Russian Federation-Serbia Bilateral Trade Analysis 2023
Complete trade statistics: $2.89B total volume •Russian Federation surplus: $499.98M
Russian Federation → Serbia
$1.69B
Exports (2023)
Serbia → Russian Federation
$1.19B
Imports (2023)
Trade Balance
$499.98M
Surplus for Russian Federation
Total Trade
$2.89B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Russian Federation and Serbia. Green line shows exports from Russian Federation, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Russian Federation-Serbia commercial relationship and competitive positioning in global markets.
Russian Federation → Serbia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Russian Federation's export portfolio to Serbia demonstrates strategic specialization, with petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas representing a key competitive advantage in this bilateral market.
Serbia → Russian Federation Imports
Import Dependency Profile
📦 Import Strategy Analysis
Russian Federation's import pattern from Serbia reveals strategic sourcingin refrigerators and freezers: combined refrigerator-freezers, fitted with separate external doors, electric or other, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Russian Federation demonstrates competitive strength in exportingpetroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas to Serbia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $2.89B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Russian Federation-Serbia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $2.89 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Russian Federation maintains a surplus of $499.98 million
- Export Focus: Russian Federation's primary exports include petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, fertilizers, mineral or chemical: nitrogenous, urea, whether or not in aqueous solution, fertilizers, mineral or chemical: containing the three fertilizing elements nitrogen, phosphorus and potassium
- Import Dependencies: Key imports from Serbia include refrigerators and freezers: combined refrigerator-freezers, fitted with separate external doors, electric or other, dog or cat food: put up for retail sale, used in animal feeding, hosiery: panty hose and tights (other than graduated compression hosiery), of synthetic fibres, measuring per single yarn less than 67 decitex, knitted or crocheted
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $2.89B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Russian Federation leveraging its comparative advantages in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Russian Federation's specialization in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gascomplements Serbia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in refrigerators and freezers: combined refrigerator-freezers, fitted with separate external doors, electric or other.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $2.89B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $2.89B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $2.89 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas and refrigerators and freezers: combined refrigerator-freezers, fitted with separate external doors, electric or other demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Russian Federation's trade surplus of $499.98 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Russian Federation and Serbia represents a total trade volume of $2.89 billion in 2023. This partnership demonstrates a favorable trade balance for Russian Federation, with exports exceeding importsby $499.98 million.
Export Strengths
Russian Federation's exports to Serbia total $1.69 billion, with competitive advantages in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, representing $1.19B or70.1% of bilateral exports.
Import Dependencies
Imports from Serbia amount to $1.19 billion, highlighting economic interdependence in refrigerators and freezers: combined refrigerator-freezers, fitted with separate external doors, electric or other, with Refrigerators and freezers: combined refrigerator-freezers, fitted with separate external doors, electric or other comprising7.5% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Russian Federation's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Russian Federation and Serbia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023