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2023
Flag → Flag
Exports $290MRnk 56 / 216
2023
Flag → Flag
Top Product $51.9MKaolin Coated Paper
2023
Flag → Flag
Exports $514MRnk 21 / 184
2023
Flag → Flag
Top Product $168MInsulated Wire
2023
Flag
Economic Complexity (ECI) ECI 1.53Rnk 9 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.76Rnk 35 / 132
2023
Flag  
GDP$585BCURRENT US$
Rnk 24 / 195
2013-2023
Flag
GDP GROWTH0.14%CURRENT US$
Rnk 170 / 195
2023
Flag
 GDP$81.3BCURRENT US$
Rnk 77 / 195
2013-2023
Flag
GDP GROWTH61.2%CURRENT US$
Rnk 53 / 195
2023
Flag
GDP PC $55,517CURRENT US$
Rnk 19 / 195
2013-2023
Flag
GDP PC GROWTH-8.76%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC$12,282CURRENT US$
Rnk 82 / 196
2013-2023
Flag
GDP PC GROWTH74.4%CURRENT US$
Rnk 20 / 195

About

Sweden-Serbia Trade: In 2023, Sweden exported $290M to Serbia. The main products that Sweden exported to Serbia were Kaolin Coated Paper ($51.9M), Delivery Trucks ($19.3M), and Cars ($18.7M). Over the past 5 years the exports of Sweden to Serbia have increased at an annualized rate of 13%, from $158M in 2018 to $290M in 2023.

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

Serbia-Sweden Trade: In 2023, Serbia exported $514M to Sweden. The main products that Serbia exported to Sweden were Insulated Wire ($168M), Electric Motors ($87.9M), and Copper Ore ($33.4M). Over the past 5 years the exports of Serbia to Sweden have increased at an annualized rate of 18.1%,  from $223M in 2018 to $514M in 2023.

In 2019, Serbia exported services to Sweden worth $90.7M, with Computer and information services ($52.6M), Other business services ($13.4M), and Travel ($12.3M) being the largest in terms of value.

Comparison: In 2023,  Sweden ranked 9 in the Economic Complexity Index (ECI 1.53), and 32 in total exports ($188B). That same year, Serbia ranked 35 in the Economic Complexity Index (ECI 0.76), and 69 in total exports ($32.6B).

Latest Trends

October, 2024

About

Overview In October 2024, Sweden exported SEK220M and imported SEK682M from Serbia, resulting in a negative trade balance of SEK462M. Between October 2023 and October 2024 the exports of Sweden have decreased by SEK-51.5M (-18.9%) from SEK272M to SEK220M, while imports increased by SEK250M (58%) from SEK432M to SEK682M.

Trade In October 2024, the top exports of Sweden to Serbia were Kaolin Coated Paper (SEK18.7M), Cars (SEK17.7M), Vaccines, blood, antisera, toxins and cultures (SEK7.39M), Other Vegetable Oils (SEK6.94M), and Concentrated Milk (SEK6.61M). In October 2024 the top imports of Sweden from Serbia were Insulated Wire (SEK140M), Electric Motors (SEK65.9M), Frozen Fruits and Nuts (SEK18.8M), Flexible Metal Tubing (SEK15.9M), and Engine Parts (SEK14M).

Growth In October 2024, the decrease in Sweden's year-by-year exports to Serbia was explained primarily by an decrease in product exports in Refrigerators (SEK-6.36M or -96.7%), Kaolin Coated Paper (SEK-4.09M or -18%), and Delivery Trucks (SEK-3.2M or -58.2%). In October 2024, the increase in Sweden's year-by-year imports  from Serbia was explained primarily by an increase in product imports  in Insulated Wire (SEK49.7M or 54.8%), Electric Motors (SEK16M or 32%), and Engine Parts (SEK11.6M or 476%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)SEK-51.5M(-18.9%)
IMPORT GROWTH (October 2023 - October 2024)SEK250M(58%)

This section shows exports and imports data at subnational level for Sweden. Click any date in the line plot or any product to explore the exports or imports behavior of Sweden over time.

To check Serbia and Sweden trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Serbia and Sweden Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Sweden exported $290M to Serbia. The main products exported from Sweden to Serbia were Kaolin Coated Paper ($51.9M), Delivery Trucks ($19.3M), and Cars ($18.7M). During the last 5 years the exports of Sweden to Serbia have increased at an annualized rate of 13%, from $158M in 2018 to $290M in 2023.

In 2018, Serbia exported $514M to Sweden. The main products exported from Serbia to Sweden were Insulated Wire ($168M), Electric Motors ($87.9M), and Copper Ore ($33.4M). During the last 5 years the exports of Serbia to Sweden have increased at an annualized rate of 18.1%, from $223M in 2023 to $514M in 2018.

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

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

Market Competitiveness

Color
Sweden
Top DestinationGermany$18.4B
Serbia
Top DestinationGermany$4.76B

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

In 2023, countries that imported more from Sweden than Serbia included United States ($18.1B), Denmark ($14.4B), and Germany ($18.4B).

In 2023, countries that imported more from Serbia than Sweden included Bosnia and Herzegovina ($1.77B), Hungary ($2.26B), and Montenegro ($995M).

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

Comparative Advantage Sweden - Serbia

Flow
Scale

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

During 2023, Sweden had a large net trade with Serbia in the exports of Paper Goods ($71.7M), Machines ($69.4M), and Transportation ($53.9M).

During 2018, Serbia had a large net trade with Sweden in the exports of Machines ($338M), Metals ($35.9M), and Mineral Products ($33.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Sweden Serbia+$15.9MCars
Top Product Potential Serbia Sweden+$7.45MRubber Tires

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

In 2019, Serbia exported services to Sweden worth $90.7M, with Computer and information services ($52.6M), Other business services ($13.4M), and Travel ($12.3M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Serbia (Flag) to Sweden (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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