Sign In
Pricing

2021
Economic Complexity
Trade 0.74Rank 36 of 131
2021
Economic Complexity
Technology -0.23Rank 56 of 96
2021
Economic Complexity
Research -0.12Rank 71 of 140
2021
Product
Exports | Imports $26.8B | $36.1B70 of 226 |  64 of 226
2021
Per Capita Product
Exports | Imports $3.93k | $5.28k167 of 220 |  88 of 220

About

Overview In 2021, Serbia was the number 83 economy in the world in terms of GDP (current US$), the number 70 in total exports, the number 64 in total imports, the number 91 economy in terms of GDP per capita (current US$) and the number 36 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Serbia are Insulated Wire ($1.8B), Corn ($915M), Rubber Tires ($859M), Copper Ore ($855M), and Frozen Fruits and Nuts ($682M), exporting mostly to Germany ($3.27B), Italy ($2.23B), Bosnia and Herzegovina ($1.83B), Romania ($1.43B), and Hungary ($1.33B).

Imports The top imports of Serbia are Crude Petroleum ($1.35B), Electricity ($1.18B), Cars ($1.04B), Packaged Medicaments ($993M), and Broadcasting Equipment ($698M), importing mostly from Germany ($4.54B), China ($3.17B), Hungary ($2.52B), Italy ($2.46B), and Turkey ($2.02B).

Location Serbia borders Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Hungary, North Macedonia, Montenegro, and Romania by land.

Latest Trends

Latest Trade

Flow
View
Y-AXIS SCALE

The following section uses the most recent trade data from partners of Serbia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Subscribe today to OEC pro and access the latest data

Sign Up

Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2021)Insulated Wire$1.8B
Top Destination (2021)Germany$3.27B

In 2021, Serbia exported a total of $26.8B, making it the number 70 exporter in the world. During the last five reported years the exports of Serbia have changed by $11B from $15.8B in 2016 to $26.8B in 2021.

The most recent exports are led by Insulated Wire ($1.8B), Corn ($915M), Rubber Tires ($859M), Copper Ore ($855M), and Frozen Fruits and Nuts ($682M). The most common destination for the exports of Serbia are Germany ($3.27B), Italy ($2.23B), Bosnia and Herzegovina ($1.83B), Romania ($1.43B), and Hungary ($1.33B).

Explore Visualizations

Exports (2021)
[Click to Select a Product]

Destinations (2021)
[Click to Select a Country]

Market Growth

Flow
View
Fastest Growing Export Markets (2020 - 2021)
Germany$724M (+ 28.4%)
China$572M (+ 124%)
Italy$522M (+ 30.6%)
Fastest Growing Import Markets (2020 - 2021)
Germany$910M (+ 25.1%)
China$739M (+ 30.5%)
Turkey$626M (+ 44.9%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Serbia Exports Services (2020)$5.22B
Serbia Imports Services (2020)$5.33B

In 2020, Serbia exported $5.22B worth of services. The top services exported by Serbia in 2020 were Miscellaneous business, professional, and technical services ($1.87B), Personal travel ($1.23B), Other transport ($869M), Air transport ($231M), and Construction in the compiling economy ($151M).

The top services imported by Serbia in 2020 were Miscellaneous business, professional, and technical services ($1.42B), Other transport ($1.06B), Personal travel ($942M), Royalties and license fees ($347M), and Construction in the compiling economy ($238M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.74Rank 36 of 131
Economic Complexity (Technology)-0.23Rank 56 of 96
Economic Complexity (Research)-0.12Rank 71 of 140

Most Specialized Products by RCA Index

Serbia has a high level of specialization in Frozen Fruits and Nuts (73.3), Roofing Tiles (37.4), Oil Seed Flower (22), Other Leather Articles (20.2), and Prepared Explosives (16.6). Specialization is measured using RCA, an index that takes the ratio between Serbia observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Serbia according to the product complexity index (PCI) are Machine-tools; for deburring, sharpening, grinding, honing, lapping, polishing or otherwise finishing metal,... (1.49), Railway or tramway coaches, vans and trucks; self-propelled tenders, other than those... (1.46), Moulding boxes for metal foundry, moulding patterns, moulds for metals (excluding ingot... (1.46), Chain and parts thereof, of iron or steel (1.42), and Air or vacuum pumps, air or other gas compressors and fans; ventilating... (1.37). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Serbia according to the relatedness index, were Cement (0.35), Confectionery Sugar (0.35), Other Vegetables (0.34), Fish: dried, salted, smoked or in brine (0.34), and Fuel Wood (0.34). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Serbia is not specialized in.

Product Space

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.

Relatedness Space

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.

Diversification Frontier

Filter
Depth

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.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Serbia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 36th⁩ 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.

Explore Rankings

ECI (Trade) Ranking by Country

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: [email protected]
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms