2022
Flag  
GDP
$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
Flag
GDP GROWTH
46.6%CURRENT US$
Rnk 71 / 186
2022
Flag
 GDP
$252BCURRENT US$
Rnk 49 / 186
2012-2022
Flag
GDP GROWTH
16.5%CURRENT US$
Rnk 132 / 186
2022
Flag
GDP PC 
$9,394CURRENT US$
Rnk 80 / 186
2012-2022
Flag
GDP PC GROWTH
56.1%CURRENT US$
Rnk 32 / 186
2022
Flag
GDP PC
$24,275CURRENT US$
Rnk 46 / 186
2012-2022
Flag
GDP PC GROWTH
18%CURRENT US$
Rnk 94 / 186

About

Serbia-Portugal Trade: In 2022, Serbia exported $46M to Portugal. The main products that Serbia exported to Portugal were Rubber Tires ($10M), Cleaning Products ($5.85M), and Low-voltage Protection Equipment ($3.37M). Over the past 5 years the exports of Serbia to Portugal have increased at an annualized rate of 16.8%, from $21.2M in 2017 to $46M in 2022.

In 2019, Serbia exported services to Portugal worth $7.84M, with Travel ($3.36M), Other business services ($2.24M), and Transportation ($1.12M) being the largest in terms of value.

Portugal-Serbia Trade: In 2022, Portugal exported $67.3M to Serbia. The main products that Portugal exported to Serbia were Insulated Wire ($9.47M), Processed Tomatoes ($6.03M), and Plastic Coated Textile Fabric ($5.4M). Over the past 5 years the exports of Portugal to Serbia have increased at an annualized rate of 9.47%,  from $42.8M in 2017 to $67.3M in 2022.

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

Comparison: In 2022,  Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B). That same year, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Serbia exported $46M to Portugal. The main products exported from Serbia to Portugal were Rubber Tires ($10M), Cleaning Products ($5.85M), and Low-voltage Protection Equipment ($3.37M). During the last 5 years the exports of Serbia to Portugal have increased at an annualized rate of 16.8%, from $21.2M in 2017 to $46M in 2022.

In 2017, Portugal exported $67.3M to Serbia. The main products exported from Portugal to Serbia were Insulated Wire ($9.47M), Processed Tomatoes ($6.03M), and Plastic Coated Textile Fabric ($5.4M). During the last 5 years the exports of Portugal to Serbia have increased at an annualized rate of 9.47%, from $42.8M in 2022 to $67.3M in 2017.

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

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

Latest Data

Trade between Serbia (Flag) and Portugal (Flag)

Serbia Exports

Portugal Exports

Market Competitiveness

Color
Serbia
Top Destination
Germany$4B
Portugal
Top Destination
Spain$20.5B

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

In 2022, countries that imported more from Serbia than Portugal included Bosnia and Herzegovina ($2.14B), Hungary ($1.69B), and Croatia ($1.25B).

In 2022, countries that imported more from Portugal than Serbia included Spain ($20.5B), France ($9.49B), and United States ($5.66B).

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

Comparative Advantage Serbia - Portugal

Flow
Scale

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

During 2022, Serbia had a large net trade with Portugal in the exports of Plastics and Rubbers ($16.8M), Chemical Products ($8.46M), and Machines ($6.77M).

During 2017, Portugal had a large net trade with Serbia in the exports of Machines ($22.1M), Textiles ($10.2M), and Foodstuffs ($8.54M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Serbia Portugal+$3.89MRubber Tires
Top Product Potential Portugal Serbia+$2.97MInsulated 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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Economic Complexity

Competitive Landscape

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

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

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