2022
Flag  
GDP
$4.07TCURRENT US$
Rnk 4 / 186
2012-2022
Flag
GDP GROWTH
15.5%CURRENT US$
Rnk 136 / 186
2022
Flag
 GDP
$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
Flag
GDP GROWTH
46.6%CURRENT US$
Rnk 71 / 186
2022
Flag
GDP PC 
$48,432CURRENT US$
Rnk 21 / 186
2012-2022
Flag
GDP PC GROWTH
10.4%CURRENT US$
Rnk 115 / 186
2022
Flag
GDP PC
$9,394CURRENT US$
Rnk 80 / 186
2012-2022
Flag
GDP PC GROWTH
56.1%CURRENT US$
Rnk 32 / 186

About

Germany-Serbia Trade: In 2022, Germany exported $4.74B to Serbia. The main products that Germany exported to Serbia were Copper Wire ($254M), Packaged Medicaments ($241M), and Cars ($213M). Over the past 5 years the exports of Germany to Serbia have increased at an annualized rate of 10.8%, from $2.84B in 2017 to $4.74B in 2022.

In 2022, Germany did not export any services to Serbia.

Serbia-Germany Trade: In 2022, Serbia exported $4B to Germany. The main products that Serbia exported to Germany were Insulated Wire ($550M), Electric Motors ($398M), and Electric Motor Parts ($286M). Over the past 5 years the exports of Serbia to Germany have increased at an annualized rate of 13.3%,  from $2.14B in 2017 to $4B in 2022.

In 2019, Serbia exported services to Germany worth $708M, with Other business services ($250M), Transportation ($146M), and Computer and information services ($122M) being the largest in terms of value.

Comparison: In 2022,  Germany ranked 5 in the Economic Complexity Index (ECI 1.78), and 3 in total exports ($1.6T). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Germany exported $4.74B to Serbia. The main products exported from Germany to Serbia were Copper Wire ($254M), Packaged Medicaments ($241M), and Cars ($213M). During the last 5 years the exports of Germany to Serbia have increased at an annualized rate of 10.8%, from $2.84B in 2017 to $4.74B in 2022.

In 2017, Serbia exported $4B to Germany. The main products exported from Serbia to Germany were Insulated Wire ($550M), Electric Motors ($398M), and Electric Motor Parts ($286M). During the last 5 years the exports of Serbia to Germany have increased at an annualized rate of 13.3%, from $2.14B in 2022 to $4B in 2017.

Exports from Germany (Flag) to Serbia (Flag) (2022)

Exports from Serbia (Flag) to Germany (Flag) (2022)

Market Competitiveness

Color
Germany
Top Destination
United States$153B
Serbia
Top Destination
Germany$4B

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

In 2022, countries that imported more from Germany than Serbia included United States ($153B), France ($120B), and Netherlands ($109B).

In 2022, countries that imported more from Serbia than Germany included Montenegro ($1.15B) and Bosnia and Herzegovina ($2.14B).

Difference in imports from Serbia (Flag) and Germany (Flag) (2022)

Comparative Advantage Germany - Serbia

Flow
Scale

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

During 2022, Germany had a large net trade with Serbia in the exports of Machines ($1.39B), Chemical Products ($638M), and Metals ($633M).

During 2017, Serbia had a large net trade with Germany in the exports of Machines ($1.84B), Metals ($406M), and Transportation ($404M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Germany Serbia+$107MCars
Top Product Potential Serbia Germany+$82.4MMotor vehicles; parts and accessories (8701 to 8705)

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 Germany worth $708M, with Other business services ($250M), Transportation ($146M), and Computer and information services ($122M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Germany (Flag) and Serbia (Flag) (2022)

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