Serbia (SRB) and Belgium (BEL) Trade | The Observatory of Economic Complexity

About

Serbia-Belgium In 2022, Serbia exported $311M to Belgium. The main products that Serbia exported to Belgium are Frozen Fruits and Nuts ($55.5M), Insulated Wire ($28.5M), and Packing Bags ($21.9M). During the last 16 years the exports of Serbia to Belgium have increased at an annualized rate of 7.96%, from $91.3M in 2006 to $311M in 2022.

In 2019, Serbia exported services to Belgium worth $213M, with Transportation ($96.3M), Other business services ($67.2M), and Travel ($19M) being the largest in terms of value.

Belgium-Serbia In 2022, Belgium exported $553M to Serbia. The main products that Belgium exported to Serbia were Vaccines, blood, antisera, toxins and cultures ($52.3M), Ethylene Polymers ($32.3M), and Packaged Medicaments ($32.1M). During the last 16 years the exports of Belgium to Serbia have increased at an annualized rate of 6.61%, from $199M in 2006 to $553M in 2022.

In 2022, Belgium did not export any services to Serbia.

Comparison In 2022, Serbia ranked 36 in the Economic Complexity Index (ECI 0.75), and 70 in total exports ($30.3B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Serbia exported $311M to Belgium. The main products exported from Serbia to Belgium were Frozen Fruits and Nuts ($55.5M), Insulated Wire ($28.5M), and Packing Bags ($21.9M). During the last 16 years the exports of Serbia to Belgium have increased at an annualized rate of 7.96%, from $91.3M in 2006 to $311M in 2022.

In 2022, Belgium exported $553M to Serbia. The main products exported from Belgium to Serbia were Vaccines, blood, antisera, toxins and cultures ($52.3M), Ethylene Polymers ($32.3M), and Packaged Medicaments ($32.1M). During the last 16 years the exports of Belgium to Serbia have increased at an annualized rate of 6.61%, from $199M in 2006 to $553M in 2022.

Exports from Serbia () to Belgium () (2022)

Exports from Belgium () to Serbia () (2022)

Latest Data

Trade between Serbia () and Belgium ()

Serbia Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Serbia
Top DestinationGermany$4B

Belgium
Top DestinationGermany$91.9B

This map shows whether countries import more from Serbia or Belgium. Each country is colored based on the difference in imports they receive from Serbia and Belgium or the difference in the growth in imports.

In 2021, countries that imported more from Serbia than Belgium were Bosnia and Herzegovina ($2.14B), Montenegro ($1.15B), and North Macedonia ($1.03B).

In 2021, countries that imported more from Belgium than Serbia were Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

Difference in imports from Belgium () and Serbia () (2022)

Comparative Advantage Serbia - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Serbia and Belgium by product, considering products traded by both, Serbia and Belgium.

During 2022, Serbia had a large net trade with Belgium in the exports of Vegetable Products ($66.7M), Machines ($57.9M), and Textiles ($31.5M).

During 2022, Belgium had a large net trade with Serbia in the exports of Chemical Products ($146M), Plastics and Rubbers ($97.8M), and Machines ($81M).

Service Trade

Bilateral Service Trade

Srb Year

In 2019, Serbia exported services to Belgium worth $213M, with Transportation ($96.3M), Other business services ($67.2M), and Travel ($19M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Serbia () to Belgium () (2019)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Serbia has comparative advantage over Belgium. Similarly, the more yellow a dot/product is, the more Belgium has comparative advantage over Serbia.

About

Historical Data

Bilateral Trade by Products

Exports from Serbia () to Belgium () (2022)

Exports from Belgium () to Serbia () (2022)

Latest Data

Trade between Serbia () and Belgium ()

Serbia Exports

Belgium Exports

Market Competitiveness

Difference in imports from Belgium () and Serbia () (2022)

Comparative Advantage Serbia - Belgium

Service Trade

Bilateral Service Trade

Services Exports from Serbia () to Belgium () (2019)

Economic Complexity

Competitive Landscape

Product Space of Serbia () and Belgium () (2022)

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