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2022
Flag → Flag
Exports $1.03BRnk 27 / 219
2022
Flag → Flag
Top Product $68MLight Rubberized Knitted Fabric
2022
Flag → Flag
Exports $444MRnk 21 / 174
2022
Flag → Flag
Top Product $59.6MRubber Tires
2022
Flag
Economic Complexity (ECI) ECI 0.6Rnk 41 / 133
2022
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Economic Complexity (ECI) ECI 0.75Rnk 36 / 133
2022
Flag  
GDP$906BCURRENT US$
Rnk 19 / 186
2012-2022
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GDP GROWTH2.89%CURRENT US$
Rnk 160 / 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 $10,616CURRENT US$
Rnk 75 / 186
2012-2022
Flag
GDP PC GROWTH-9.24%CURRENT US$
Rnk 162 / 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

Turkey-Serbia Trade: In 2022, Turkey exported $1.03B to Serbia. The main products that Turkey exported to Serbia were Light Rubberized Knitted Fabric ($68M), Coated Flat-Rolled Iron ($64.8M), and Cars ($59M). Over the past 5 years the exports of Turkey to Serbia have increased at an annualized rate of 44.4%, from $164M in 2017 to $1.03B in 2022.

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

Serbia-Turkey Trade: In 2022, Serbia exported $444M to Turkey. The main products that Serbia exported to Turkey were Rubber Tires ($59.6M), Motor vehicles; parts and accessories (8701 to 8705) ($39.4M), and Rolled Tobacco ($21.5M). Over the past 5 years the exports of Serbia to Turkey have increased at an annualized rate of 62.4%,  from $39.4M in 2017 to $444M in 2022.

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 2022,  Turkey ranked 41 in the Economic Complexity Index (ECI 0.6), and 29 in total exports ($262B). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Turkey exported $1.03B to Serbia. The main products exported from Turkey to Serbia were Light Rubberized Knitted Fabric ($68M), Coated Flat-Rolled Iron ($64.8M), and Cars ($59M). During the last 5 years the exports of Turkey to Serbia have increased at an annualized rate of 44.4%, from $164M in 2017 to $1.03B in 2022.

In 2017, Serbia exported $444M to Turkey. The main products exported from Serbia to Turkey were Rubber Tires ($59.6M), Motor vehicles; parts and accessories (8701 to 8705) ($39.4M), and Rolled Tobacco ($21.5M). During the last 11 years the exports of Serbia to Turkey have increased at an annualized rate of 62.4%, from $39.4M in 2006 to $444M in 2017.

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

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

Latest Data

Trade between Turkey (Flag) and Serbia (Flag)

Turkey Exports

Serbia Exports

Market Competitiveness

Color
Turkey
Top DestinationGermany$21.9B
Serbia
Top DestinationGermany$4B

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 2022, countries that imported more from Turkey than Serbia included Germany ($21.9B), United States ($17.1B), and Iraq ($13.7B).

In 2022, countries that imported more from Serbia than Turkey included Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and Croatia ($1.25B).

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

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 2022, Turkey had a large net trade with Serbia in the exports of Metals ($569M), Textiles ($405M), and Machines ($366M).

During 2017, Serbia had a large net trade with Turkey in the exports of Plastics and Rubbers ($99.9M), Machines ($85.4M), and Transportation ($45.9M).

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) (2022)

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