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Serbia trade in 2024

In 2024, Serbia exported $34.7 billion and imported $39.9 billion, a trade deficit of $5.1 billion. It was the world's 68th-largest exporter, with 0.15% of world exports. Its top export was cables and wire (6.7% of the total) and its main trading partner was Germany (13.2% of its trade).

Summary

Exports
$34.7billion
Imports
$39.9billion
Trade balance
-$5.1billion
Routes to the main partners. Width: trade value; color: estimated transport mode.SeaAirLand
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Products

What it exports

Cables and wire (6.7%) and copper ore (4.7%) together make up 11.5% of its exports.

  1. Cables and wire$2.3 billion · 6.7%
    Main partner: Germany
  2. Copper ore$1.6 billion · 4.7%
    Main partner: China
  3. Refined copper$1.3 billion · 3.8%
    Main partner: China
  4. Electricity$1.1 billion · 3.1%
    Main partner: Hungary
  5. New tires$1.1 billion · 3.1%
    Main partner: United States
  6. Electric motors and generators$985 million · 2.8%
    Main partner: Germany
  7. Auto parts$940 million · 2.7%
    Main partner: Germany
  8. Corn$693 million · 2%
    Main partner: Romania
  9. Cigarettes and cigars$571 million · 1.6%
    Main partner: Japan
  10. Seats and chairs$507 million · 1.5%
    Main partner: Czechia

What it imports

Crude petroleum (3.4%) and medicines in measured doses or retail packs (3.4%) together make up 6.8% of its imports.

