Goods trade between the United States and Serbia rose from $490.8 million in 2019 to $1,157.9 million in 2025, according to the U.S. Census Bureau, and it grew in every one of those years. For a relationship that rarely receives attention in Washington, that is a notable change.
The composition of that growth is less balanced. Almost all of the growth came from American purchases of Serbian goods. U.S. imports from Serbia rose from $340.1 million to $944.2 million, while U.S. exports to Serbia grew only from $150.7 million to $213.7 million, and they remain below their 2022 level of $246.5 million. By 2025, imports made up 81.5% of two-way trade.
That imbalance reflects real strengths on the Serbian side. Automobiles, tires, and rubber products lead U.S. imports from Serbia, the result of years of foreign investment in export manufacturing. It also points to an underused opportunity for American exporters. Serbia imports aviation equipment, machinery, pharmaceuticals, and chemicals from the United States, and its trade agreements make it a gateway to a wider regional market.
The first half of 2026 shows a change in direction. U.S. imports from Serbia fell 18.7% compared with the same period of 2025, while U.S. exports rose 34.4%. Six months of data can be moved by a handful of large shipments, so it would be a mistake to treat this as a new trend. But the timing coincides with repeated changes in U.S. tariff policy, and Serbia's leading exports to the United States are exactly the kinds of goods most exposed to those changes.
For companies, the totals are less useful than the composition. Serbian exporters concentrated in tariff-sensitive categories should verify duty treatment and diversify. American companies should notice that the export side of the relationship has room to grow. Both should expect the relationship to require active management.