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2023
Flag → Flag
Exports $1.01BRnk 16 / 200
2023
Flag → Flag
Top Product $83.8MLignite
2023
Flag → Flag
Exports $1.22BRnk 8 / 184
2023
Flag → Flag
Top Product $218MElectricity
2023
Flag
Economic Complexity (ECI) ECI 0.69Rnk 38 / 132
2023
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Economic Complexity (ECI) ECI 0.76Rnk 35 / 132
2023
Flag  
GDP$102BCURRENT US$
Rnk 69 / 195
2013-2023
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GDP GROWTH83.4%CURRENT US$
Rnk 30 / 195
2023
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 GDP$81.3BCURRENT US$
Rnk 77 / 195
2013-2023
Flag
GDP GROWTH61.2%CURRENT US$
Rnk 53 / 195
2023
Flag
GDP PC $15,886CURRENT US$
Rnk 72 / 195
2013-2023
Flag
GDP PC GROWTH107%CURRENT US$
Rnk 6 / 195
2023
Flag
GDP PC$12,282CURRENT US$
Rnk 82 / 196
2013-2023
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GDP PC GROWTH74.4%CURRENT US$
Rnk 20 / 195

About

Bulgaria-Serbia Trade: In 2023, Bulgaria exported $1.01B to Serbia. The main products that Bulgaria exported to Serbia were Lignite ($83.8M), Refined Petroleum ($79.9M), and Electricity ($79.4M). Over the past 5 years the exports of Bulgaria to Serbia have increased at an annualized rate of 11.3%, from $590M in 2018 to $1.01B in 2023.

In 2023, Bulgaria did not export any services to Serbia.

Serbia-Bulgaria Trade: In 2023, Serbia exported $1.22B to Bulgaria. The main products that Serbia exported to Bulgaria were Electricity ($218M), Copper Ore ($112M), and Refined Copper ($80.8M). Over the past 5 years the exports of Serbia to Bulgaria have increased at an annualized rate of 6.03%,  from $766M in 2018 to $1.22B in 2023.

In 2019, Serbia exported services to Bulgaria worth $111M, with Travel ($31.3M), Other business services ($31.3M), and Transportation ($26.9M) being the largest in terms of value.

Comparison: In 2023,  Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B). That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Bulgaria exported $1.01B to Serbia. The main products exported from Bulgaria to Serbia were Lignite ($83.8M), Refined Petroleum ($79.9M), and Electricity ($79.4M). During the last 5 years the exports of Bulgaria to Serbia have increased at an annualized rate of 11.3%, from $590M in 2018 to $1.01B in 2023.

In 2018, Serbia exported $1.22B to Bulgaria. The main products exported from Serbia to Bulgaria were Electricity ($218M), Copper Ore ($112M), and Refined Copper ($80.8M). During the last 5 years the exports of Serbia to Bulgaria have increased at an annualized rate of 6.03%, from $766M in 2023 to $1.22B in 2018.

Exports from Bulgaria (Flag) to Serbia (Flag) (2023)

Exports from Serbia (Flag) to Bulgaria (Flag) (2023)

Latest Data

Trade between Bulgaria (Flag) and Serbia (Flag)

Bulgaria Exports

Serbia Exports

Market Competitiveness

Color
Bulgaria
Top DestinationGermany$6.84B
Serbia
Top DestinationGermany$4.76B

This map shows whether countries import more from Bulgaria or Serbia. Each country is colored based on the difference in imports they receive from Bulgaria and Serbia or the difference in the growth in imports.

In 2023, countries that imported more from Bulgaria than Serbia included Romania ($5.63B), Greece ($3.04B), and Italy ($4.06B).

In 2023, countries that imported more from Serbia than Bulgaria included Bosnia and Herzegovina ($1.77B), Hungary ($2.26B), and Montenegro ($995M).

Difference in imports from Serbia (Flag) and Bulgaria (Flag) (2023)

Comparative Advantage Bulgaria - Serbia

Flow
Scale

This chart compares trade between Bulgaria and Serbia by product, considering products traded by both, Bulgaria and Serbia.

During 2023, Bulgaria had a large net trade with Serbia in the exports of Mineral Products ($343M), Metals ($155M), and Plastics and Rubbers ($90.9M).

During 2018, Serbia had a large net trade with Bulgaria in the exports of Mineral Products ($392M), Metals ($279M), and Foodstuffs ($114M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Bulgaria Serbia+$21.5MPetroleum Gas
Top Product Potential Serbia Bulgaria+$15.4MCopper Ore

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2019, Serbia exported services to Bulgaria worth $111M, with Travel ($31.3M), Other business services ($31.3M), and Transportation ($26.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Serbia (Flag) to Bulgaria (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Bulgaria and Serbia. This means that a dot/product with the flag of Bulgaria indicates it has a comparative advantage over Serbia. Similarly, a dot/product with the flag of Serbia indicates it has a comparative advantage over Bulgaria.

Product Space of Bulgaria (Flag) and Serbia (Flag) (2023)

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