2023
Exports
$2.32BWorld Rnk 19 / 223
Flag Rnk 1 / 1165
2023
PRODUCT COMPLEXITY IN Insulated Wire
-0.48Rnk 691 / 1025
2023
Imports
$618MWorld Rnk 44 / 225
Flag Rnk 7 / 1188
2023
ECONOMIC COMPLEXITY of Serbia
0.76Rnk 35 / 132

About

Exports In 2023, Serbia exported $2.32B in Insulated Wire, making it the 19th largest exporter of Insulated Wire in the world. At the same year, Insulated Wire was the 1st most exported product in Serbia. The main destination of Insulated Wire exports from Serbia are: Germany ($653M), Hungary ($443M), Slovakia ($288M), Czechia ($236M), and Sweden ($168M).

The fastest growing export markets for Insulated Wire of Serbia between 2022 and 2023 were Hungary ($106M), Germany ($100M), and Czechia ($61.1M).

Imports In 2023, Serbia imported $618M in Insulated Wire, becoming the 44th largest importer of Insulated Wire in the world. At the same year, Insulated Wire was the 7th most imported product in Serbia. Serbia imports Insulated Wire primarily from: Turkey ($91.3M), Hungary ($86.6M), Germany ($78.4M), Czechia ($74.5M), and Romania ($51.3M).

The fastest growing import markets in Insulated Wire for Serbia between 2022 and 2023 were Czechia ($14.5M), Romania ($11.4M), and Hungary ($8.84M).

Latest Trends

Jan 2025

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 Insulated Wire. 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)$2.32B
IMPORTS (2023)$618M
NET TRADE (2023)$1.7B

In 2023, Serbia exported $2.32B in Insulated Wire. The main destinations of Serbia exports on Insulated Wire were Germany ($653M), Hungary ($443M), Slovakia ($288M), Czechia ($236M), and Sweden ($168M).

In 2023, Serbia imported $618M in Insulated Wire, mainly from Turkey ($91.3M), Hungary ($86.6M), Germany ($78.4M), Czechia ($74.5M), and Romania ($51.3M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Insulated Wire EXPORT MARKETS FOR Serbia WERE (2022 - 2023):
Hungary$106M (31.5%)
Germany$100M (18.1%)
Czechia$61.1M (34.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Insulated Wire BY Serbia WERE (2022 - 2023):
Italy-$14.4M (-19.3%)
Slovakia-$11.4M (-3.82%)
Slovenia-$6.69M (-25.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Serbia's main exporting competitors in Insulated Wire were:
In 2023, Serbia's main importing competitors in Insulated Wire were:

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Trade Value of Insulated Wire by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALRomania+ $43.5M
TOP IMPORT POTENTIALChina+ $30.3M

Insulated Wire’s highest export potential is Romania. With an export gap of $43.5M.   Insulated Wire’s highest import potential is China with an import gap of $30.3M.

See methodology.

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