Iceland (ISL) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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Iceland-Serbia Trade: In 2022, Iceland exported $873k to Serbia. The main products that Iceland exported to Serbia were Special Purpose Ships ($410k), Non-fillet Frozen Fish ($269k), and Refined Petroleum ($96.3k). Over the past 5 years the exports of Iceland to Serbia have increased at an annualized rate of 15.9%, from $418k in 2017 to $873k in 2022.

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

Serbia-Iceland Trade: In 2022, Serbia exported $5.83M to Iceland. The main products that Serbia exported to Iceland were Packaged Medicaments ($1.07M), Rubber Tires ($824k), and Cellulose Fibers Paper ($591k). Over the past 5 years the exports of Serbia to Iceland have increased at an annualized rate of 9.52%, from $3.08M in 2017 to $5.83M in 2022.

In 2019, Serbia exported services to Iceland worth $6.72M, with Computer and information services ($4.48M), Travel ($1.12M), and Other business services ($1.12M) being the largest in terms of value.

Comparison In 2022, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. 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, Iceland exported $873k to Serbia. The main products exported from Iceland to Serbia were Special Purpose Ships ($410k), Non-fillet Frozen Fish ($269k), and Refined Petroleum ($96.3k). During the last 5 years the exports of Iceland to Serbia have increased at an annualized rate of 15.9%, from $418k in 2017 to $873k in 2022.

In 2017, Serbia exported $5.83M to Iceland. The main products exported from Serbia to Iceland were Packaged Medicaments ($1.07M), Rubber Tires ($824k), and Cellulose Fibers Paper ($591k). During the last 5 years the exports of Serbia to Iceland have increased at an annualized rate of 9.52%, from $3.08M in 2022 to $5.83M in 2017.

Exports from Iceland () to Serbia () (2022)

Exports from Serbia () to Iceland () (2022)

Latest Data

Trade between Iceland () and Serbia ()

Iceland Exports

Date

Serbia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Serbia
Top DestinationGermany$4B

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

In 2022, countries that imported more from Iceland than Serbia included Netherlands ($1.97B), Norway ($459M), and Denmark ($257M).

In 2022, countries that imported more from Serbia than Iceland included Germany ($4B), Bosnia and Herzegovina ($2.14B), and Italy ($2.1B).

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

Comparative Advantage Iceland - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Iceland had a large net trade with Serbia in the exports of Transportation ($410k), Animal Products ($313k), and Mineral Products ($96.3k).

During 2017, Serbia had a large net trade with Iceland in the exports of Plastics and Rubbers ($1.45M), Chemical Products ($1.3M), and Paper Goods ($619k).

Bilateral Service Trade

Srb Year

In 2019, Serbia exported services to Iceland worth $6.72M, with Computer and information services ($4.48M), Travel ($1.12M), and Other business services ($1.12M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Iceland () to Serbia () (2022)

Exports from Serbia () to Iceland () (2022)

Latest Data

Trade between Iceland () and Serbia ()

Iceland Exports

Serbia Exports

Market Competitiveness

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

Comparative Advantage Iceland - Serbia

Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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