Serbia (SRB) and Thailand (THA) Trade | The Observatory of Economic Complexity

About

Serbia-Thailand Trade: In 2023, Serbia exported $19.9M to Thailand. The main products that Serbia exported to Thailand were Electric Motors ($9.42M), Liquid Pumps ($745k), and Seats ($732k). Over the past 5 years the exports of Serbia to Thailand have increased at an annualized rate of 14.4%, from $10.2M in 2018 to $19.9M in 2023.

In 2019, Serbia exported services to Thailand worth $1.12M, with Other business services ($1.12M) being the largest in terms of value.

Thailand-Serbia Trade: In 2023, Thailand exported $98.9M to Serbia. The main products that Thailand exported to Serbia were Rubber ($22.5M), Processed Fish ($9.47M), and Delivery Trucks ($7.89M). Over the past 5 years the exports of Thailand to Serbia have increased at an annualized rate of 7.31%, from $69.5M in 2018 to $98.9M in 2023.

In 2023, Thailand 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Serbia exported $19.9M to Thailand. The main products exported from Serbia to Thailand were Electric Motors ($9.42M), Liquid Pumps ($745k), and Seats ($732k). During the last 5 years the exports of Serbia to Thailand have increased at an annualized rate of 14.4%, from $10.2M in 2018 to $19.9M in 2023.

In 2018, Thailand exported $98.9M to Serbia. The main products exported from Thailand to Serbia were Rubber ($22.5M), Processed Fish ($9.47M), and Delivery Trucks ($7.89M). During the last 5 years the exports of Thailand to Serbia have increased at an annualized rate of 7.31%, from $69.5M in 2023 to $98.9M in 2018.

Exports from Serbia () to Thailand () (2023)

Exports from Thailand () to Serbia () (2023)

Latest Data

Trade between Serbia () and Thailand ()

Serbia Exports

Date

Thailand Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Serbia
Top DestinationGermany$4.76B

Thailand
Top DestinationUnited States$58.5B

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

In 2023, countries that imported more from Serbia than Thailand included Bosnia and Herzegovina ($1.77B), Hungary ($2.26B), and Romania ($1.59B).

In 2023, countries that imported more from Thailand than Serbia included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

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

Comparative Advantage Serbia - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Serbia had a large net trade with Thailand in the exports of Machines ($12.2M), Chemical Products ($1.67M), and Instruments ($1.11M).

During 2018, Thailand had a large net trade with Serbia in the exports of Plastics and Rubbers ($29M), Machines ($28.4M), and Foodstuffs ($11.1M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Serbia Thailand+$5.32MElectric Motors

Top Product Potential Thailand Serbia+$6.01MComputers

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Serbia () to Thailand () (2023)

Exports from Thailand () to Serbia () (2023)

Latest Data

Trade between Serbia () and Thailand ()

Serbia Exports

Thailand Exports

Market Competitiveness

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

Comparative Advantage Serbia - Thailand

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring