Custom Statistics: Trade between Finland and Serbia in 2021

Trade figures between Finland and Serbia remain at a moderate level. Looking at past 7 years, only in 2018 export of Finnish products had lower value compared to the imports from Serbia. Trade exchange values are growing from year to year. However, numerous opportunities exist for Finnish companies to improve current trade figures in Serbian market.

Trade figures between Finland and Serbia (January - December 2021)

Trade exchange in 2021 amounted to EUR 123.2 million, which is 29.6% increase, compared to 2020. Exports from Finland amounted to EUR 71.6 million, which is 27% increase compared to 2020. Imports to Finland amounted to EUR 51.6 million, which is 33.4% increase compared to 2020. The trade balance in 2021 was positive and trade surplus was EUR 20 million.

Main export commodities from Finland are: Machinery and mechanical parts (EUR 28.7 million); Plastics and articles thereof (EUR 10.8 million); Paper, paperboard and articles thereof (EUR 9.7 million); Vehicles and parts (EUR 6.2 million); Electric machinery and parts (EUR 5.1 million); Iron and steel (EUR 2.6 million); Medical instruments and apparatus (EUR 2.3 million); Wood and articles of wood (EUR 1.2 million).

Main import commodities to Finland are: Electric machinery and parts (EUR 15.4 million); Machinery and mechanical parts (EUR 10.5 million); Rubber and articles thereof (EUR 4.2 million); Footwear (EUR 3.3 million); Edible fruit and nuts (EUR 2.8 million); Plastics and articles thereof (EUR 1.9 million); Edible preparations (EUR 1.4 million); Apparel and clothing not knitted (EUR 1.1 million); Other textile articles (EUR 1.1 million); Medical instruments and apparatus (EUR 0.9 million); Apparel and clothing knitted (EUR 0.9 million).

Finnish machinery and mechanical parts had the strongest impact on Serbian market as products from this industry amounted to 40% of overall exports from Finland to Serbia. Plastics and articles thereof follow with 15%, as well as paper, paperboard and articles thereof with 13.5%. These three industries amount to 68.5% of the overall Finnish exports to Serbia.

Looking at the Finnish imports, Serbian electric machinery and parts amount to 29.8%, machinery and mechanical parts 20.3% and rubber and articles thereof 8.1%. These three industries amount to 58.2% of the overall Finnish imports from Serbia.

Source: Finnish Customs, International Trade Statistics toiselle verkkosivustolle)