Finland (FIN) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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Finland-Serbia Trade: In 2022, Finland exported $108M to Serbia. The main products that Finland exported to Serbia were Propylene Polymers ($14.3M), Lifting Machinery ($9.71M), and Machinery Having Individual Functions ($8.79M). Over the past 5 years the exports of Finland to Serbia have increased at an annualized rate of 18.7%, from $45.9M in 2017 to $108M in 2022.

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

Serbia-Finland Trade: In 2022, Serbia exported $156M to Finland. The main products that Serbia exported to Finland were Copper Ore ($80.8M), Air Pumps ($11.9M), and Insulated Wire ($7.72M). Over the past 5 years the exports of Serbia to Finland have increased at an annualized rate of 38.2%, from $31M in 2017 to $156M in 2022.

In 2019, Serbia exported services to Finland worth $21.3M, with Computer and information services ($8.96M), Other business services ($5.6M), and Transportation ($2.24M) being the largest in terms of value.

Comparison: In 2022, Finland ranked 13 in the Economic Complexity Index (ECI 1.41), and 46 in total exports ($89.9B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Finland exported $108M to Serbia. The main products exported from Finland to Serbia were Propylene Polymers ($14.3M), Lifting Machinery ($9.71M), and Machinery Having Individual Functions ($8.79M). During the last 5 years the exports of Finland to Serbia have increased at an annualized rate of 18.7%, from $45.9M in 2017 to $108M in 2022.

In 2017, Serbia exported $156M to Finland. The main products exported from Serbia to Finland were Copper Ore ($80.8M), Air Pumps ($11.9M), and Insulated Wire ($7.72M). During the last 5 years the exports of Serbia to Finland have increased at an annualized rate of 38.2%, from $31M in 2022 to $156M in 2017.

Exports from Finland () to Serbia () (2022)

Exports from Serbia () to Finland () (2022)

Latest Data

Trade between Finland () and Serbia ()

Finland Exports

Date

Serbia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Finland
Top DestinationGermany$9.99B

Serbia
Top DestinationGermany$4B

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

In 2022, countries that imported more from Finland than Serbia included Sweden ($9.1B), United States ($9.17B), and Germany ($9.99B).

In 2022, countries that imported more from Serbia than Finland included Bosnia and Herzegovina ($2.14B), Hungary ($1.69B), and Croatia ($1.25B).

Difference in imports from Serbia () and Finland () (2022)

Comparative Advantage Finland - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Finland had a large net trade with Serbia in the exports of Machines ($44M), Plastics and Rubbers ($17.6M), and Paper Goods ($15.2M).

During 2017, Serbia had a large net trade with Finland in the exports of Mineral Products ($80.9M), Machines ($40.3M), and Plastics and Rubbers ($7.81M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Finland Serbia+$4.93MCars

Top Product Potential Serbia Finland+$6.1MInsulated Wire

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

Srb Year

In 2019, Serbia exported services to Finland worth $21.3M, with Computer and information services ($8.96M), Other business services ($5.6M), and Transportation ($2.24M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Serbia () to Finland () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Finland () to Serbia () (2022)

Exports from Serbia () to Finland () (2022)

Latest Data

Trade between Finland () and Serbia ()

Finland Exports

Serbia Exports

Market Competitiveness

Difference in imports from Serbia () and Finland () (2022)

Comparative Advantage Finland - Serbia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Serbia () to Finland () (2019)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Finland () and Serbia () (2022)

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