Insulated Wire ($50.7M), and Frozen Fruits and Nuts ($39.6M). Over the past 5 years the exports of Serbia to United Kingdom have increased at an annualized rate of 9.71%,  from $334M in 2017 to $530M in 2022.

In 2019, Serbia exported services to United Kingdom worth $667M, with Other business services ($213M), Computer and information services ($161M), and Transportation ($141M) being the largest in terms of value.

Comparison: In 2022,  United Kingdom ranked 12 in the Economic Complexity Index (ECI 1.42), and 14 in total exports ($469B). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Latest Trends

August, 2024

About

Overview In August 2024, United Kingdom exported £15.6M and imported £22.2M from Serbia, resulting in a negative trade balance of £6.66M. Between August 2023 and August 2024 the exports of United Kingdom have decreased by £-123k (-0.78%) from £15.7M to £15.6M, while imports increased by £134k (0.61%) from £22.1M to £22.2M.

Trade In August 2024, the top exports of United Kingdom to Serbia were Aircraft parts including unmanned craft (£1.2M), Vaccines, blood, antisera, toxins and cultures (£724k), Computers (£680k), Large Construction Vehicles (£602k), and Fork-Lifts (£414k). In August 2024 the top imports of United Kingdom from Serbia were Rubber Tires (£4.85M), Gas Turbines (£3.41M), Liquid Pumps (£3.13M), Insulated Wire (£2.17M), and Tissue (£2.16M).

Origins In August 2024 the exports of United Kingdom were mainly from Dover Eurotunnel (£10.1M), London Heathrow Airport (£2.15M), East Midlands Airport (£1.35M), Dover (£782k), and Hull (£384k), while imports destinations were mainly Dover (£4.22M), Dover Eurotunnel (£1.26M), Oxford Airport (Kidlington) (£956k), and Birmingham Airport (£832k).

Growth In August 2024, the decrease in United Kingdom's year-by-year exports to Serbia was explained primarily by an decrease in product exports in Gas Turbines (£-14.7M or -99.7%), Integrated Circuits (£-408k or -93.3%), and Metalworking Machine Parts (£-125k or -93.1%). In August 2024, the increase in United Kingdom's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Gas Turbines (£1.92M or 128%), Pasta (£617k or 1.99k%), and Motor vehicles; parts and accessories (8701... (£603k or 215%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)£-123k(-0.78%)
IMPORT GROWTH (August 2023 - August 2024)£134k(0.61%)
MAIN EXPORTER (August 2024)Dover Eurotunnel£10.1M

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

To check Serbia and United Kingdom trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Serbia and United Kingdom Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, United Kingdom exported $320M to Serbia. The main products exported from United Kingdom to Serbia were Gas Turbines ($40M), Large Construction Vehicles ($13.5M), and Hard Liquor ($10.2M). During the last 5 years the exports of United Kingdom to Serbia have increased at an annualized rate of 6.98%, from $229M in 2017 to $320M in 2022.

In 2017, Serbia exported $530M to United Kingdom. The main products exported from Serbia to United Kingdom were Rubber Tires ($83.9M), Insulated Wire ($50.7M), and Frozen Fruits and Nuts ($39.6M). During the last 5 years the exports of Serbia to United Kingdom have increased at an annualized rate of 9.71%, from $334M in 2022 to $530M in 2017.

Exports from United Kingdom (Flag) to Serbia (Flag) (2022)

Exports from Serbia (Flag) to United Kingdom (Flag) (2022)

Market Competitiveness

Color
United Kingdom
Top DestinationUnited States$61.8B
Serbia
Top DestinationGermany$4B

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

In 2022, countries that imported more from United Kingdom than Serbia included United States ($61.8B), Netherlands ($41.9B), and Germany ($40.6B).

In 2022, countries that imported more from Serbia than United Kingdom included Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and Croatia ($1.25B).

Difference in imports from Serbia (Flag) and United Kingdom (Flag) (2022)

Comparative Advantage United Kingdom - Serbia

Flow
Scale

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

During 2022, United Kingdom had a large net trade with Serbia in the exports of Machines ($128M), Chemical Products ($39.1M), and Plastics and Rubbers ($25.4M).

During 2017, Serbia had a large net trade with United Kingdom in the exports of Machines ($157M), Plastics and Rubbers ($111M), and Vegetable Products ($55.6M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential United Kingdom Serbia+$15.6MCars
Top Product Potential Serbia United Kingdom+$38.1MInsulated Wire

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 United Kingdom worth $667M, with Other business services ($213M), Computer and information services ($161M), and Transportation ($141M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Serbia (Flag) to United Kingdom (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of United Kingdom (Flag) and Serbia (Flag) (2022)

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