China and Serbia
China and Serbia combine infrastructure and trade cooperation with close political contacts. Connectivity and cultural exchanges complement major economic projects.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08History and institutional framework
Aleksandar Vučić's visit to China in May 2026 included more than twenty cooperation documents on politics, the economy, technology, education, justice and culture.
What merchandise trade shows
In 2025, goods trade between China and Serbia totalled 6,473.4 million current USD.
Documented trade sectors
Within the selected chapters, machinery and mechanical appliances stands out in shipments from China to Serbia, at 1,106.2 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 6,473.4 M USD | 2025 · UN Comtrade / CHN |
| Goods: China to Serbia | 4,132.42 M USD | 2025 · UN Comtrade / CHN |
| Goods: Serbia to China | 2,340.98 M USD | 2025 · UN Comtrade / CHN |
| Services trade | ||
| Export share: China to Serbia | 0.109 % | 2025 · UN Comtrade / CHN |
| Export share: Serbia to China | ||
| Investment stock: China in Serbia | ||
| Investment stock: Serbia in China |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade / CHN · Goods; full year; CHN reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: China to Serbia
- 2025 · UN Comtrade / CHN · Goods; full year; CHN reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Goods: Serbia to China
- 2025 · UN Comtrade / CHN · Goods; full year; CHN reporter. Exports normally FOB and imports CIF according to the reporter's coverage. No addition of mirror reports.
- Export share: China to Serbia
- 2025 · UN Comtrade / CHN · Goods share: CHN exports to the partner / the same reporter's exports to the world, same year.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | China | Serbia |
|---|---|---|
| Nominal GDP | 19.5 trillion USD2025 · WB | 99.95 billion USD2025 · WB |
| GDP per capita | 13,861.97 USD2025 · WB | 15,262.05 USD2025 · WB |
| GDP growth | 4.96 %2025 · WB | 2.03 %2025 · WB |
| Policy interest rate | 1.4 %2026-09-24 · PBoC | |
| Inflation · annual average | 0.06 %Annual average · 2025 · WB | 3.89 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 0.8 %Year-on-year · Aug. 2026 · NBS China | |
| Unemployment | 4.62 %ILO est.2025 · WB | 7.12 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -7.9 %IMF est.2025 · IMF | -2.2 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 99.2 %IMF est.2025 · IMF | 42.4 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 3.77 %2025 · WB | -4.9 %2025 · WB |
| Population | 1,406,585,0002025 · WB | 6,549,143World Bank est.2025 · WB |
| Area | 9,562,910 km²2023 · BM / FAO | 84,990 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDChina: 2025 · World BankSerbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP per capita
- Current USD per personChina: 2025 · World BankSerbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP growth
- Annual real change (%)China: 2025 · World BankSerbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Policy interest rate
- Central bank instrument (%)China: 2026-09-24 · PBoC: 7-day reverse repo · People’s Bank of China · Published: 2026-09-24 · Rate of the official operation consulted, not the mortgage LPR or the PSL lending rate. Subsequent operations with zero volume are not converted into a 0% interest rate.
- Inflation · annual average
- Average annual change in headline CPI (%)China: 2025 · Average annual CPI change (%) · World BankSerbia: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series. Observation year, not download date.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedChina: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · National Bureau of Statistics of China · Published: 2026-09-09 · National headline year-on-year CPI, not monthly inflation or an annual average.
- Unemployment
- % of the labour force; definition used by the stated institutionChina: 2025 · World Bank · ILO est.Serbia: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.
- Budget balance
- General government (% of GDP)China: 2025 · IMF — World Economic Outlook · IMF est.Serbia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)China: 2025 · IMF — World Economic Outlook · IMF est.Serbia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPChina: 2025 · World BankSerbia: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Population
- PeopleChina: 2025 · World BankSerbia: 2025 · World Bank · World Bank est. · Extrapolated estimate identified by the World Bank; not a census for the reference year.
