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2023
Flag → Flag
Exports $101MRnk 54 / 211
2023
Flag → Flag
Top Product $14.5MInsulated Wire
2023
Flag → Flag
Exports $48.5MRnk 50 / 184
2023
Flag → Flag
Top Product $8.05MRubber Tires
2023
Flag
Economic Complexity (ECI) ECI 0.57Rnk 42 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.76Rnk 35 / 132
2023
Flag  
GDP$289BCURRENT US$
Rnk 48 / 195
2013-2023
Flag
GDP GROWTH27.5%CURRENT US$
Rnk 119 / 195
2023
Flag
 GDP$81.3BCURRENT US$
Rnk 77 / 195
2013-2023
Flag
GDP GROWTH61.2%CURRENT US$
Rnk 53 / 195
2023
Flag
GDP PC $27,331CURRENT US$
Rnk 50 / 195
2013-2023
Flag
GDP PC GROWTH26.1%CURRENT US$
Rnk 84 / 195
2023
Flag
GDP PC$12,282CURRENT US$
Rnk 82 / 196
2013-2023
Flag
GDP PC GROWTH74.4%CURRENT US$
Rnk 20 / 195

About

Portugal-Serbia Trade: In 2023, Portugal exported $101M to Serbia. The main products that Portugal exported to Serbia were Insulated Wire ($14.5M), Plastic Coated Textile Fabric ($14.1M), and Tanned Equine and Bovine Hides ($4.99M). Over the past 5 years the exports of Portugal to Serbia have increased at an annualized rate of 10.7%, from $60.9M in 2018 to $101M in 2023.

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

Serbia-Portugal Trade: In 2023, Serbia exported $48.5M to Portugal. The main products that Serbia exported to Portugal were Rubber Tires ($8.05M), Rubber Pipes ($5.44M), and Other Leather Articles ($4.7M). Over the past 5 years the exports of Serbia to Portugal have increased at an annualized rate of 21.8%,  from $18.1M in 2018 to $48.5M in 2023.

In 2019, Serbia exported services to Portugal worth $7.84M, with Travel ($3.36M), Other business services ($2.24M), and Transportation ($1.12M) being the largest in terms of value.

Comparison: In 2023,  Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 46 in total exports ($83B). 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, Portugal exported €4.8M and imported €4.06M from Serbia, resulting in a positive trade balance of €738k. Between November 2023 and November 2024 the exports of Portugal have decreased by €-1.63M (-25.4%) from €6.43M to €4.8M, while imports increased by €915k (29.1%) from €3.14M to €4.06M.

Trade In November 2024, the top exports of Portugal to Serbia were Electrical machinery and electronics (€1.17M), Coated, covered, & laminated fabrics for... (€900k), Plastics & articles thereof (€447k), Footwear (€275k), and Raw hides & skin (non-fur) (€257k). In November 2024 the top imports of Portugal from Serbia were Rubber & articles thereof (€892k), Plastics & articles thereof (€278k), Soap, cleaners, candles, dental, modelling pastes (€244k), Leather articles (€230k), and Raw hides & skin (non-fur) (€168k).

Growth In November 2024, the decrease in Portugal's year-by-year exports to Serbia was explained primarily by an decrease in product exports in Raw hides & skin (non-fur) (€-215k or -45.6%), Paper articles (€-156k or -48.3%), and Pharmaceutical products (€-142k or -96.9%). In November 2024, the increase in Portugal's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Raw hides & skin (non-fur) (€161k or 2.18k%), Pharmaceutical products (€82.4k or 146%), and Wood, wood articles, & charcoal (€45.8k or 170%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (November 2023 - November 2024)€-1.63M(-25.4%)
IMPORT GROWTH (November 2023 - November 2024)€915k(29.1%)

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

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

For full datasets download visit Bulk Download page.

Explore Serbia and Portugal Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Portugal exported $101M to Serbia. The main products exported from Portugal to Serbia were Insulated Wire ($14.5M), Plastic Coated Textile Fabric ($14.1M), and Tanned Equine and Bovine Hides ($4.99M). During the last 5 years the exports of Portugal to Serbia have increased at an annualized rate of 10.7%, from $60.9M in 2018 to $101M in 2023.

In 2018, Serbia exported $48.5M to Portugal. The main products exported from Serbia to Portugal were Rubber Tires ($8.05M), Rubber Pipes ($5.44M), and Other Leather Articles ($4.7M). During the last 5 years the exports of Serbia to Portugal have increased at an annualized rate of 21.8%, from $18.1M in 2023 to $48.5M in 2018.

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

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

Market Competitiveness

Color
Portugal
Top DestinationSpain$17.7B
Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Portugal than Serbia included Spain ($17.7B), France ($9.19B), and United States ($6.41B).

In 2023, countries that imported more from Serbia than Portugal included Hungary ($2.26B), Bosnia and Herzegovina ($1.77B), and Russia ($1.19B).

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

Comparative Advantage Portugal - Serbia

Flow
Scale

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

During 2023, Portugal had a large net trade with Serbia in the exports of Machines ($33.8M), Textiles ($20.7M), and Plastics and Rubbers ($10.4M).

During 2018, Serbia had a large net trade with Portugal in the exports of Plastics and Rubbers ($18.1M), Machines ($7.57M), and Chemical Products ($6.74M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Portugal Serbia+$2.97MInsulated Wire
Top Product Potential Serbia Portugal+$3.89MRubber Tires

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 Portugal worth $7.84M, with Travel ($3.36M), Other business services ($2.24M), and Transportation ($1.12M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

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

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

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