  1. Crude petroleum$1.4 billion · 3.4%
    Main partner: Iraq
  2. Medicines in measured doses or retail packs$1.3 billion · 3.4%
    Main partner: Germany
  3. Cars$1.1 billion · 2.8%
    Main partner: Germany
  4. Natural gas and LPG$1.1 billion · 2.8%
    Main partner: Russia
  5. Refined petroleum$959 million · 2.4%
    Main partner: Hungary
  6. Electricity$797 million · 2%
    Main partner: Bosnia and Herzegovina
  7. Cables and wire$631 million · 1.6%
    Main partner: Turkey
  8. Cameras and broadcast equipment$587 million · 1.5%
    Main partner: China
  9. Auto parts$490 million · 1.2%
    Main partner: China
  10. Motor and generator parts$425 million · 1.1%
    Main partner: Germany
By Harmonized System chapter (96)
ChapterExportsImports
85 · Electrical and electronic equipment$5.5 billion$4.3 billion
84 · Mechanical machinery$2.8 billion$4.3 billion
26 · Ores and slag$1.9 billion$498 million
27 · Oil, gas and coal$1.9 billion$4.9 billion
74 · Copper$1.7 billion$615 million
40 · Rubber$1.5 billion$739 million
39 · Plastics$1.4 billion$2.4 billion
87 · Vehicles$1.3 billion$2.5 billion
94 · Furniture and lighting$1.1 billion$468 million
10 · Cereals$1 billion$106 million
24 · Tobacco$970 million$405 million
08 · Fruit and nuts$806 million$391 million
48 · Paper and paperboard$784 million$877 million
73 · Iron and steel products$780 million$1.1 billion
72 · Iron and steel$751 million$1.1 billion
76 · Aluminum$744 million$956 million
61 · Knitted clothing$605 million$428 million
22 · Beverages and spirits$581 million$314 million
90 · Precision and medical instruments$546 million$728 million
34 · Soap and cleaning products$533 million$378 million
30 · Pharmaceuticals$438 million$1.8 billion
21 · Food preparations$432 million$408 million
86 · Railway equipment$432 million$269 million
23 · Animal feed and food waste$397 million$198 million
44 · Wood$397 million$406 million
19 · Baked goods and cereal products$359 million$334 million
15 · Fats and oils$309 million$162 million
64 · Footwear$282 million$198 million
62 · Woven clothing$263 million$340 million
20 · Preserved fruit and vegetables$236 million$207 million
18 · Cocoa and chocolate$215 million$335 million
93 · Weapons and ammunition$213 million$44 million
31 · Fertilizers$212 million$354 million
70 · Glass$192 million$303 million
32 · Dyes, paints and tanning agents$181 million$268 million
12 · Oilseeds and grains$181 million$205 million
42 · Leather goods and bags$169 million$136 million
83 · Miscellaneous metal goods$157 million$203 million
29 · Organic chemicals$155 million$353 million
28 · Inorganic chemicals$154 million$250 million
07 · Vegetables$149 million$211 million
69 · Ceramics$132 million$168 million
04 · Dairy, eggs and honey$122 million$228 million
89 · Ships and boats$116 million$108 million
63 · Home textiles and used clothing$113 million$129 million
11 · Milling products and malt$108 million$47 million
68 · Stone, plaster and cement articles$100 million$172 million
36 · Explosives and matches$91 million$63 million
38 · Miscellaneous chemicals$90 million$413 million
17 · Sugar and sweets$84 million$105 million
71 · Gems and precious metals$71 million$170 million
33 · Perfumes and cosmetics$69 million$487 million
16 · Prepared meat and fish$69 million$185 million
49 · Books and printed matter$67 million$67 million
56 · Felt, nonwovens and rope$57 million$127 million
82 · Tools and cutlery$54 million$185 million
25 · Salt, stone and cement$53 million$230 million
01 · Live animals$52 million$84 million
95 · Toys and sports gear$49 million$174 million
57 · Carpets and rugs$48 million$37 million
41 · Hides and leather$47 million$204 million
60 · Knitted fabric$40 million$131 million
02 · Meat and offal$37 million$336 million
09 · Coffee, tea and spices$36 million$151 million
59 · Coated and technical textiles$36 million$200 million
78 · Lead$35 million$7 million
96 · Other manufactured goods$28 million$81 million
06 · Live plants and flowers$28 million$47 million
35 · Glues, starches and enzymes$23 million$90 million
55 · Synthetic staple fibers$20 million$104 million
54 · Synthetic filaments$19 million$141 million
03 · Fish and seafood$18 million$106 million
47 · Wood pulp$18 million$117 million
88 · Aircraft and spacecraft$14 million$254 million
52 · Cotton$9 million$65 million
05 · Other animal products$8 million$14 million
65 · Hats$6 million$12 million
75 · Nickel$5 million$31 million
58 · Special fabrics and lace$4 million$37 million
79 · Zinc$4 million$36 million
91 · Watches and clocks$4 million$55 million
13 · Gums and plant extracts$4 million$11 million
92 · Musical instruments$4 million$9 million
81 · Other base metals$3 million$17 million
97 · Art and antiques$3 million$1 million
14 · Other plant products$2 million$3 million
37 · Photographic goods$1 million$16 million
51 · Wool$969 thousand$14 million
80 · Tin$733 thousand$14 million
43 · Fur and fur goods$645 thousand$2 million
66 · Umbrellas and canes$556 thousand$7 million
67 · Feathers and artificial flowers$503 thousand$6 million
45 · Cork$353 thousand$2 million
53 · Other plant fibers$273 thousand$6 million
46 · Wicker and basketware$184 thousand$3 million
50 · Silk$15 thousand$1 million

Trading partners

Germany is its main destination (14.6% of exports) and source (11.9% of imports).

Who it sells to

PartnerValue (USD billions)ShareMode
Germany5.114.6%Sea
Hungary2.26.3%Land
China2.16%Sea
Bosnia and Herzegovina1.85.2%Land
Italy1.75%Sea
Romania1.64.8%Land
Czechia1.43.9%Sea
Turkey1.23.5%Sea
Bulgaria1.13.3%Land
Croatia1.13.1%Land

Who it buys from

PartnerValue (USD billions)ShareMode
Germany4.811.9%Sea
China4.310.8%Sea
Italy2.86.9%Sea
Turkey2.46%Sea
Hungary24.9%Land
Poland1.53.8%Sea
Russia1.33.3%Sea
Croatia1.12.8%Land
Slovenia1.12.8%Sea
Bosnia and Herzegovina1.12.7%Land

Overview 1995–2024

In 2024, Serbia accounted for 0.15% of world exports, compared with 0.01% in 1995.

Exports and imports

Exports grew 137-fold since 1995

USD billions (current). Bars: trade balance (green surplus, red deficit).

