Iceland (ISL) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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Iceland-Serbia Trade: In 2023, Iceland exported $404k to Serbia. The main products that Iceland exported to Serbia were Non-fillet Frozen Fish ($247k), Hydrogen ($26.1k), and Retail Wool or Animal Hair Yarn ($25.4k). Over the past 5 years the exports of Iceland to Serbia have decreased at an annualized rate of 8.09%, from $616k in 2018 to $404k in 2023.

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

Serbia-Iceland Trade: In 2023, Serbia exported $7.82M to Iceland. The main products that Serbia exported to Iceland were Rubber Tires ($1.07M), Cellulose Fibers Paper ($1.01M), and Fluorides ($838k). Over the past 5 years the exports of Serbia to Iceland have increased at an annualized rate of 24%, from $2.67M in 2018 to $7.82M in 2023.

In 2019, Serbia exported services to Iceland worth $6.72M, with Computer and information services ($4.48M), Travel ($1.12M), and Other business services ($1.12M) being the largest in terms of value.

Comparison In 2023, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Iceland exported $404k to Serbia. The main products exported from Iceland to Serbia were Non-fillet Frozen Fish ($247k), Hydrogen ($26.1k), and Retail Wool or Animal Hair Yarn ($25.4k). During the last 5 years the exports of Iceland to Serbia have decreased at an annualized rate of 8.09%, from $616k in 2018 to $404k in 2023.

In 2018, Serbia exported $7.82M to Iceland. The main products exported from Serbia to Iceland were Rubber Tires ($1.07M), Cellulose Fibers Paper ($1.01M), and Fluorides ($838k). During the last 5 years the exports of Serbia to Iceland have increased at an annualized rate of 24%, from $2.67M in 2023 to $7.82M in 2018.

Exports from Iceland () to Serbia () (2023)

Exports from Serbia () to Iceland () (2023)

Latest Data

Trade between Iceland () and Serbia ()

Iceland Exports

Date

Serbia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Iceland
Top DestinationNetherlands$1.97B

Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Iceland than Serbia included Netherlands ($1.97B), Norway ($444M), and Denmark ($228M).

In 2023, countries that imported more from Serbia than Iceland included Germany ($4.76B), Hungary ($2.26B), and Bosnia and Herzegovina ($1.77B).

Difference in imports from Serbia () and Iceland () (2023)

Comparative Advantage Iceland - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Iceland had a large net trade with Serbia in the exports of Animal Products ($257k), Chemical Products ($50k), and Textiles ($29.2k).

During 2018, Serbia had a large net trade with Iceland in the exports of Plastics and Rubbers ($1.83M), Chemical Products ($1.31M), and Paper Goods ($1.05M).

Bilateral Service Trade

Srb Year

In 2019, Serbia exported services to Iceland worth $6.72M, with Computer and information services ($4.48M), Travel ($1.12M), and Other business services ($1.12M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Iceland () to Serbia () (2023)

Exports from Serbia () to Iceland () (2023)

Latest Data

Trade between Iceland () and Serbia ()

Iceland Exports

Serbia Exports

Market Competitiveness

Difference in imports from Serbia () and Iceland () (2023)

Comparative Advantage Iceland - Serbia

Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Iceland () and Serbia () (2023)

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