Trade Trend

In 2023, Serbia's total export value is 30.77Billion USD, total import value is 39.62Billion USD, Deficit is -8.84Billion USD, and foreign trade dependency is 0.936. In 2023，Serbia's top export products are Insulated wire, cable and other electric conductors, connector fitted or not; optical fibre cables of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors(2.17Billion USD), Electrical energy(1.37Billion USD), Copper ores and concentrates(1.35Billion USD), top export destinations are Germany(4.67Billion USD), Bosnia & Herzegovina(2.12Billion USD), Italy(1.91Billion USD). In 2023, Serbia's top import products are Commodities not specified according to kind(5.33Billion USD), Petroleum oils and oils obtained from bituminous minerals; crude(1.94Billion USD), Petroleum gases and other gaseous hydrocarbons(1.39Billion USD), top import origins are Germany(5.20Billion USD), China(4.80Billion USD), Italy(2.90Billion USD).

Comparing to 2022, Serbia's total export value increased 2.29Billion USD(8.03%) in 2023, this could result from its export increases of products such as Electrical energy(982.68Million USD or 256.55%), Copper; refined and copper alloys, unwrought(321.07Million USD or 171.88%), Insulated wire, cable and other electric conductors, connector fitted or not; optical fibre cables of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors(292.92Million USD or 15.61%) and export increases to countries/economics such as Germany(699.27Million USD or 17.62%), Romania(278.04Million USD or 21.97%), Czech Republic(274.29Million USD or 30.52%). Comparing to 2022, Serbia's total import value decreased -82.99Million USD(-0.21%) in 2023, this could result from its import decreases of products such as Petroleum gases and other gaseous hydrocarbons(-385.70Million USD or -21.67%), Petroleum oils and oils obtained from bituminous minerals; crude(-343.91Million USD or -15.08%), Fertilizers; mineral or chemical, nitrogenous(-206.35Million USD or -49.26%), and its import decreases from countries/economies such as Russia(-1.31Billion USD or -43.16%), Hungary(-519.27Million USD or -23.85%), Iraq(-357.12Million USD or -29.50%).

Cumulated to first 7 months of 2024, Serbia's total export value is 10.32Billion USD, total import value is 12.84Billion USD, and tradedeficit is -2.52Billion USD. Cumulated to first 7 months of 2024, Serbia's top export products are Insulated wire, cable and other electric conductors, connector fitted or not; optical fibre cables of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors(769.38Million USD), Copper ores and concentrates(591.58Million USD), Copper; refined and copper alloys, unwrought(405.18Million USD), and top export destinations are Germany(1.67Billion USD), China(827.08Million USD), Hungary(648.61Million USD). Cumulated to first 7 months of 2024, Serbia's top import products are Insulated wire, cable and other electric conductors, connector fitted or not; optical fibre cables of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors(769.38Million USD), Copper ores and concentrates(591.58Million USD), Copper; refined and copper alloys, unwrought(405.18Million USD), and top import origins areGermany(1.72Billion USD), China(1.50Billion USD), Italy(972.79Million USD).