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2022
Flag → Flag
Exports $1.96BRnk 43 / 221
2022
Flag → Flag
Top Product $142MTanned Equine and Bovine Hides
2022
Flag → Flag
Exports $2.25BRnk 3 / 174
2022
Flag → Flag
Top Product $111MFootwear Parts
2022
Flag
Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.75Rnk 36 / 133
2022
Flag  
GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
Flag
 GDP$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
Flag
GDP GROWTH46.6%CURRENT US$
Rnk 71 / 186
2022
Flag
GDP PC $34,158CURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186
2022
Flag
GDP PC$9,394CURRENT US$
Rnk 80 / 186
2012-2022
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GDP PC GROWTH56.1%CURRENT US$
Rnk 32 / 186

About

Italy-Serbia Trade: In 2022, Italy exported $1.96B to Serbia. The main products that Italy exported to Serbia were Tanned Equine and Bovine Hides ($142M), Packaged Medicaments ($65M), and Plastic Pipes ($45.4M). Over the past 5 years the exports of Italy to Serbia have increased at an annualized rate of 12.4%, from $1.09B in 2017 to $1.96B in 2022.

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

Serbia-Italy Trade: In 2022, Serbia exported $2.25B to Italy. The main products that Serbia exported to Italy were Footwear Parts ($111M), Wheat ($97.4M), and Rubber Tires ($94M). Over the past 5 years the exports of Serbia to Italy have increased at an annualized rate of 19.4%,  from $926M in 2017 to $2.25B in 2022.

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 2022,  Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Latest Trends

March, 2024

About

Overview In March 2024, Italy exported €188M and imported €97.8M from Serbia, resulting in a positive trade balance of €90.7M. Between March 2023 and March 2024 the exports of Italy have increased by €30.8M (19.5%) from €158M to €188M, while imports decreased by €-19.7M (-16.8%) from €117M to €97.8M.

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)€30.8M(19.5%)
IMPORT GROWTH (March 2023 - March 2024)€-19.7M(-16.8%)

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

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

For full datasets download visit Bulk Download page.

Explore Serbia and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Italy exported $1.96B to Serbia. The main products exported from Italy to Serbia were Tanned Equine and Bovine Hides ($142M), Packaged Medicaments ($65M), and Plastic Pipes ($45.4M). During the last 5 years the exports of Italy to Serbia have increased at an annualized rate of 12.4%, from $1.09B in 2017 to $1.96B in 2022.

In 2017, Serbia exported $2.25B to Italy. The main products exported from Serbia to Italy were Footwear Parts ($111M), Wheat ($97.4M), and Rubber Tires ($94M). During the last 11 years the exports of Serbia to Italy have increased at an annualized rate of 19.4%, from $926M in 2006 to $2.25B in 2017.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$78.5B
Serbia
Top DestinationGermany$4B

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 2022, countries that imported more from Italy than Serbia included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

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

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

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 2022, Italy had a large net trade with Serbia in the exports of Machines ($528M), Metals ($281M), and Textiles ($274M).

During 2017, Serbia had a large net trade with Italy in the exports of Textiles ($291M), Metals ($279M), and Machines ($263M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Serbia+$46.3MPackaged Medicaments
Top Product Potential Serbia Italy+$37.8MInsulated Wire

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 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)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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