Overview In 2020 Serbia was the number 86 economy in the world in terms of GDP (current US$), the number 68 in total exports, the number 65 in total imports,
the number 81 economy in terms of GDP per capita (current US$) and the number 37 most complex economy according to the Economic Complexity Index (ECI).
In 2020, Serbia exported a total of $20.6B, making it the number 68 exporter in the world. During the last five reported years the exports of Serbia have changed by $6.26B from $14.3B in 2015 to $20.6B in 2020.
In 2019, Serbia exported $51M worth of services. The top services exported by Serbia in 2019 were Miscellaneous business, professional, and technical services ($15.9M), Personal travel ($13.5M), Other transport ($8.9M), Air transport ($3.98M), and Other personal, cultural, and recreational services ($1.54M).
The top services imported by Serbia in 2019 were Personal travel ($13.2M), Miscellaneous business, professional, and technical services ($11.6M), Other transport ($10M), Air transport ($2.92M), and Royalties and license fees ($2.58M).
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
This network shows the products most related to the production structure of Serbia. These are products that tend to be co-exported with the products that Serbia exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities.
Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 14 years Serbia's economy has become relatively less complex, moving from the 34th to the 37th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.