2021
Flag  
GDP
$2.11TCURRENT US$
Rnk 8 / 204
2011-2021
Flag
GDP GROWTH
-7.87%CURRENT US$
Rnk 181 / 204
2021
Flag
 GDP
$63.1BCURRENT US$
Rnk 83 / 204
2011-2021
Flag
GDP GROWTH
28.1%CURRENT US$
Rnk 98 / 204
2021
Flag
GDP PC 
$35,770CURRENT US$
Rnk 37 / 204
2011-2021
Flag
GDP PC GROWTH
-7.45%CURRENT US$
Rnk 160 / 204
2021
Flag
GDP PC
$9,230CURRENT US$
Rnk 91 / 204
2011-2021
Flag
GDP PC GROWTH
35.6%CURRENT US$
Rnk 53 / 204

About

Italy-Serbia In 2021, Italy exported $2.46B to Serbia. The main products that Italy exported to Serbia are Tanned Equine and Bovine Hides ($111M), Raw Copper ($85.9M), and Motor vehicles; parts and accessories (8701 to 8705) ($69.1M). During the last 15 years the exports of Italy to Serbia have increased at an annualized rate of 5.56%, from $1.09B in 2006 to $2.46B in 2021.

In 2021, Italy did not export any services to Serbia.

Serbia-Italy In 2021, Serbia exported $2.23B to Italy. The main products that Serbia exported to Italy were Cars ($276M), Hot-Rolled Iron ($108M), and Corn ($101M). During the last 15 years the exports of Serbia to Italy have increased at an annualized rate of 6.02%, from $926M in 2006 to $2.23B in 2021.

In 2019, Serbia exported services to Italy worth $193M, with Transportation ($64.9M), Other business services ($59.3M), and Travel ($28M) being the largest in terms of value.

Comparison In 2021,  Italy ranked 19 in the Economic Complexity Index (ECI 1.27), and 7 in total exports ($597B). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.74), and 70 in total exports ($26.8B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2021, Italy exported $2.46B to Serbia. The main products exported from Italy to Serbia were Tanned Equine and Bovine Hides ($111M), Raw Copper ($85.9M), and Motor vehicles; parts and accessories (8701 to 8705) ($69.1M). During the last 15 years the exports of Italy to Serbia have increased at an annualized rate of 5.56%, from $1.09B in 2006 to $2.46B in 2021.

In 2021, Serbia exported $2.23B to Italy. The main products exported from Serbia to Italy were Cars ($276M), Hot-Rolled Iron ($108M), and Corn ($101M). During the last 15 years the exports of Serbia to Italy have increased at an annualized rate of 6.02%, from $926M in 2006 to $2.23B in 2021.

Exports from Italy (Flag) to Serbia (Flag) (2021)

Exports from Serbia (Flag) to Italy (Flag) (2021)

Market Competitiveness

Color
Italy
Top Destination
Germany$78.4B
Serbia
Top Destination
Germany$3.27B

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

In 2021, countries that imported more from Italy than Serbia were Germany ($78.4B), France ($61.6B), and United States ($58.1B).

In 2021, countries that imported more from Serbia than Italy were Montenegro ($961M), Bosnia and Herzegovina ($1.83B), and North Macedonia ($976M).

Difference in imports from Serbia (Flag) and Italy (Flag) (2021)

Comparative Advantage Italy - Serbia

Flow
Scale

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

During 2021, Italy had a large net trade with Serbia in the exports of Machines ($538M), Metals ($372M), and Textiles ($240M).

During 2021, Serbia had a large net trade with Italy in the exports of Metals ($334M), Transportation ($301M), and Textiles ($264M).

Service Trade

Bilateral Service Trade

In 2019, Serbia exported services to Italy worth $193M, with Transportation ($64.9M), Other business services ($59.3M), and Travel ($28M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Italy has comparative advantage over Serbia. Similarly, the more yellow a dot/product is, the more Serbia has comparative advantage over Italy.

Product Space of Italy (Flag) and Serbia (Flag) (2021)

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