2022
Flag  
GDP
$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
Flag
GDP GROWTH
46.6%CURRENT US$
Rnk 71 / 186
2022
Flag
 GDP
$161BCURRENT US$
Rnk 58 / 186
2012-2022
Flag
GDP GROWTH
-12.1%CURRENT US$
Rnk 175 / 186
2022
Flag
GDP PC 
$9,394CURRENT US$
Rnk 80 / 186
2012-2022
Flag
GDP PC GROWTH
56.1%CURRENT US$
Rnk 32 / 186
2022
Flag
GDP PC
$4,534CURRENT US$
Rnk 115 / 186
2012-2022
Flag
GDP PC GROWTH
13.2%CURRENT US$
Rnk 103 / 186

About

Serbia-Ukraine Trade: In 2022, Serbia exported $164M to Ukraine. The main products that Serbia exported to Ukraine were Rubber Tires ($16.5M), Coated Flat-Rolled Iron ($16M), and Plastic Floor Coverings ($11.1M). Over the past 5 years the exports of Serbia to Ukraine have increased at an annualized rate of 5.76%, from $124M in 2017 to $164M in 2022.

In 2009, Serbia exported services to Ukraine worth $9.41M, with Other business services ($4.03M), Direct investment ($2.64M), and Workers' remittances ($798k) being the largest in terms of value.

Ukraine-Serbia Trade: In 2022, Ukraine exported $144M to Serbia. The main products that Ukraine exported to Serbia were Iron Ore ($75.3M), Hot-Rolled Iron ($8.34M), and Iron Pipes ($5.93M). Over the past 5 years the exports of Ukraine to Serbia have decreased at an annualized rate of 4.71%,  from $201M in 2017 to $144M in 2022.

In 2022, Ukraine 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, Ukraine ranked 44 in the Economic Complexity Index (ECI 0.5), and 61 in total exports ($47.1B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Serbia exported $164M to Ukraine. The main products exported from Serbia to Ukraine were Rubber Tires ($16.5M), Coated Flat-Rolled Iron ($16M), and Plastic Floor Coverings ($11.1M). During the last 5 years the exports of Serbia to Ukraine have increased at an annualized rate of 5.76%, from $124M in 2017 to $164M in 2022.

In 2017, Ukraine exported $144M to Serbia. The main products exported from Ukraine to Serbia were Iron Ore ($75.3M), Hot-Rolled Iron ($8.34M), and Iron Pipes ($5.93M). During the last 5 years the exports of Ukraine to Serbia have decreased at an annualized rate of 4.71%, from $201M in 2022 to $144M in 2017.

Exports from Serbia (Flag) to Ukraine (Flag) (2022)

Exports from Ukraine (Flag) to Serbia (Flag) (2022)

Latest Data

Trade between Serbia (Flag) and Ukraine (Flag)

Serbia Exports

Ukraine Exports

Market Competitiveness

Color
Serbia
Top Destination
Germany$4B
Ukraine
Top Destination
Poland$6.7B

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

In 2022, countries that imported more from Serbia than Ukraine included Bosnia and Herzegovina ($2.14B), Germany ($4B), and Croatia ($1.25B).

In 2022, countries that imported more from Ukraine than Serbia included Poland ($6.7B), Romania ($3.94B), and Turkey ($3.02B).

Difference in imports from Ukraine (Flag) and Serbia (Flag) (2022)

Comparative Advantage Serbia - Ukraine

Flow
Scale

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

During 2022, Serbia had a large net trade with Ukraine in the exports of Plastics and Rubbers ($51.2M), Chemical Products ($28M), and Machines ($26M).

During 2017, Ukraine had a large net trade with Serbia in the exports of Mineral Products ($76.9M), Metals ($25.1M), and Wood Products ($10.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Serbia Ukraine+$3.9MRubber Tires
Top Product Potential Ukraine Serbia+$3MHot-Rolled Iron

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 Ukraine. This means that a dot/product with the flag of Serbia indicates it has a comparative advantage over Ukraine. Similarly, a dot/product with the flag of Ukraine indicates it has a comparative advantage over Serbia.

Product Space of Serbia (Flag) and Ukraine (Flag) (2022)

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