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Trade between Russia and Serbia

In 2024, Russia exported $1.3 billion to Serbia and imported $962 million. Russia ran a surplus of $361 million with Serbia, compared with a surplus of $1.5 billion in 2019. Serbia was Russia’s 32nd largest trading partner (0.4% of its trade), and Russia was Serbia’s 10th (3%).

Summary

Russia → Serbia
$1.3billion
Serbia → Russia
$962million
Russia’s balance
$361million

Balance

Russia’s trade balance with Serbia

Trade between Russia and Serbia grew 4.9-fold since 1996

USD billions (current). Russia’s exports and imports; bars: its balance (green surplus, red deficit).

  • Exports 1.3
  • Imports 1
  • Balance +0.4

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$0$0$0
1996$276 million$186 million$90 million
1997$402 million$201 million$202 million
1998$447 million$160 million$287 million
1999$249 million$82 million$168 million
2000$299 million$99 million$200 million
2001$644 million$82 million$562 million
2002$743 million$107 million$636 million
2003$113 million$115 million-$2 million
2004$1.4 billion$182 million$1.2 billion
2005$183 million$260 million-$77 million
2006$2.1 billion$388 million$1.8 billion
2007$2.6 billion$536 million$2 billion
2008$3.4 billion$628 million$2.8 billion
2009$1.9 billion$377 million$1.5 billion
2010$2 billion$575 million$1.5 billion
2011$2.5 billion$862 million$1.6 billion
2012$2 billion$921 million$1.1 billion
2013$1.8 billion$1.1 billion$704 million
2014$2.3 billion$1.1 billion$1.2 billion
2015$1.7 billion$768 million$969 million
2016$1.5 billion$884 million$595 million
2017$1.6 billion$1.1 billion$501 million
2018$2 billion$1.1 billion$951 million
2019$2.5 billion$1 billion$1.5 billion
2020$1.3 billion$988 million$354 million
2021$1.7 billion$1.1 billion$636 million
2022$3 billion$1.2 billion$1.9 billion
2023$1.7 billion$1.2 billion$500 million
2024$1.3 billion$962 million$361 million

What they sell each other

What Russia sells to Serbia

The top 10 headings in 2024, with their share of the total.

  1. Natural gas and LPG$848 million · 64.1%
    1.7 million tonnes
  2. Nitrogen fertilizers$116 million · 8.8%
    357 thousand tonnes
  3. Mixed fertilizers$89 million · 6.7%
    214 thousand tonnes
  4. Pork$50 million · 3.8%
    15 thousand tonnes
  5. Aircraft parts$27 million · 2.1%
    35 tonnes
  6. Airplanes and helicopters$25 million · 1.9%
    117 tonnes
  7. Potash fertilizers$19 million · 1.4%
    103 thousand tonnes
  8. Carbon black and other carbon$11 million · 0.86%
  9. Synthetic rubber$10 million · 0.74%
    4 thousand tonnes
  10. Other processed tobacco$7 million · 0.54%
    590 tonnes

What Serbia sells to Russia

The top 10 headings in 2024, with their share of the total.

  1. Refrigerators, freezers and heat pumps$98 million · 10.2%
    10 thousand tonnes
  2. Socks and tights$65 million · 6.8%
    3 thousand tonnes
  3. Medicines in measured doses or retail packs$56 million · 5.8%
    3 thousand tonnes · Russia’s sources
  4. Apples and pears$49 million · 5%
    66 thousand tonnes
  5. Soft drinks$39 million · 4.1%
    26 thousand tonnes
  6. Frozen fruit$33 million · 3.5%
    15 thousand tonnes
  7. Pet and animal feed$28 million · 2.9%
    8 thousand tonnes
  8. Cheese$23 million · 2.4%
    6 thousand tonnes
  9. Nitrogen heterocyclic compounds$22 million · 2.3%
    12 tonnes
  10. Copper pipe fittings$19 million · 2%
    502 tonnes

How it travels

Estimated sea route from Saint Petersburg to Bar (Montenegro).

The estimated sea route between Saint Petersburg and Bar (Montenegro) is 4,172 nautical miles (7,726 km) long: ≈ 9.5–12.5 days at sea (at 18 and 14 knots).

Passages it crosses: Øresund, Strait of Dover and Strait of Gibraltar.

Serbia is landlocked: it ships through Bar (Montenegro).

Sailing estimate without port calls, waiting or transshipment; not a schedule. One main reference port per country: in large countries it does not represent all of its ports.

Split by transport mode

  1. Sea$2 billion · 88.2%
  2. Air$271 million · 11.8%

Mode estimated from value per kilo and geography; both directions together.

How much each matters to the other

Serbia was Russia’s 32nd largest trading partner (0.4% of its trade), and Russia was Serbia’s 10th (3%).

Serbia in Russia’s trade
0.4%
Serbia’s rank among Russia’s partners
32nd
Russia in Serbia’s trade
3.1%
Russia’s rank among Serbia’s partners
10th

Compare with

Other partners of Russia

Other partners of Serbia

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. The sea route comes from our own network derived from World Bank shipping density (not from nautical charts), between one main reference port per country (World Port Index); days are the distance at 14 and 18 knots, without port calls or waiting. Data up to 2024.