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2022
Flag → Flag
Exports $3.42BRnk 13 / 205
2022
Flag → Flag
Top Product $808MElectricity
2022
Flag → Flag
Exports $1.69BRnk 4 / 174
2022
Flag → Flag
Top Product $258MInsulated Wire
2022
Flag
Economic Complexity (ECI) ECI 1.38Rnk 14 / 133
2022
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Economic Complexity (ECI) ECI 0.75Rnk 36 / 133
2022
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GDP$179BCURRENT US$
Rnk 57 / 186
2012-2022
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GDP GROWTH38.8%CURRENT US$
Rnk 86 / 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 $18,463CURRENT US$
Rnk 55 / 186
2012-2022
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GDP PC GROWTH42.2%CURRENT US$
Rnk 44 / 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

Hungary-Serbia Trade: In 2022, Hungary exported $3.42B to Serbia. The main products that Hungary exported to Serbia were Electricity ($808M), Petroleum Gas ($545M), and Broadcasting Equipment ($156M). Over the past 5 years the exports of Hungary to Serbia have increased at an annualized rate of 15.1%, from $1.69B in 2017 to $3.42B in 2022.

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

Serbia-Hungary Trade: In 2022, Serbia exported $1.69B to Hungary. The main products that Serbia exported to Hungary were Insulated Wire ($258M), Electricity ($210M), and Integrated Circuits ($76M). Over the past 5 years the exports of Serbia to Hungary have increased at an annualized rate of 20.8%,  from $659M in 2017 to $1.69B in 2022.

In 2019, Serbia exported services to Hungary worth $143M, with Transportation ($62.7M), Other business services ($45.9M), and Travel ($19M) being the largest in terms of value.

Comparison: In 2022,  Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). 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, Hungary exported $3.42B to Serbia. The main products exported from Hungary to Serbia were Electricity ($808M), Petroleum Gas ($545M), and Broadcasting Equipment ($156M). During the last 5 years the exports of Hungary to Serbia have increased at an annualized rate of 15.1%, from $1.69B in 2017 to $3.42B in 2022.

In 2017, Serbia exported $1.69B to Hungary. The main products exported from Serbia to Hungary were Insulated Wire ($258M), Electricity ($210M), and Integrated Circuits ($76M). During the last 5 years the exports of Serbia to Hungary have increased at an annualized rate of 20.8%, from $659M in 2022 to $1.69B in 2017.

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

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

Latest Data

Trade between Hungary (Flag) and Serbia (Flag)

Hungary Exports

Serbia Exports

Market Competitiveness

Color
Hungary
Top DestinationGermany$35.5B
Serbia
Top DestinationGermany$4B

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

In 2022, countries that imported more from Hungary than Serbia included Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

In 2022, countries that imported more from Serbia than Hungary included Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and North Macedonia ($1.03B).

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

Comparative Advantage Hungary - Serbia

Flow
Scale

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

During 2022, Hungary had a large net trade with Serbia in the exports of Mineral Products ($1.54B), Machines ($541M), and Chemical Products ($308M).

During 2017, Serbia had a large net trade with Hungary in the exports of Machines ($600M), Mineral Products ($308M), and Metals ($165M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Hungary Serbia+$53.4MCars
Top Product Potential Serbia Hungary+$36.6MElectricity

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 Hungary worth $143M, with Transportation ($62.7M), Other business services ($45.9M), and Travel ($19M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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