2022
Flag  
GDP
$2.24TCURRENT US$
Rnk 8 / 186
2012-2022
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GDP GROWTH
1.45%CURRENT US$
Rnk 164 / 186
2022
Flag
 GDP
$63.5BCURRENT US$
Rnk 84 / 186
2012-2022
Flag
GDP GROWTH
46.6%CURRENT US$
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2022
Flag
GDP PC 
$15,345CURRENT US$
Rnk 63 / 186
2012-2022
Flag
GDP PC GROWTH
-0.49%CURRENT US$
Rnk 145 / 186
2022
Flag
GDP PC
$9,394CURRENT US$
Rnk 80 / 186
2012-2022
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GDP PC GROWTH
56.1%CURRENT US$
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About

Russia-Serbia Trade: In 2022, Russia exported $3.05B to Serbia. The main products that Russia exported to Serbia were Crude Petroleum ($1.05B), Petroleum Gas ($1.01B), and Nitrogenous Fertilizers ($207M). Over the past 5 years the exports of Russia to Serbia have increased at an annualized rate of 15.6%, from $1.47B in 2017 to $3.05B in 2022.

In 2020, Russia exported services to Serbia worth $240M, with Construction services ($104M), Other business services ($82.9M), and Transportation ($20.3M) being the largest in terms of value.

Serbia-Russia Trade: In 2022, Serbia exported $1.19B to Russia. The main products that Serbia exported to Russia were Apples and Pears ($75.5M), Refrigerators ($74.5M), and Knit Socks and Hosiery ($69.3M). Over the past 5 years the exports of Serbia to Russia have increased at an annualized rate of 2.66%,  from $1.05B in 2017 to $1.19B in 2022.

In 2019, Serbia exported services to Russia worth $237M, with Construction services ($86.2M), Transportation ($54.9M), and Other business services ($53.7M) being the largest in terms of value.

Comparison: In 2022,  Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Russia exported $3.05B to Serbia. The main products exported from Russia to Serbia were Crude Petroleum ($1.05B), Petroleum Gas ($1.01B), and Nitrogenous Fertilizers ($207M). During the last 5 years the exports of Russia to Serbia have increased at an annualized rate of 15.6%, from $1.47B in 2017 to $3.05B in 2022.

In 2017, Serbia exported $1.19B to Russia. The main products exported from Serbia to Russia were Apples and Pears ($75.5M), Refrigerators ($74.5M), and Knit Socks and Hosiery ($69.3M). During the last 5 years the exports of Serbia to Russia have increased at an annualized rate of 2.66%, from $1.05B in 2022 to $1.19B in 2017.

Exports from Russia (Flag) to Serbia (Flag) (2022)

Exports from Serbia (Flag) to Russia (Flag) (2022)

Market Competitiveness

Color
Russia
Top Destination
China$101B
Serbia
Top Destination
Germany$4B

This map shows whether countries import more from Russia or Serbia. Each country is colored based on the difference in imports they receive from Russia and Serbia or the difference in the growth in imports.

In 2022, countries that imported more from Russia than Serbia included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Serbia than Russia included Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and Croatia ($1.25B).

Difference in imports from Serbia (Flag) and Russia (Flag) (2022)

Comparative Advantage Russia - Serbia

Flow
Scale

This chart compares trade between Russia and Serbia by product, considering products traded by both, Russia and Serbia.

During 2022, Russia had a large net trade with Serbia in the exports of Mineral Products ($2.22B), Chemical Products ($408M), and Foodstuffs ($89.8M).

During 2017, Serbia had a large net trade with Russia in the exports of Machines ($275M), Vegetable Products ($206M), and Textiles ($153M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Russia Serbia+$108MPetroleum Gas
Top Product Potential Serbia Russia+$25.5MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2020, Russia exported services to Serbia worth $240M, with Construction services ($104M), Other business services ($82.9M), and Transportation ($20.3M) being the largest in terms of value.

In 2019, Serbia exported services to Russia worth $237M, with Construction services ($86.2M), Transportation ($54.9M), and Other business services ($53.7M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia (Flag) to Serbia (Flag) (2020)

Services Exports from Serbia (Flag) to Russia (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Russia and Serbia. This means that a dot/product with the flag of Russia indicates it has a comparative advantage over Serbia. Similarly, a dot/product with the flag of Serbia indicates it has a comparative advantage over Russia.

Product Space of Russia (Flag) and Serbia (Flag) (2022)

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