Türkiye-Serbia Bilateral Trade Analysis 2023
Complete trade statistics: $2.94B total volume •Türkiye surplus: $1.53B
Türkiye → Serbia
$2.24B
Exports (2023)
Serbia → Türkiye
$706.02M
Imports (2023)
Trade Balance
$1.53B
Surplus for Türkiye
Total Trade
$2.94B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Türkiye and Serbia. Green line shows exports from Türkiye, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Türkiye-Serbia commercial relationship and competitive positioning in global markets.
Türkiye → Serbia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Türkiye's export portfolio to Serbia demonstrates strategic specialization, with insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectors representing a key competitive advantage in this bilateral market.
Serbia → Türkiye Imports
Import Dependency Profile
📦 Import Strategy Analysis
Türkiye's import pattern from Serbia reveals significant dependencyin machinery: for filtering or purifying gases, other than intake air filters for internal combustion engines, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Türkiye demonstrates competitive strength in exportinginsulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectors to Serbia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $2.94B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Türkiye-Serbia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $2.94 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Türkiye maintains a surplus of $1.53 billion
- Export Focus: Türkiye's primary exports include insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectors, fabrics: knitted or crocheted fabrics, other than those of headings 60.01 to 60.04, of cotton, dyed, iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling
- Import Dependencies: Key imports from Serbia include machinery: for filtering or purifying gases, other than intake air filters for internal combustion engines, vehicle parts: silencers (mufflers) and exhaust pipes: parts thereof, rubber: new pneumatic tyres, of a kind used on motor cars (including station wagons and racing cars)
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 $2.94B 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 Türkiye leveraging its comparative advantages in insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectors.
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
Türkiye's specialization in insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectorscomplements Serbia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in machinery: for filtering or purifying gases, other than intake air filters for internal combustion engines.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $2.94B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $2.94B 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 $2.94 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectors and machinery: for filtering or purifying gases, other than intake air filters for internal combustion engines demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Türkiye's trade surplus of $1.53 billion 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 Türkiye and Serbia represents a total trade volume of $2.94 billion in 2023. This partnership demonstrates a favorable trade balance for Türkiye, with exports exceeding importsby $1.53 billion.
Export Strengths
Türkiye's exports to Serbia total $2.24 billion, with competitive advantages in insulated electric conductors: for a voltage not exceeding 1000 volts, not fitted with connectors, representing $38.81M or1.7% of bilateral exports.
Import Dependencies
Imports from Serbia amount to $706.02 million, highlighting economic interdependence in machinery: for filtering or purifying gases, other than intake air filters for internal combustion engines, with Machinery: for filtering or purifying gases, other than intake air filters for internal combustion engines comprising9.3% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Türkiye'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 Türkiye and Serbia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023