Serbia-Germany Bilateral Trade Analysis 2023
Complete trade statistics: $9.95B total volume •Serbia deficit: $308.40M
Serbia → Germany
$4.82B
Exports (2023)
Germany → Serbia
$5.13B
Imports (2023)
Trade Balance
$308.40M
Deficit for Serbia
Total Trade
$9.95B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Serbia and Germany. Green line shows exports from Serbia, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Serbia-Germany commercial relationship and competitive positioning in global markets.
Serbia → Germany Exports
Export Market Intelligence
🎯 Strategic Export Focus
Serbia's export portfolio to Germany demonstrates strong diversification across multiple sectors, with insulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships representing a key competitive advantage in this bilateral market.
Germany → Serbia Imports
Import Dependency Profile
📦 Import Strategy Analysis
Serbia's import pattern from Germany reveals strategic sourcingin medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Serbia demonstrates competitive strength in exportinginsulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships to Germany, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $9.95B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Serbia-Germany Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $9.95 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Serbia maintains a deficit of $308.40 million
- Export Focus: Serbia's primary exports include insulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships, electric motors and generators: parts suitable for use solely or principally with the machines of heading no. 8501 or 8502, vehicle parts and accessories: n.e.c. in heading no. 8708
- Import Dependencies: Key imports from Germany include medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, copper: wire, of refined copper, of which the maximum cross-sectional dimension exceeds 6mm, vehicles: with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc
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 $9.95B 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 Serbia leveraging its comparative advantages in insulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships.
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
Serbia's specialization in insulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or shipscomplements Germany's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $9.95B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $9.95B 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 $9.95 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in insulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships and medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Serbia's trade deficit of $308.40 million impacts 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 Serbia and Germany represents a total trade volume of $9.95 billion in 2023. This partnership demonstrates an unfavorable trade balance for Serbia, with imports exceeding exportsby $308.40 million.
Export Strengths
Serbia's exports to Germany total $4.82 billion, with competitive advantages in insulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships, representing $610.08M or12.7% of bilateral exports.
Import Dependencies
Imports from Germany amount to $5.13 billion, highlighting economic interdependence in medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, with Medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale comprising4.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Serbia's strategic sourcing from Germany. 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 Serbia and Germany in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023