NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $463MRnk 29 / 205
2023
Flag → Flag
Top Product $357MCrude Petroleum
2023
Flag → Flag
Exports $48.9MRnk 48 / 184
2023
Flag → Flag
Top Product $4.98MFrozen Fruits and Nuts
2023
Flag
Economic Complexity (ECI) ECI 0.47Rnk 44 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.76Rnk 35 / 132
2023
Flag  
GDP$485BCURRENT US$
Rnk 31 / 195
2013-2023
Flag
GDP GROWTH-7.74%CURRENT US$
Rnk 180 / 195
2023
Flag
 GDP$81.3BCURRENT US$
Rnk 77 / 195
2013-2023
Flag
GDP GROWTH61.2%CURRENT US$
Rnk 53 / 195
2023
Flag
GDP PC $87,925CURRENT US$
Rnk 7 / 195
2013-2023
Flag
GDP PC GROWTH-15.1%CURRENT US$
Rnk 171 / 195
2023
Flag
GDP PC$12,282CURRENT US$
Rnk 82 / 196
2013-2023
Flag
GDP PC GROWTH74.4%CURRENT US$
Rnk 20 / 195

About

Norway-Serbia Trade: In 2023, Norway exported $463M to Serbia. The main products that Norway exported to Serbia were Crude Petroleum ($357M), Cleaning Products ($28.6M), and Cars ($22.3M). Over the past 5 years the exports of Norway to Serbia have increased at an annualized rate of 56.2%, from $49.8M in 2018 to $463M in 2023.

In 2023, Norway did not export any services to Serbia.

Serbia-Norway Trade: In 2023, Serbia exported $48.9M to Norway. The main products that Serbia exported to Norway were Frozen Fruits and Nuts ($4.98M), Refrigerators ($3.91M), and Honey ($2.38M). Over the past 5 years the exports of Serbia to Norway have increased at an annualized rate of 6.06%,  from $36.4M in 2018 to $48.9M in 2023.

In 2019, Serbia exported services to Norway worth $31.3M, with Other business services ($12.3M), Travel ($5.6M), and Communications services ($5.6M) being the largest in terms of value.

Comparison: In 2023,  Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B).

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK75.2M and imported NOK52.9M from Serbia, resulting in a positive trade balance of NOK22.3M. Between December 2023 and December 2024 the exports of Norway have decreased by NOK-18.2M (-19.5%) from NOK93.4M to NOK75.2M, while imports increased by NOK4.4M (9.07%) from NOK48.5M to NOK52.9M.

Trade In December 2024, the top exports of Norway to Serbia were Essential oils and resinoids and perfume... (NOK13.5M), Fish (not marine mammals), crustaceans, molluscs... (NOK12.4M), Road vehicles (including air-cushion vehicles) (NOK3.83M), Plastics in primary forms (NOK2.72M), and Telecommunications and sound-recording and reproducing apparatus... (NOK2.54M). In December 2024 the top imports of Norway from Serbia were Articles of apparel and clothing accessories (NOK9.11M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK7.54M), Vegetables and fruit (NOK3.5M), Prefabricated buildings; sanitary, plumbing, heating and... (NOK2.85M), and Road vehicles (including air-cushion vehicles) (NOK1.56M).

Growth In December 2024, the decrease in Norway's year-by-year exports to Serbia was explained primarily by an decrease in product exports in Road vehicles (including air-cushion vehicles) (NOK-19.9M or -83.9%), Plastics in primary forms (NOK-2.44M or -47.3%), and Chemical materials and products, n.e.s. (NOK-2.13M or -100%). In December 2024, the increase in Norway's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Articles of apparel and clothing accessories (NOK5.45M or 148%), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK1.66M or 28.2%), and Miscellaneous edible products and preparations (NOK1.1M or 256%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (December 2023 - December 2024)NOK-18.2M(-19.5%)
IMPORT GROWTH (December 2023 - December 2024)NOK4.4M(9.07%)

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

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

For full datasets download visit Bulk Download page.

Explore Serbia and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Norway exported $463M to Serbia. The main products exported from Norway to Serbia were Crude Petroleum ($357M), Cleaning Products ($28.6M), and Cars ($22.3M). During the last 5 years the exports of Norway to Serbia have increased at an annualized rate of 56.2%, from $49.8M in 2018 to $463M in 2023.

In 2018, Serbia exported $48.9M to Norway. The main products exported from Serbia to Norway were Frozen Fruits and Nuts ($4.98M), Refrigerators ($3.91M), and Honey ($2.38M). During the last 5 years the exports of Serbia to Norway have increased at an annualized rate of 6.06%, from $36.4M in 2023 to $48.9M in 2018.

Exports from Norway (Flag) to Serbia (Flag) (2023)

Exports from Serbia (Flag) to Norway (Flag) (2023)

Market Competitiveness

Color
Norway
Top DestinationGermany$33.8B
Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Norway than Serbia included United Kingdom ($32.6B), Germany ($33.8B), and Sweden ($15.9B).

In 2023, countries that imported more from Serbia than Norway included Hungary ($2.26B), Bosnia and Herzegovina ($1.77B), and Romania ($1.59B).

Difference in imports from Serbia (Flag) and Norway (Flag) (2023)

Comparative Advantage Norway - Serbia

Flow
Scale

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

During 2023, Norway had a large net trade with Serbia in the exports of Mineral Products ($357M), Chemical Products ($29.5M), and Transportation ($24.6M).

During 2018, Serbia had a large net trade with Norway in the exports of Machines ($13.7M), Vegetable Products ($5.46M), and Textiles ($5.33M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Serbia+$2.09MRaw Aluminium
Top Product Potential Serbia Norway+$3.97MRefined Petroleum

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Bilateral Service Trade

In 2019, Serbia exported services to Norway worth $31.3M, with Other business services ($12.3M), Travel ($5.6M), and Communications services ($5.6M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Norway (Flag) and Serbia (Flag) (2023)

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms