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2022
Flag → Flag
Exports $231MRnk 120 / 217
2022
Flag → Flag
Top Product $40.4MRaw Aluminium
2022
Flag → Flag
Exports $18.9MRnk 60 / 174
2022
Flag → Flag
Top Product $3.35MApples and Pears
2022
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 133
2022
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Economic Complexity (ECI) ECI 0.75Rnk 36 / 133
2022
Flag  
GDP$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
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GDP GROWTH85.2%CURRENT US$
Rnk 24 / 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 $2,389CURRENT US$
Rnk 140 / 186
2012-2022
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GDP PC GROWTH66.6%CURRENT US$
Rnk 20 / 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

India-Serbia Trade: In 2022, India exported $231M to Serbia. The main products that India exported to Serbia were Raw Aluminium ($40.4M), Ferroalloys ($21.5M), and Nitrogen Heterocyclic Compounds ($8.71M). Over the past 5 years the exports of India to Serbia have increased at an annualized rate of 9.43%, from $147M in 2017 to $231M in 2022.

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

Serbia-India Trade: In 2022, Serbia exported $18.9M to India. The main products that Serbia exported to India were Apples and Pears ($3.35M), Seats ($2.07M), and Low-voltage Protection Equipment ($1.11M). Over the past 5 years the exports of Serbia to India have decreased at an annualized rate of 5.03%,  from $24.5M in 2017 to $18.9M in 2022.

In 2019, Serbia exported services to India worth $13.4M, with Travel ($5.6M), Personal, cultural, and recreational services ($4.48M), and Other business services ($2.24M) being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). 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, India exported $5.96M and imported $1.46M from Serbia, resulting in a positive trade balance of $4.5M. Between August 2023 and August 2024 the exports of India have decreased by $-2.22M (-27.1%) from $8.18M to $5.96M, while imports increased by $785k (117%) from $672k to $1.46M.

Trade In August 2024, the top exports of India to Serbia were Bulk Drugs, Drug Intermediates ($1.02M), Indl. Machnry For Dairy Etc ($600k), Electric Machinery And Equipme ($583k), Residul Chemicl And Alled Prod ($560k), and Drug Formulations, Biologicals ($456k). In August 2024 the top imports of India from Serbia were Fresh Fruits ($302k), Other Misc. Engineering Items ($165k), Electric Machinery And Equipme ($101k), Electronics Components ($86.9k), and Plywood And Allied Products ($49.6k).

Growth In August 2024, the decrease in India's year-by-year exports to Serbia was explained primarily by an decrease in product exports in Residul Chemicl And Alled Prod ($-651k or -53.8%), Products Of Iron And Steel ($-218k or -65.1%), and Electronics Components ($-161k or -90.6%). In August 2024, the increase in India's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Electric Machinery And Equipme ($81.6k or 418%) and Electronics Instruments ($424 or 62%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)$-2.22M(-27.1%)
IMPORT GROWTH (August 2023 - August 2024)$785k(117%)

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

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

For full datasets download visit Bulk Download page.

Explore Serbia and India Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $231M to Serbia. The main products exported from India to Serbia were Raw Aluminium ($40.4M), Ferroalloys ($21.5M), and Nitrogen Heterocyclic Compounds ($8.71M). During the last 5 years the exports of India to Serbia have increased at an annualized rate of 9.43%, from $147M in 2017 to $231M in 2022.

In 2017, Serbia exported $18.9M to India. The main products exported from Serbia to India were Apples and Pears ($3.35M), Seats ($2.07M), and Low-voltage Protection Equipment ($1.11M). During the last 5 years the exports of Serbia to India have decreased at an annualized rate of 5.03%, from $24.5M in 2022 to $18.9M in 2017.

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

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

Market Competitiveness

Color
India
Top DestinationUnited States$82.9B
Serbia
Top DestinationGermany$4B

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

In 2022, countries that imported more from India than Serbia included United States ($82.9B), United Arab Emirates ($31.6B), and Netherlands ($17.6B).

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

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

Comparative Advantage India - Serbia

Flow
Scale

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

During 2022, India had a large net trade with Serbia in the exports of Metals ($77M), Chemical Products ($44.8M), and Machines ($35M).

During 2017, Serbia had a large net trade with India in the exports of Machines ($6.19M), Vegetable Products ($3.94M), and Miscellaneous ($2.08M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Serbia+$19MTelephones
Top Product Potential Serbia India+$3.58MSeats

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 India worth $13.4M, with Travel ($5.6M), Personal, cultural, and recreational services ($4.48M), and Other business services ($2.24M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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