2023
Flag  
GDP
$81.3BCURRENT US$
Rnk 77 / 195
2013-2023
Flag
GDP GROWTH
61.2%CURRENT US$
Rnk 53 / 195
2023
Flag
 GDP
$407BCURRENT US$
Rnk 35 / 195
2013-2023
Flag
GDP GROWTH
18.1%CURRENT US$
Rnk 146 / 195
2023
Flag
GDP PC 
$12,282CURRENT US$
Rnk 82 / 195
2013-2023
Flag
GDP PC GROWTH
74.4%CURRENT US$
Rnk 20 / 195
2023
Flag
GDP PC
$68,454CURRENT US$
Rnk 14 / 196
2013-2023
Flag
GDP PC GROWTH
11.5%CURRENT US$
Rnk 129 / 195

About

Serbia-Denmark Trade: In 2023, Serbia exported $81.4M to Denmark. The main products that Serbia exported to Denmark were Packaged Medicaments ($9.57M), Other Furniture ($6.83M), and Aluminium Plating ($5.11M). Over the past 5 years the exports of Serbia to Denmark have increased at an annualized rate of 3.29%, from $69.3M in 2018 to $81.4M in 2023.

In 2019, Serbia exported services to Denmark worth $42.5M, with Other business services ($15.7M), Computer and information services ($12.3M), and Travel ($7.84M) being the largest in terms of value.

Denmark-Serbia Trade: In 2023, Denmark exported $320M to Serbia. The main products that Denmark exported to Serbia were Electricity ($64.1M), Packaged Medicaments ($44.1M), and Liquid Pumps ($23M). Over the past 5 years the exports of Denmark to Serbia have increased at an annualized rate of 10.5%,  from $194M in 2018 to $320M in 2023.

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

Comparison: In 2023,  Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B). That same year, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Serbia exported $81.4M to Denmark. The main products exported from Serbia to Denmark were Packaged Medicaments ($9.57M), Other Furniture ($6.83M), and Aluminium Plating ($5.11M). During the last 5 years the exports of Serbia to Denmark have increased at an annualized rate of 3.29%, from $69.3M in 2018 to $81.4M in 2023.

In 2018, Denmark exported $320M to Serbia. The main products exported from Denmark to Serbia were Electricity ($64.1M), Packaged Medicaments ($44.1M), and Liquid Pumps ($23M). During the last 5 years the exports of Denmark to Serbia have increased at an annualized rate of 10.5%, from $194M in 2023 to $320M in 2018.

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

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

Latest Data

Trade between Serbia (Flag) and Denmark (Flag)

Serbia Exports

Denmark Exports

Market Competitiveness

Color
Serbia
Top Destination
Germany$4.76B
Denmark
Top Destination
Germany$14.8B

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

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

In 2023, countries that imported more from Denmark than Serbia included United States ($12B), Sweden ($11.2B), and Germany ($14.8B).

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

Comparative Advantage Serbia - Denmark

Flow
Scale

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

During 2023, Serbia had a large net trade with Denmark in the exports of Machines ($18.3M), Chemical Products ($11.9M), and Metals ($10.7M).

During 2018, Denmark had a large net trade with Serbia in the exports of Machines ($98.7M), Mineral Products ($64.6M), and Chemical Products ($62.2M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Serbia Denmark+$5.81MPackaged Medicaments
Top Product Potential Denmark Serbia+$21.1MPackaged Medicaments

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

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

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

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