2022
Exports
$584MWorld Rnk 74 / 214
Flag Rnk 7 / 1171
2022
PRODUCT COMPLEXITY IN Refined Petroleum
-0.87Rnk 795 / 1025
2022
Imports
$846MWorld Rnk 118 / 225
Flag Rnk 6 / 1196
2022
ECONOMIC COMPLEXITY of Serbia
0.75Rnk 36 / 133

About

Exports In 2022, Serbia exported $584M in Refined Petroleum, making it the 74th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 7th most exported product in Serbia. The main destination of Refined Petroleum exports from Serbia are: Bosnia and Herzegovina ($267M), Romania ($59.6M), Bulgaria ($41.5M), Slovakia ($35.1M), and Croatia ($27.4M).

The fastest growing export markets for Refined Petroleum of Serbia between 2021 and 2022 were Bosnia and Herzegovina ($31.6M), Romania ($25M), and Austria ($18.7M).

Imports In 2022, Serbia imported $846M in Refined Petroleum, becoming the 118th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 6th most imported product in Serbia. Serbia imports Refined Petroleum primarily from: Hungary ($152M), North Macedonia ($111M), Slovakia ($109M), Bulgaria ($105M), and Romania ($101M).

The fastest growing import markets in Refined Petroleum for Serbia between 2021 and 2022 were Russia ($75.6M), Slovakia ($43.2M), and North Macedonia ($35.9M).

Latest Trends

Oct 2024

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 Refined Petroleum. 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 (2022)$584M
IMPORTS (2022)$846M
NET TRADE (2022)-$262M

In 2022, Serbia exported $584M in Refined Petroleum. The main destinations of Serbia exports on Refined Petroleum were Bosnia and Herzegovina ($267M), Romania ($59.6M), Bulgaria ($41.5M), Slovakia ($35.1M), and Croatia ($27.4M).

In 2022, Serbia imported $846M in Refined Petroleum, mainly from Hungary ($152M), North Macedonia ($111M), Slovakia ($109M), Bulgaria ($105M), and Romania ($101M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Serbia WERE (2021 - 2022):
Romania$25M (72.1%)
Austria$18.7M (3.1k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Serbia WERE (2021 - 2022):
Slovakia-$9.88M (-22%)
United Kingdom-$1.71M (-35.8%)
Croatia-$1.11M (-3.9%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Serbia's main exporting competitors in Refined Petroleum were:
In 2022, Serbia's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $33.8M
TOP IMPORT POTENTIALRussia+ $85.4M

Refined Petroleum’s highest export potential is United States. With an export gap of $33.8M.   Refined Petroleum’s highest import potential is Russia with an import gap of $85.4M.

See methodology.

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