Russia (RUS) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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Russia (RUS) and Serbia (SRB) Trade

2022

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Exports $3.05BRnk 28 / 138

2022

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About

Russia-Serbia In 2022, Russia exported $3.05B to Serbia. The main products that Russia exported to Serbia are Crude Petroleum ($1.05B), Petroleum Gas ($1.01B), and Nitrogenous Fertilizers ($207M). During the last 16 years the exports of Russia to Serbia have increased at an annualized rate of 2.48%, from $2.06B in 2006 to $3.05B in 2022.

In 2020, Russia exported services to Serbia worth $240M, with Construction services ($104M), Other business services ($82.9M), and Transportation ($20.3M) being the largest in terms of value.

Serbia-Russia In 2022, Serbia exported $1.19B to Russia. The main products that Serbia exported to Russia were Apples and Pears ($75.5M), Refrigerators ($74.5M), and Knit Socks and Hosiery ($69.3M). During the last 16 years the exports of Serbia to Russia have increased at an annualized rate of 7.68%, from $366M in 2006 to $1.19B in 2022.

In 2019, Serbia exported services to Russia worth $237M, with Construction services ($86.2M), Transportation ($54.9M), and Other business services ($53.7M) being the largest in terms of value.

Comparison In 2022, Russia ranked 45 in the Economic Complexity Index (ECI 0.42), and 12 in total exports ($486B). That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $131M and imported $69.6M from Serbia, resulting in a positive trade balance of $61.9M. Between January 2021 and January 2022 the exports of Russia have increased by $61.5M (87.9%) from $69.9M to $131M, while imports increased by $7.96M (12.9%) from $61.6M to $69.6M.

Trade In January 2022, the top exports of Russia to Serbia were Commodities not elsewhere specified ($38.9M), Iron Ore ($4.15M), Processed Tobacco ($2.76M), Nitrogenous Fertilizers ($2.42M), and Synthetic Rubber ($1.82M). In January 2022 the top imports of Russia from Serbia were Apples and Pears ($12.1M), Rubber Tires ($8.28M), Soybeans ($3.58M), Knit Socks and Hosiery ($2.85M), and Cheese ($1.9M).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($97.6M), KURSK REGION ($4.46M), LENINGRAD REGION ($3.91M), KRASNOYARSK TERRITORY ($3.24M), and MOSCOW REGION ($2.64M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($28.6M), MOSCOW REGION ($12.9M), KALININGRAD REGION ($4.51M), ST. PETERSBURG ($4.21M), and KRASNODAR TERRITORY ($3.28M).

Growth In January 2022, the increase in Russia's year-by-year exports to Serbia was explained primarily by an increase in product exports in Iron Ore ($2.4M or 137%), Other Measuring Instruments ($1.32M or 106k%), and Raw Lead ($562k or 448%). In January 2022, the increase in Russia's year-by-year imports from Serbia was explained primarily by an increase in product imports in Lifting Machinery ($1.46M or 17.8k%), Cleaning Products ($916k or 124%), and Rubber Tires ($871k or 11.8%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Depth

HS2

HS4

HS6

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (January 2021 - January 2022)$61.5M(87.9%)

IMPORT GROWTH (January 2021 - January 2022)$7.96M(12.9%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$97.6M

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

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

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Russia exported $3.05B to Serbia. The main products exported from Russia to Serbia were Crude Petroleum ($1.05B), Petroleum Gas ($1.01B), and Nitrogenous Fertilizers ($207M). During the last 16 years the exports of Russia to Serbia have increased at an annualized rate of 2.48%, from $2.06B in 2006 to $3.05B in 2022.

In 2022, Serbia exported $1.19B to Russia. The main products exported from Serbia to Russia were Apples and Pears ($75.5M), Refrigerators ($74.5M), and Knit Socks and Hosiery ($69.3M). During the last 16 years the exports of Serbia to Russia have increased at an annualized rate of 7.68%, from $366M in 2006 to $1.19B in 2022.

Exports from Russia () to Serbia () (2022)

Exports from Serbia () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Serbia
Top DestinationGermany$4B

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

In 2021, countries that imported more from Russia than Serbia were China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2021, countries that imported more from Serbia than Russia were Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and Croatia ($1.25B).

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

Comparative Advantage Russia - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Serbia in the exports of Mineral Products ($2.22B), Chemical Products ($408M), and Foodstuffs ($89.8M).

During 2022, Serbia had a large net trade with Russia in the exports of Machines ($275M), Vegetable Products ($206M), and Textiles ($153M).

Service Trade

Bilateral Service Trade

Srb Year

Rus Year

In 2020, Russia exported services to Serbia worth $240M, with Construction services ($104M), Other business services ($82.9M), and Transportation ($20.3M) being the largest in terms of value.

In 2019, Serbia exported services to Russia worth $237M, with Construction services ($86.2M), Transportation ($54.9M), and Other business services ($53.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Serbia () (2020)

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

Economic Complexity

Competitive Landscape

Year

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 Russia has comparative advantage over Serbia. Similarly, the more yellow a dot/product is, the more Serbia has comparative advantage over Russia.

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

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