Imports

Serbia's import purchases total $39.7 billion in 2022. 17.5% acceleration in the total value of Serbia's exported goods from $33.8 billion between 2021 and 2022.

Serbia's Best International Trade Suppliers

The latest country-specific data show that Serbia's imports are mainly supplied by exporters from the following countries: Mainland China (35.6% of Serbia's total), Germany (7.5%), Russia (5.2%), Italy (5.1%), Hungary (4%), Turkey (2.8%), Poland (2.7%), Iraq (2.2%), France (2.2%), Bosnia and Herzegovina (1.8%), Romania (1.7%) and Austria (1.3%).

Serbia's Top 10 Imports

1. Mineral fuels including oil: $5.9 billion (14.9% of total imports)

2. Machinery including computers: $3.4 billion (8.5%)

3. Electrical machinery and equipment: $3.4 billion (8.5%)

4. Plastics, plastic products: $2.2 billion (5.6%)

5. Vehicles: $1.6 billion (4%)

6. Pharmaceuticals: $1.5 billion (3.9%)

7. Steel: $1.1 billion (2.7%)

8. Iron and steel products: $995 million (2.5%)

9. Aluminum: $863.6 million (2.2%)

10. Paper, paper products: $835.7 million (2.1%)

Serbia's top ten imports account for more than half (54.9%) of its total purchases of products from other countries.

Imported fossil fuels, including oil, are the fastest-growing value of Serbia's top 10 import categories, increasing by 93.4% from 2021 to 2022. Second in improving import purchases is Serbia's imports of paper, including materials and paper products (up 21.9%) ahead of Serbia's aluminum purchases (up 17.3%).

The only year-on-year decline was in Serbian imports of automobiles down -4.3%.

At the more granular 4-digit HS code level, Serbia's most valuable imports were crude oil (5.7% of Serbia's total imports), liquefied petroleum gas (4.5%), dosage-mixed pharmaceuticals (3.2%), refined petroleum oils (2%), automobiles (1.7%), telephony equipment, including smartphones (1.3%), insulated wires or cables (1.3%), nitrogen fertilizer ( 1.1%), electrical energy (also 1.1%), and automobile parts or accessories (1%).

Exports

Serbia exported $28.5 billion worth of products worldwide in 2022. From 2021 to 2022, the total value of Serbia's exports increased by 11.4% from $25.6 billion.

Best Trading Partners For Purchasing Serbian Exports

The latest country-specific data show that Serbian exports are mainly purchased by importers from the following countries: Germany (13.9% of the Serbian total), Italy (7.4%), Bosnia and Herzegovina (7.3%), Hungary (5.1%), Romania (4.4%), Russia (4.19%), China (4.18%), Montenegro (3.8%), Croatia (3.6%), Croatia (3.6%) and the United States (3.8%). ), Croatia (3.6%), North Macedonia (3.5%), Poland (3.4%) and Bulgaria (3.2%).

Serbia's Top 10 Export Products

1. Electrical machinery and equipment: $4.3 billion (15.2% of total exports)

2. Machinery including computers: $2.2 billion (7.6%)

3. Ores, slag, ash: 1.9 billion dollars (6.7%)

4. Plastics, plastic products: $1.4 billion (4.9%)

5. Rubber, rubber products: $1.2 billion (4.3%)

6. Iron and steel: $1.2 billion (4.2%)

7. Fossil fuels including oil: $1.1 billion (3.8%)

8. Vehicles: $902.7 million (3.2%)

9. Fruits, nuts: $892.1 million (3.1%)

10. Furniture, bedding, lighting, signs, prefabricated buildings: $882.2 million (3.1%)

Serbia's top 10 exports account for more than half (56%) of its total global exports.

Ore, slag and ash is the fastest growing of the top ten export categories, growing by 101.5% from 2021 to 2022. This product category is driven by increased revenues from international sales of copper ores and concentrates from Serbia. The second highest growth in export sales was in fossil fuels, including oil, which increased by 43.5%. Shipments of machinery, including computers, ranked third in Serbia with a 19.2% increase.

The biggest drop in Serbia's top 10 export categories was fruits and nuts, down -8.5% year-on-year.

At the more detailed four-digit HS code level, Serbia's most valuable export commodity was insulated wire and cable (6.6% of Serbia's global total). In second place were Serbia's exports of copper ores and concentrates (6.3%), followed by new rubber tires (3.2%), electric motors and generators (2.7%), frozen fruits and nuts (2.1%), hot-rolled ferrous or nonmetallic products, alloy steel products (2.1%), refined petroleum (2.1%), automotive parts or accessories (1.8%), various organic cleaning preparations (1.7% ), corn (1.5%).

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