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2022
Flag → Flag
Exports $4.74BRnk 46 / 223
2022
Flag → Flag
Top Product $254MCopper Wire
2022
Flag → Flag
Exports $4BRnk 1 / 174
2022
Flag → Flag
Top Product $550MInsulated Wire
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 5 / 133
2022
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Economic Complexity (ECI) ECI 0.75Rnk 36 / 133
2022
Flag  
GDP$4.07TCURRENT US$
Rnk 4 / 186
2012-2022
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GDP GROWTH15.5%CURRENT US$
Rnk 136 / 186
2022
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 GDP$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
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GDP GROWTH46.6%CURRENT US$
Rnk 71 / 186
2022
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GDP PC $48,432CURRENT US$
Rnk 21 / 186
2012-2022
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GDP PC GROWTH10.4%CURRENT US$
Rnk 115 / 186
2022
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GDP PC$9,394CURRENT US$
Rnk 80 / 186
2012-2022
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GDP PC GROWTH56.1%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).

Latest Trends

August, 2024

About

Overview In August 2024, Germany exported €360M and imported €365M from Serbia, resulting in a negative trade balance of €5.34M. Between August 2023 and August 2024 the exports of Germany have increased by €223k (0.062%) from €360M to €360M, while imports increased by €29.4M (8.77%) from €336M to €365M.

Trade In August 2024, the top exports of Germany to Serbia were Machinery for electricity production, distribution (€32.7M), Articles of plastic (€23M), Semi-finished products of copper and copper... (€20M), Other chemical final products (€15.1M), and Motor cars and motor caravans (€14.9M). In August 2024 the top imports of Germany from Serbia were Machinery for electricity production, distribution (€98.2M), Chassis, bodies, engines etc. for motor... (€22.4M), Other electric machinery, apparatus and appliances (€14.5M), Other articles of iron, iron sheet,... (€13.9M), and Articles of rubber (€12M).

Origins In August 2024 the exports of Germany were mainly from North Rhine-Westphalia (€56.1M), Bavaria (€55.2M), Baden-Württemberg (€47.6M), Hesse (€18.7M), and Lower Saxony (€15.8M), while imports destinations were mainly Baden-Württemberg (€68.2M), Bavaria (€60.9M), North Rhine-Westphalia (€60.4M), Lower Saxony (€37.9M), and Hesse (€29.1M).

Growth In August 2024, the increase in Germany's year-by-year exports to Serbia was explained primarily by an increase in product exports in Aircraft (€7.73M or 1.18k%), Motor cars and motor caravans (€7.03M or 89.5%), and Machine-tools (€6.17M or 158%). In August 2024, the increase in Germany's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Machinery for electricity production, distribution (€18.4M or 23%), Chassis, bodies, engines etc. for motor... (€8.67M or 63.4%), and Pumps and compressors (€6.77M or 269%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (August 2023 - August 2024)€223k(0.062%)
IMPORT GROWTH (August 2023 - August 2024)€29.4M(8.77%)
MAIN EXPORTER (August 2024)North Rhine-Westphalia€56.1M

This section shows exports and imports data at subnational level for Germany. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Germany over time.

To check Serbia and Germany trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Serbia and Germany Data

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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 DestinationUnited States$153B
Serbia
Top DestinationGermany$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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