Hungary (HUN) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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Hungary-Serbia Trade: In 2022, Hungary exported $1.69B to Serbia. The main products that Hungary exported to Serbia were N/A. Over the past 5 years the exports of Hungary to Serbia have increased at an annualized rate of 19.1%, from $706M in 2017 to $1.69B in 2022.

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

Serbia-Hungary Trade: In 2022, Serbia exported $659M to Hungary. The main products that Serbia exported to Hungary were Insulated Wire ($258M), Electricity ($210M), and Integrated Circuits ($76M). Over the past 5 years the exports of Serbia to Hungary have increased at an annualized rate of 24.4%, from $221M in 2017 to $659M in 2022.

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 2022, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). 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, Hungary exported $1.69B to Serbia. There were not main exports from Hungary to Serbia in 2022. During the last 5 years the exports of Hungary to Serbia have increased at an annualized rate of 19.1%, from $706M in 2017 to $1.69B in 2022.

In 2017, Serbia exported $659M to Hungary. The main products exported from Serbia to Hungary were Insulated Wire ($258M), Electricity ($210M), and Integrated Circuits ($76M). During the last 11 years the exports of Serbia to Hungary have increased at an annualized rate of 24.4%, from $221M in 2006 to $659M in 2017.

Exports from Hungary () to Serbia () (2022)

Exports from Serbia () to Hungary () (2022)

Latest Data

Trade between Hungary () and Serbia ()

Hungary Exports

Date

Serbia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$35.5B

Serbia
Top DestinationGermany$4B

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 2022, countries that imported more from Hungary than Serbia included Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

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

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

Comparative Advantage Hungary - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Hungary had a large net trade with Serbia in the exports of N/A.

During 2017, Serbia had a large net trade with Hungary in the exports of Machines ($600M), Mineral Products ($308M), and Metals ($165M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

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

Srb Year

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 () to Hungary () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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.

About

Historical Data

Bilateral Trade by Products

Exports from Hungary () to Serbia () (2022)

Exports from Serbia () to Hungary () (2022)

Latest Data

Trade between Hungary () and Serbia ()

Hungary Exports

Serbia Exports

Market Competitiveness

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

Comparative Advantage Hungary - Serbia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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