- Area
- Total area in km²; territorial coverage of the sourceChina: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOSerbia: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
China to Serbia
| Product or sector | Value / share |
|---|---|
| Machinery and mechanical appliances | 1,106.2 M USD2025 · Source |
| Electrical and electronic equipment | 1,094.8 M USD2025 · Source |
| Vehicles and components | 302.5 M USD2025 · Source |
| Mineral fuels and oils | 11.3 M USD2025 · Source |
| Pharmaceutical products | 9.4 M USD2025 · Source |
| Dairy products, eggs and honey | 0.0137 M USD2025 · Source |
Serbia to China
| Product or sector | Value / share |
|---|---|
| Metal ores | 1,572.2 M USD2025 · Source |
| Electrical and electronic equipment | 89.6 M USD2025 · Source |
| Machinery and mechanical appliances | 27.1 M USD2025 · Source |
| Vehicles and components | 12.3 M USD2025 · Source |
| Meat and edible offal | 0.139 M USD2025 · Source |
| Dairy products, eggs and honey | 0.0531 M USD2025 · Source |
| Mineral fuels and oils | 0.00158 M USD2025 · Source |
| Pharmaceutical products | 0.000038 M USD2025 · Source |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | China to Serbia | Serbia to China |
|---|---|---|---|
| 2021 | 3,214.4 | 2,230.9 | 983.5 |
| 2022 | 3,551.9 | 2,176.8 | 1,375 |
| 2023 | 4,351.7 | 2,699.2 | 1,652.4 |
| 2024 | 5,739.1 | 3,445.7 | 2,293.4 |
| 2025 | 6,473.4 | 4,132.4 | 2,341 |
Connections between people
Documented contacts cover youth, education, sport, culture and tourism, alongside collaboration between subnational entities. The 2025 friendship celebrations programme is a cultural antecedent distinct from visitor or resident statistics. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from China living in Serbia | ||
| Residents from Serbia living in China | ||
| Study and training: China in Serbia | ||
| Study and training: Serbia in China | ||
| Academic stays: China in Serbia | ||
| Academic stays: Serbia in China | ||
| Travel: China to Serbia | ||
| Travel: Serbia to China |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
Aleksandar Vučić's visit to China in May 2026 included more than twenty cooperation documents on politics, the economy, technology, education, justice and culture. The Chinese statement describes transport and energy work within the Belt and Road framework, alongside new priorities in artificial intelligence, the digital economy and advanced manufacturing. [1] [2]
The scale of both economies
Nominal GDP for China is 19,498 billion USD (2025), compared with 100 for Serbia (2025). The reference populations are 1,406.59 and 6.55 million, respectively. In the same year, the economy of China was 195.07 times that of Serbia in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [6] [7] [8] [9]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
Announced priorities do not prove that all projects are completed. The source connects human contacts with visas, trade and direct flights; political praise is attributed to the respective governments, not converted into measured economic facts. [1] [2]
What merchandise trade shows
In 2025, merchandise trade between the two countries (China and Serbia) totalled 6,473.4 million current USD. Shipments from the first to the second were 4,132.4 million; those in the opposite direction, 2,341 million. The difference between the two flows was 1,791.4 million, in favour of China. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [3]
The partner's share of exports
Sales from China to the partner represented 0.109% of its worldwide goods exports in 2025. The share compares the same reporter, year and coverage. It measures export concentration, not the percentage of GDP dependent on this relationship. A partner may be important in a specific sector even if its share of total goods trade is small. [3]
Five years of trade trends
The consistent series shows 3,214.4 million USD in 2021 and 6,473.4 million in 2025. The change between the two endpoints was +101.4 % in current dollars. The highest annual value in the period was recorded in 2025, at 6,473.4 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [4]
Documented trade sectors
Within the selected chapters, machinery and mechanical appliances stands out in shipments from China to Serbia, at 1,106.2 million USD in 2025. Within the selected chapters, metal ores stands out in shipments from Serbia to China, at 1,572.2 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [5]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — CHN-SRB
www.fmprc.gov.cn · Institutional source · Accessed: 2026-10-08
- Bilateral relations — CHN-SRB
www.srbija.gov.rs · Institutional source · Accessed: 2026-10-08
- Annual TOTAL X/M; 2025; reporter 156; partners 0,688
UN Comtrade / CHN · Institutional source · Accessed: 2026-10-08
- Trade series 2021–2025
UN Comtrade / CHN · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade; reporters BRB, BRN, BTN, CHL, CHN, COL · Institutional source · Accessed: 2026-10-08
- Official statistics
World Bank · Institutional source · Accessed: 2026-09-17
- NY.GDP.MKTP.CD; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-06
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade; reporters BRB, BRN, BTN, CHL, CHN, COL
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.