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2023
Flag → Flag
Exports $2.01BRnk 34 / 216
2023
Flag → Flag
Top Product $91.3MInsulated Wire
2023
Flag → Flag
Exports $674MRnk 19 / 184
2023
Flag → Flag
Top Product $87.2MRolled Tobacco
2023
Flag
Economic Complexity (ECI) ECI 0.62Rnk 41 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.76Rnk 35 / 132
2023
Flag  
GDP$1.12TCURRENT US$
Rnk 18 / 195
2013-2023
Flag
GDP GROWTH16.8%CURRENT US$
Rnk 149 / 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 $13,106CURRENT US$
Rnk 77 / 195
2013-2023
Flag
GDP PC GROWTH4.19%CURRENT US$
Rnk 147 / 195
2023
Flag
GDP PC$12,282CURRENT US$
Rnk 82 / 196
2013-2023
Flag
GDP PC GROWTH74.4%CURRENT US$
Rnk 20 / 195

About

Turkey-Serbia Trade: In 2023, Turkey exported $2.01B to Serbia. The main products that Turkey exported to Serbia were Insulated Wire ($91.3M), Light Rubberized Knitted Fabric ($62.6M), and Citrus ($37.8M). Over the past 5 years the exports of Turkey to Serbia have increased at an annualized rate of 11.9%, from $1.14B in 2018 to $2.01B in 2023.

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

Serbia-Turkey Trade: In 2023, Serbia exported $674M to Turkey. The main products that Serbia exported to Turkey were Rolled Tobacco ($87.2M), Rubber Tires ($59.7M), and Refined Copper ($43.8M). Over the past 5 years the exports of Serbia to Turkey have increased at an annualized rate of 12.2%,  from $379M in 2018 to $674M in 2023.

In 2019, Serbia exported services to Turkey worth $76.1M, with Transportation ($33.6M), Travel ($26.9M), and Other business services ($11.2M) being the largest in terms of value.

Comparison: In 2023,  Turkey ranked 41 in the Economic Complexity Index (ECI 0.62), and 28 in total exports ($272B). That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Turkey exported $2.01B to Serbia. The main products exported from Turkey to Serbia were Insulated Wire ($91.3M), Light Rubberized Knitted Fabric ($62.6M), and Citrus ($37.8M). During the last 5 years the exports of Turkey to Serbia have increased at an annualized rate of 11.9%, from $1.14B in 2018 to $2.01B in 2023.

In 2018, Serbia exported $674M to Turkey. The main products exported from Serbia to Turkey were Rolled Tobacco ($87.2M), Rubber Tires ($59.7M), and Refined Copper ($43.8M). During the last 5 years the exports of Serbia to Turkey have increased at an annualized rate of 12.2%, from $379M in 2023 to $674M in 2018.

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

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

Latest Data

Trade between Turkey (Flag) and Serbia (Flag)

Turkey Exports

Serbia Exports

Market Competitiveness

Color
Turkey
Top DestinationGermany$24.7B
Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Turkey than Serbia included Germany ($24.7B), United States ($15.9B), and United Arab Emirates ($14.7B).

In 2023, countries that imported more from Serbia than Turkey included Bosnia and Herzegovina ($1.77B), Montenegro ($995M), and Hungary ($2.26B).

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

Comparative Advantage Turkey - Serbia

Flow
Scale

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

During 2023, Turkey had a large net trade with Serbia in the exports of Metals ($400M), Machines ($385M), and Textiles ($357M).

During 2018, Serbia had a large net trade with Turkey in the exports of Machines ($159M), Plastics and Rubbers ($119M), and Foodstuffs ($107M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Turkey Serbia+$22.7MCars
Top Product Potential Serbia Turkey+$23.1MMotor vehicles; parts and accessories (8701 to 8705)

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 Turkey worth $76.1M, with Transportation ($33.6M), Travel ($26.9M), and Other business services ($11.2M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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