Serbia’s merchandise exports to Italy reached approximately €2.01 billion during the first eight months of 2026, increasing Italy’s share of Serbian exports as automotive shipments strengthened bilateral industrial trade. According to official trade statistics, exports to Italy rose 49.2% year-on-year between January and August, substantially outpacing growth in shipments to Germany, Serbia’s largest individual export market.
Exports to Germany increased by 5.2% to €3.58 billion over the same period. Italy’s share of total Serbian exports consequently rose to 8.5%, from 6.2% a year earlier, while Germany’s share declined to 15.1%, compared with 15.6% in the corresponding period of 2025.
Automotive Shipments Support Trade with Italy
The National Bank of Serbia has associated the strong performance of exports to Italy with increased automotive shipments, highlighting the growing importance of vehicle manufacturing in bilateral trade.
The expansion comes alongside the broader increase in Serbia’s automotive exports, making the Italian market an increasingly significant destination for Serbian industrial goods. Germany nevertheless remained the larger export market by value, receiving €3.58 billion in Serbian goods compared with approximately €2.01 billion shipped to Italy.
Bilateral Trade Balance Remains Near Equilibrium
Serbian imports from Italy rose by 8.5% to €1.95 billion during January–August 2026. With exports reaching approximately €2.01 billion, Serbia recorded a bilateral goods trade surplus of around €62 million.
The different growth rates for exports to Italy and Germany illustrate how major industrial investments and production contracts can influence Serbia’s external trade structure. While Germany retained its leading position by export value, shipments to Italy expanded at a considerably faster pace.
Industrial Supply Chains and Logistics Exposure
Stronger trade links with Italy create potential business opportunities for Serbian automotive component manufacturers, engineering companies, logistics providers and industrial transport operators, as well as businesses supplying services to manufacturers.
The growing importance of the Italian market also exposes Serbian exporters to changes in vehicle demand and production orders. Significant adjustments in Italian manufacturing requirements could affect Serbian shipments, particularly where exports depend on individual automotive production programmes. The development of additional domestic suppliers and broader industrial relationships remains relevant to how Serbia builds on its expanding automotive trade with Italy.
