2023
Exports
$5.34MWorld Rnk 47 / 160
Flag Rnk 406 / 1165
2023
PRODUCT COMPLEXITY IN Electric Furnaces
1.62Rnk 31 / 1025
2023
Imports
$11.8MWorld Rnk 64 / 206
Flag Rnk 447 / 1188
2023
ECONOMIC COMPLEXITY of Serbia
0.76Rnk 35 / 132

About

Exports In 2023, Serbia exported $5.34M in Electric Furnaces, making it the 47th largest exporter of Electric Furnaces in the world. At the same year, Electric Furnaces was the 406th most exported product in Serbia. The main destination of Electric Furnaces exports from Serbia are: Germany ($1.43M), France ($930k), Bosnia and Herzegovina ($544k), Russia ($503k), and Montenegro ($313k).

The fastest growing export markets for Electric Furnaces of Serbia between 2022 and 2023 were France ($843k), Germany ($650k), and Russia ($215k).

Imports In 2023, Serbia imported $11.8M in Electric Furnaces, becoming the 64th largest importer of Electric Furnaces in the world. At the same year, Electric Furnaces was the 447th most imported product in Serbia. Serbia imports Electric Furnaces primarily from: Germany ($2.81M), Italy ($2.24M), China ($1.43M), United States ($884k), and Czechia ($624k).

The fastest growing import markets in Electric Furnaces for Serbia between 2022 and 2023 were United States ($814k), Czechia ($527k), and Germany ($519k).

Latest Trends

Jan 2025

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Electric Furnaces. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$5.34M
IMPORTS (2023)$11.8M
NET TRADE (2023)-$6.47M

In 2023, Serbia exported $5.34M in Electric Furnaces. The main destinations of Serbia exports on Electric Furnaces were Germany ($1.43M), France ($930k), Bosnia and Herzegovina ($544k), Russia ($503k), and Montenegro ($313k).

In 2023, Serbia imported $11.8M in Electric Furnaces, mainly from Germany ($2.81M), Italy ($2.24M), China ($1.43M), United States ($884k), and Czechia ($624k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electric Furnaces EXPORT MARKETS FOR Serbia WERE (2022 - 2023):
France$843k (973%)
Germany$650k (83%)
Russia$215k (74.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Furnaces BY Serbia WERE (2022 - 2023):
Bosnia and Herzegovina-$828k (-60.4%)
Greece-$688k (-93.8%)
Croatia-$207k (-45.8%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Serbia's main exporting competitors in Electric Furnaces were:
China $1.28B
Italy $638M
In 2023, Serbia's main importing competitors in Electric Furnaces were:

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Trade Value of Electric Furnaces by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALRussia+ $227k
TOP IMPORT POTENTIALChina+ $849k

Electric Furnaces’s highest export potential is Russia. With an export gap of $227k.   Electric Furnaces’s highest import potential is China with an import gap of $849k.

See methodology.

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