  • Exports 34.7
  • Imports 39.9
  • Balance -5.1

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$253 million$549 million-$296 million
1996$2.1 billion$4.7 billion-$2.5 billion
1997$3 billion$5.4 billion-$2.4 billion
1998$3 billion$5.3 billion-$2.4 billion
1999$1.8 billion$3.9 billion-$2.1 billion
2000$2.1 billion$4.5 billion-$2.4 billion
2001$2.2 billion$5.4 billion-$3.2 billion
2002$2.7 billion$6.8 billion-$4.1 billion
2003$2.4 billion$6.1 billion-$3.7 billion
2004$4.3 billion$11.8 billion-$7.4 billion
2005$4.7 billion$9.3 billion-$4.6 billion
2006$6.8 billion$13.4 billion-$6.6 billion
2007$9.5 billion$20 billion-$10.5 billion
2008$11.9 billion$24.7 billion-$12.8 billion
2009$9 billion$15.1 billion-$6.1 billion
2010$10.5 billion$15.8 billion-$5.3 billion
2011$12.5 billion$20.5 billion-$8 billion
2012$12 billion$19.1 billion-$7.1 billion
2013$15.4 billion$21.1 billion-$5.8 billion
2014$16 billion$20.3 billion-$4.3 billion
2015$14.7 billion$18.5 billion-$3.8 billion
2016$16.2 billion$18.3 billion-$2 billion
2017$18.6 billion$21.4 billion-$2.8 billion
2018$20.5 billion$25.3 billion-$4.8 billion
2019$21.2 billion$26.6 billion-$5.4 billion
2020$21.3 billion$25.8 billion-$4.5 billion
2021$27.4 billion$33 billion-$5.5 billion
2022$31.2 billion$39.6 billion-$8.3 billion
2023$32.6 billion$38.4 billion-$5.8 billion
2024$34.7 billion$39.9 billion-$5.1 billion

World rank

Serbia rose from 144th to 68th among the world's exporters

Rank among 222 countries by export value (1st at the top).

  • 144th in 1995
  • 68th in 2024

Source: CEPII BACI

Show the numbers
YearRank
1995144th
199691st
199784th
199882nd
1999103rd
2000105th
2001104th
200296th
2003107th
200491st
200597th
200690th
200783rd
200882nd
200983rd
201083rd
201187th
201287th
201379th
201480th
201577th
201674th
201772nd
201875th
201973rd
202070th
202172nd
202271st
202369th
202468th

What it sells

Its top export group is still electrical and electronic equipment: 16% in 2024

% of exports by Harmonized System chapter.

  • Other 48%
  • Vehicles 4%
  • Plastics 4%
  • Rubber 4%
  • Copper 5%
  • Oil, gas and coal 5%
  • Ores and slag 5%
  • Mechanical machinery 8%
  • Electrical and electronic equipment 16%

Source: CEPII BACI

Show the numbers
Chapter19952024
Electrical and electronic equipment4.4%15.8%
Mechanical machinery3%8%
Ores and slag0%5.4%
Oil, gas and coal0.43%5.4%
Copper4%4.8%
Rubber0.8%4.4%
Plastics1%4.1%
Vehicles1.3%3.7%
Other85.2%48.4%

Who it trades with

China went from 1% to 9% of Serbia's trade

% of total trade (exports + imports) with each partner.

  • Germany 13%
  • China 9%
  • Italy 6%
  • Hungary 6%
  • Turkey 5%

Source: CEPII BACI

Show the numbers
Partner19952024
Germany9.8%13.2%
China1.4%8.6%
Italy0.85%6.1%
Hungary3.5%5.6%
Turkey0%4.8%

Production hubs

Largest industrial emission sources (Climate TRACE, 2025)

  • Nikola Tesla power stationPower · 16.6 Mt CO₂e
  • Kostolac power stationPower · 7.2 Mt CO₂e
  • Pannonian basinOil and gas · 5.1 Mt CO₂e
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Largest economic production hubs (gridded GDP, 2024)

  • Belgrade$113.1 billion (PPP, 2021 dollars)
  • Niš$17.1 billion (PPP, 2021 dollars)
  • Kragujevac$14.3 billion (PPP, 2021 dollars)
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Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. Ranks are computed among the countries with data each year. Services are not included. Data up to 2024.

Neighboring countries

Main partners

See all countries