Serbia-Iraq Bilateral Trade Analysis 2023
Complete trade statistics: $852.01M total volume •Serbia deficit: $852.01M
Serbia → Iraq
$0
Exports (2023)
Iraq → Serbia
$852.01M
Imports (2023)
Trade Balance
$852.01M
Deficit for Serbia
Total Trade
$852.01M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Serbia and Iraq. 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-Iraq commercial relationship and competitive positioning in global markets.
Serbia → Iraq Exports
Export Market Intelligence
🎯 Strategic Export Focus
Serbia's export portfolio to Iraq demonstrates strategic specialization, with plastics: tube, pipe and hose fittings (e.g. joints, elbows, flanges) representing a key competitive advantage in this bilateral market.
Iraq → Serbia Imports
Import Dependency Profile
📦 Import Strategy Analysis
Serbia's import pattern from Iraq reveals significant dependencyin oils: petroleum oils and oils obtained from bituminous minerals, crude, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Serbia demonstrates competitive strength in exportingplastics: tube, pipe and hose fittings (e.g. joints, elbows, flanges) to Iraq, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $852.01M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Serbia-Iraq Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $852.01 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Serbia maintains a deficit of $852.01 million
- Export Focus: Serbia's primary exports include plastics: tube, pipe and hose fittings (e.g. joints, elbows, flanges), cereals: maize (corn), seed, medicaments: containing hormones (but not insulin), adrenal cortex hormones or antibiotics, for therapeutic or prophylactic uses, packaged for retail sale
- Import Dependencies: Key imports from Iraq include oils: petroleum oils and oils obtained from bituminous minerals, crude, cereals: triticale, cosmetic and toilet preparations: manicure or pedicure preparations
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 $852.01M 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 plastics: tube, pipe and hose fittings (e.g. joints, elbows, flanges).
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 plastics: tube, pipe and hose fittings (e.g. joints, elbows, flanges)complements Iraq's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in oils: petroleum oils and oils obtained from bituminous minerals, crude.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $852.01M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $852.01M 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 $852.01 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in plastics: tube, pipe and hose fittings (e.g. joints, elbows, flanges) and oils: petroleum oils and oils obtained from bituminous minerals, crude demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Serbia's trade deficit of $852.01 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 Iraq represents a total trade volume of $852.01 million in 2023. This partnership demonstrates an unfavorable trade balance for Serbia, with imports exceeding exportsby $852.01 million.
Export Strengths
Serbia's exports to Iraq total $0.00, with competitive advantages in plastics: tube, pipe and hose fittings (e.g. joints, elbows, flanges), representing $1.20M orInfinity% of bilateral exports.
Import Dependencies
Imports from Iraq amount to $852.01 million, highlighting economic interdependence in oils: petroleum oils and oils obtained from bituminous minerals, crude, with Oils: petroleum oils and oils obtained from bituminous minerals, crude comprising100.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Serbia's strategic sourcing from Iraq. 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 Iraq in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023