2023
Exports
$990MWorld Rnk 15 / 211
Flag Rnk 4 / 1165
2023
PRODUCT COMPLEXITY IN Electric Motors
0.8Rnk 253 / 1025
2023
Imports
$69.8MWorld Rnk 66 / 226
Flag Rnk 139 / 1188
2023
ECONOMIC COMPLEXITY of Serbia
0.76Rnk 35 / 132

About

Exports In 2023, Serbia exported $990M in Electric Motors, making it the 15th largest exporter of Electric Motors in the world. At the same year, Electric Motors was the 4th most exported product in Serbia. The main destination of Electric Motors exports from Serbia are: Germany ($486M), Sweden ($87.9M), Hungary ($71.8M), Czechia ($56.4M), and France ($50.4M).

The fastest growing export markets for Electric Motors of Serbia between 2022 and 2023 were Germany ($100M), France ($24.4M), and Hungary ($13.3M).

Imports In 2023, Serbia imported $69.8M in Electric Motors, becoming the 66th largest importer of Electric Motors in the world. At the same year, Electric Motors was the 139th most imported product in Serbia. Serbia imports Electric Motors primarily from: China ($16.7M), Germany ($12.2M), Italy ($7.51M), Hungary ($3.81M), and Belgium ($3.29M).

The fastest growing import markets in Electric Motors for Serbia between 2022 and 2023 were Belgium ($2.9M), Netherlands ($970k), and Czechia ($592k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Electric Motors. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$990M
IMPORTS (2023)$69.8M
NET TRADE (2023)$920M

In 2023, Serbia exported $990M in Electric Motors. The main destinations of Serbia exports on Electric Motors were Germany ($486M), Sweden ($87.9M), Hungary ($71.8M), Czechia ($56.4M), and France ($50.4M).

In 2023, Serbia imported $69.8M in Electric Motors, mainly from China ($16.7M), Germany ($12.2M), Italy ($7.51M), Hungary ($3.81M), and Belgium ($3.29M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electric Motors EXPORT MARKETS FOR Serbia WERE (2022 - 2023):
Germany$100M (26%)
France$24.4M (94.1%)
Hungary$13.3M (22.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Motors BY Serbia WERE (2022 - 2023):
Brazil-$12M (-89.5%)
United States-$7.41M (-18.2%)
Poland-$2.56M (-55.9%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Serbia's main exporting competitors in Electric Motors were:
In 2023, Serbia's main importing competitors in Electric Motors were:

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Trade Value of Electric Motors by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $41.1M
TOP IMPORT POTENTIALChina+ $9.39M

Electric Motors’s highest export potential is United States. With an export gap of $41.1M.   Electric Motors’s highest import potential is China with an import gap of $9.39M.

See methodology.

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