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2023
Flag → Flag
Exports $1.83BRnk 19 / 201
2023
Flag → Flag
Top Product $168MPetroleum Gas
2023
Flag → Flag
Exports $2.26BRnk 2 / 184
2023
Flag → Flag
Top Product $657MElectricity
2023
Flag
Economic Complexity (ECI) ECI 1.41Rnk 14 / 132
2023
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Economic Complexity (ECI) ECI 0.76Rnk 35 / 132
2023
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GDP$212BCURRENT US$
Rnk 56 / 195
2013-2023
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GDP GROWTH56.5%CURRENT US$
Rnk 60 / 195
2023
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 GDP$81.3BCURRENT US$
Rnk 77 / 195
2013-2023
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GDP GROWTH61.2%CURRENT US$
Rnk 53 / 195
2023
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GDP PC $22,142CURRENT US$
Rnk 58 / 195
2013-2023
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GDP PC GROWTH61.4%CURRENT US$
Rnk 29 / 195
2023
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GDP PC$12,282CURRENT US$
Rnk 82 / 196
2013-2023
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GDP PC GROWTH74.4%CURRENT US$
Rnk 20 / 195

About

Hungary-Serbia Trade: In 2023, Hungary exported $1.83B to Serbia. The main products that Hungary exported to Serbia were Petroleum Gas ($168M), Refined Petroleum ($166M), and Electricity ($149M). Over the past 5 years the exports of Hungary to Serbia have increased at an annualized rate of 5.34%, from $1.41B in 2018 to $1.83B in 2023.

In 2023, Hungary did not export any services to Serbia.

Serbia-Hungary Trade: In 2023, Serbia exported $2.26B to Hungary. The main products that Serbia exported to Hungary were Electricity ($657M), Insulated Wire ($443M), and Integrated Circuits ($90.6M). Over the past 5 years the exports of Serbia to Hungary have increased at an annualized rate of 16%,  from $1.08B in 2018 to $2.26B in 2023.

In 2019, Serbia exported services to Hungary worth $143M, with Transportation ($62.7M), Other business services ($45.9M), and Travel ($19M) being the largest in terms of value.

Comparison: In 2023,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.41), and 35 in total exports ($150B). That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Hungary exported $1.83B to Serbia. The main products exported from Hungary to Serbia were Petroleum Gas ($168M), Refined Petroleum ($166M), and Electricity ($149M). During the last 5 years the exports of Hungary to Serbia have increased at an annualized rate of 5.34%, from $1.41B in 2018 to $1.83B in 2023.

In 2018, Serbia exported $2.26B to Hungary. The main products exported from Serbia to Hungary were Electricity ($657M), Insulated Wire ($443M), and Integrated Circuits ($90.6M). During the last 5 years the exports of Serbia to Hungary have increased at an annualized rate of 16%, from $1.08B in 2023 to $2.26B in 2018.

Exports from Hungary (Flag) to Serbia (Flag) (2023)

Exports from Serbia (Flag) to Hungary (Flag) (2023)

Latest Data

Trade between Hungary (Flag) and Serbia (Flag)

Hungary Exports

Serbia Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$37.4B
Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Hungary than Serbia included Germany ($37.4B), Italy ($9.08B), and United States ($7.66B).

In 2023, countries that imported more from Serbia than Hungary included Bosnia and Herzegovina ($1.77B), Montenegro ($995M), and North Macedonia ($932M).

Difference in imports from Serbia (Flag) and Hungary (Flag) (2023)

Comparative Advantage Hungary - Serbia

Flow
Scale

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

During 2023, Hungary had a large net trade with Serbia in the exports of Mineral Products ($505M), Machines ($328M), and Chemical Products ($230M).

During 2018, Serbia had a large net trade with Hungary in the exports of Machines ($869M), Mineral Products ($749M), and Plastics and Rubbers ($149M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Serbia+$53.4MCars
Top Product Potential Serbia Hungary+$36.6MElectricity

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 Hungary worth $143M, with Transportation ($62.7M), Other business services ($45.9M), and Travel ($19M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Hungary (Flag) and Serbia (Flag) (2023)

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