Overview In 2019 Serbia was the number 87 economy in the world in terms of GDP (current US$), the number 73 in total exports, the number 71 in total imports,
the number 89 economy in terms of GDP per capita (current US$) and the number 39 most complex economy according to the Economic Complexity Index (ECI).
In 2019, Serbia exported a total of $20.5B, making it the number 73 exporter in the world. During the last five reported years the exports of Serbia have changed by $4.78B from $15.7B in 2014 to $20.5B in 2019.
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).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Serbia are:136: Most Favoured Nation duty rate treatement160: Preferential tariff for Albania170: Preferential tariff for Belarus172: Preferential tariff for Bosnia and Herzegovina220: Preferential tariff for European Union countries (SAA) Stabilisation and Association Agreement238: Preferential tariff for Iceland248: Preferential tariff for Kazakhstan258: Preferential tariff for Liechtenstein263: Preferential tariff for Macedonia, Former Yugoslav Republic of272: Preferential tariff for Montenegro281: Preferential tariff for Norway292: Preferential tariff for Russian federation306: Preferential tariff for Switzerland318: Preferential tariff for the republic of Moldova322: Preferential tariff for Turkey
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 it is currently specialized 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 and the strategic value of a country's potential export oppotunities.
Relatedness is a 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 emissions.
During the last 13 years Serbia's economy has become relatively less complex, moving from the 36th to the 39th 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.