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2023
Flag → Flag
Exports $674MRnk 61 / 220
2023
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Top Product $97.2MPig Meat
2023
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Exports $457MRnk 22 / 184
2023
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Top Product $85.8MRubber Tires
2023
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Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
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Economic Complexity (ECI) ECI 0.76Rnk 35 / 132
2023
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GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
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GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
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 GDP$81.3BCURRENT US$
Rnk 77 / 195
2013-2023
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GDP GROWTH61.2%CURRENT US$
Rnk 53 / 195
2023
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GDP PC $33,509CURRENT US$
Rnk 40 / 195
2013-2023
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GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195
2023
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GDP PC$12,282CURRENT US$
Rnk 82 / 196
2013-2023
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GDP PC GROWTH74.4%CURRENT US$
Rnk 20 / 195

About

Spain-Serbia Trade: In 2023, Spain exported $674M to Serbia. The main products that Spain exported to Serbia were Pig Meat ($97.2M), Planes, Helicopters, and/or Spacecraft ($71.2M), and Non-fillet Frozen Fish ($16M). Over the past 5 years the exports of Spain to Serbia have increased at an annualized rate of 11.2%, from $396M in 2018 to $674M in 2023.

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

Serbia-Spain Trade: In 2023, Serbia exported $457M to Spain. The main products that Serbia exported to Spain were Rubber Tires ($85.8M), Copper Ore ($49.6M), and Seats ($25.5M). Over the past 5 years the exports of Serbia to Spain have increased at an annualized rate of 11.4%,  from $266M in 2018 to $457M in 2023.

In 2019, Serbia exported services to Spain worth $67.2M, with Travel ($26.9M), Other business services ($19M), and Transportation ($7.84M) being the largest in terms of value.

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B).

Latest Trends

November, 2024

About

Overview In November 2024, Spain exported €41.3M and imported €33.1M from Serbia, resulting in a positive trade balance of €8.19M. Between November 2023 and November 2024 the exports of Spain have decreased by €-42.5M (-50.8%) from €83.8M to €41.3M, while imports increased by €1.17M (3.68%) from €31.9M to €33.1M.

Trade In November 2024, the top exports of Spain to Serbia were Pig Meat (€4.03M), Electrical Lighting and Signalling Equipment (€1.33M), Tractors (€1.31M), Planes, Helicopters, and/or Spacecraft (€1.08M), and Perfumes (€967k). In November 2024 the top imports of Spain from Serbia were Rubber Tires (€6.79M), Seats (€2.39M), Cleaning Products (€1.66M), Cellulose Fibers Paper (€1.57M), and Packaged Medicaments (€1.08M).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€9.61M), Madrid (€3.93M), Castellón (€3.67M), Zaragoza (€3.35M), and Girona (€2.18M), while imports destinations were mainly Barcelona (€8.86M), Madrid (€2.71M), Tarragona (€2.22M), Álava (€2.16M), and Pontevedra (€2.08M).

Growth In November 2024, the decrease in Spain's year-by-year exports to Serbia was explained primarily by an decrease in product exports in Motor vehicles; parts and accessories (8701... (€-1.28M or -59.9%), Propylene Polymers (€-550k or -80.1%), and Cars (€-529k or -50.9%). In November 2024, the increase in Spain's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Cellulose Fibers Paper (€670k or 74.2%), Refrigerators (€568k or 1.6k%), and Cleaning Products (€465k or 39%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-42.5M(-50.8%)
IMPORT GROWTH (November 2023 - November 2024)€1.17M(3.68%)
MAIN EXPORTER (November 2024)Barcelona€9.61M

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

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

For full datasets download visit Bulk Download page.

Explore Serbia and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $674M to Serbia. The main products exported from Spain to Serbia were Pig Meat ($97.2M), Planes, Helicopters, and/or Spacecraft ($71.2M), and Non-fillet Frozen Fish ($16M). During the last 5 years the exports of Spain to Serbia have increased at an annualized rate of 11.2%, from $396M in 2018 to $674M in 2023.

In 2018, Serbia exported $457M to Spain. The main products exported from Serbia to Spain were Rubber Tires ($85.8M), Copper Ore ($49.6M), and Seats ($25.5M). During the last 5 years the exports of Serbia to Spain have increased at an annualized rate of 11.4%, from $266M in 2023 to $457M in 2018.

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

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

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Spain than Serbia included France ($61.9B), Portugal ($38.1B), and Germany ($40.2B).

In 2023, countries that imported more from Serbia than Spain included Bosnia and Herzegovina ($1.77B), Montenegro ($995M), and North Macedonia ($932M).

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

Comparative Advantage Spain - Serbia

Flow
Scale

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

During 2023, Spain had a large net trade with Serbia in the exports of Animal Products ($127M), Transportation ($119M), and Machines ($111M).

During 2018, Serbia had a large net trade with Spain in the exports of Plastics and Rubbers ($138M), Machines ($69.6M), and Mineral Products ($49.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Serbia+$22.9MCars
Top Product Potential Serbia Spain+$13.4MMotor 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 Spain worth $67.2M, with Travel ($26.9M), Other business services ($19M), and Transportation ($7.84M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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