Romania (ROU) and Serbia (SRB) Trade | The Observatory of Economic Complexity

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Romania-Serbia Trade: In 2023, Romania exported $1.2B to Serbia. The main products that Romania exported to Serbia were Electricity ($242M), Refined Petroleum ($90.2M), and Insulated Wire ($51.3M). Over the past 5 years the exports of Romania to Serbia have increased at an annualized rate of 10.2%, from $739M in 2018 to $1.2B in 2023.

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

Serbia-Romania Trade: In 2023, Serbia exported $1.59B to Romania. The main products that Serbia exported to Romania were Electricity ($546M), Insulated Wire ($101M), and Corn ($98M). Over the past 5 years the exports of Serbia to Romania have increased at an annualized rate of 5.02%, from $1.19B in 2018 to $1.59B in 2023.

In 2019, Serbia exported services to Romania worth $91.8M, with Transportation ($36.9M), Travel ($28M), and Other business services ($17.9M) being the largest in terms of value.

Comparison: In 2023, Romania ranked 28 in the Economic Complexity Index (ECI 1.02), and 41 in total exports ($104B). 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, Romania exported $1.2B to Serbia. The main products exported from Romania to Serbia were Electricity ($242M), Refined Petroleum ($90.2M), and Insulated Wire ($51.3M). During the last 5 years the exports of Romania to Serbia have increased at an annualized rate of 10.2%, from $739M in 2018 to $1.2B in 2023.

In 2018, Serbia exported $1.59B to Romania. The main products exported from Serbia to Romania were Electricity ($546M), Insulated Wire ($101M), and Corn ($98M). During the last 5 years the exports of Serbia to Romania have increased at an annualized rate of 5.02%, from $1.19B in 2023 to $1.59B in 2018.

Exports from Romania () to Serbia () (2023)

Exports from Serbia () to Romania () (2023)

Latest Data

Trade between Romania () and Serbia ()

Romania Exports

Date

Serbia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Romania
Top DestinationGermany$19.9B

Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Romania than Serbia included Germany ($19.9B), Italy ($10.2B), and France ($6.5B).

In 2023, countries that imported more from Serbia than Romania included Bosnia and Herzegovina ($1.77B), Montenegro ($995M), and Russia ($1.19B).

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

Comparative Advantage Romania - Serbia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Romania had a large net trade with Serbia in the exports of Mineral Products ($391M), Machines ($208M), and Metals ($156M).

During 2018, Serbia had a large net trade with Romania in the exports of Mineral Products ($566M), Machines ($190M), and Vegetable Products ($165M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Romania Serbia+$28.8MCars

Top Product Potential Serbia Romania+$43.5MInsulated 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 Romania worth $91.8M, with Transportation ($36.9M), Travel ($28M), and Other business services ($17.9M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Romania () to Serbia () (2023)

Exports from Serbia () to Romania () (2023)

Latest Data

Trade between Romania () and Serbia ()

Romania Exports

Serbia Exports

Market Competitiveness

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

Comparative Advantage Romania - Serbia

Potential Exports

Potential Exports

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Bilateral Service Trade

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

Service Trade

Economic Complexity

Competitive Landscape

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

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