Serbia (SRB) and Bulgaria (BGR) Trade | The Observatory of Economic Complexity

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Serbia-Bulgaria Trade: In 2022, Serbia exported $937M to Bulgaria. The main products that Serbia exported to Bulgaria were Copper Ore ($147M), Hot-Rolled Iron ($61.1M), and Refined Petroleum ($41.5M). Over the past 5 years the exports of Serbia to Bulgaria have increased at an annualized rate of 7.07%, from $666M in 2017 to $937M in 2022.

In 2019, Serbia exported services to Bulgaria worth $111M, with Travel ($31.3M), Other business services ($31.3M), and Transportation ($26.9M) being the largest in terms of value.

Bulgaria-Serbia Trade: In 2022, Bulgaria exported $1.29B to Serbia. The main products that Bulgaria exported to Serbia were Electricity ($258M), Refined Petroleum ($105M), and Refined Copper ($96.2M). Over the past 5 years the exports of Bulgaria to Serbia have increased at an annualized rate of 17%, from $590M in 2017 to $1.29B in 2022.

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

Comparison: In 2022, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.68), and 60 in total exports ($51.9B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Serbia exported $937M to Bulgaria. The main products exported from Serbia to Bulgaria were Copper Ore ($147M), Hot-Rolled Iron ($61.1M), and Refined Petroleum ($41.5M). During the last 5 years the exports of Serbia to Bulgaria have increased at an annualized rate of 7.07%, from $666M in 2017 to $937M in 2022.

In 2017, Bulgaria exported $1.29B to Serbia. The main products exported from Bulgaria to Serbia were Electricity ($258M), Refined Petroleum ($105M), and Refined Copper ($96.2M). During the last 5 years the exports of Bulgaria to Serbia have increased at an annualized rate of 17%, from $590M in 2022 to $1.29B in 2017.

Exports from Serbia () to Bulgaria () (2022)

Exports from Bulgaria () to Serbia () (2022)

Latest Data

Trade between Serbia () and Bulgaria ()

Serbia Exports

Date

Bulgaria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Serbia
Top DestinationGermany$4B

Bulgaria
Top DestinationGermany$6.91B

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

In 2022, countries that imported more from Serbia than Bulgaria included Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and Hungary ($1.69B).

In 2022, countries that imported more from Bulgaria than Serbia included Romania ($6.55B), Germany ($6.91B), and Greece ($2.93B).

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

Comparative Advantage Serbia - Bulgaria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Serbia had a large net trade with Bulgaria in the exports of Mineral Products ($237M), Metals ($211M), and Foodstuffs ($100M).

During 2017, Bulgaria had a large net trade with Serbia in the exports of Mineral Products ($411M), Metals ($187M), and Chemical Products ($156M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Serbia Bulgaria+$15.4MCopper Ore

Top Product Potential Bulgaria Serbia+$21.5MPetroleum Gas

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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Serbia () to Bulgaria () (2022)

Exports from Bulgaria () to Serbia () (2022)

Latest Data

Trade between Serbia () and Bulgaria ()

Serbia Exports

Bulgaria Exports

Market Competitiveness

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

Comparative Advantage Serbia - Bulgaria

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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