In 2025, EU direct import destinations for Serbian iron and steel differed from the EU’s largest overall markets under CBAM coverage, according to trade data. Poland, Czechia and Hungary were the leading direct markets for Serbian iron and steel, while Germany, Slovenia and France led imports of Serbian aluminium. The country rankings also show that EU-wide import patterns do not necessarily identify Serbia’s main buyers.
Central European markets lead direct Serbian iron and steel imports
EU imports from Serbia in the HS72 iron and steel category were valued at $640.7 million, or approximately €567 million at the 2025 average exchange rate of €1 = $1.1300. Poland was the biggest direct EU market, with imports worth €125.3 million. Czechia followed with €77.8 million and Hungary with €71.9 million.
Italy imported €53.4 million of Serbian HS72 goods, while Slovenia imported €10.0 million. Germany’s direct imports were €4.9 million, below what its prominence in Serbia’s broader bilateral exports might suggest. Bulgaria and Romania were also significant direct markets, but no import values were specified for either country.
EU-wide CBAM code rankings cover more than Serbia-specific purchases
The EU-wide ranking referenced in the data measures imports under CBAM codes from all extra-EU origins rather than Serbia-specific purchases. Italy accounted for 17.6% of the value in 2025, while Germany and the Netherlands each represented about 12.7%. The overall figures cover steel, aluminium, fertilisers, power and other goods.
HS72 is a chapter-level product category that includes goods such as ferrous scrap that are outside CBAM Annex I coverage. As a result, totals indicate trade orientation and a possible compliance pipeline but do not measure precisely the value of Serbia’s CBAM-liable sales. An eight-digit Combined Nomenclature match is needed to determine whether an individual delivery is covered.
Germany, Slovenia and France lead direct Serbian aluminium imports
EU imports from Serbia in the HS76 aluminium and articles category totalled $505.7 million in 2025, or approximately €448 million using the same exchange rate of €1 = $1.1300. Germany was the largest direct reporting market at €75.0 million, followed by Slovenia at €72.2 million and France at €64.0 million.
Poland imported €25.4 million of Serbian aluminium, while Hungary imported €14.3 million and Italy imported €12.1 million. Czechia’s imports were €6.0 million. Croatia and Romania also followed among destinations after the top three, but no values were specified for them.
Customs destination does not show where materials are ultimately used
The direct-import figures are indicative euro conversions of US-dollar trade values using the 2025 average exchange rate of €1 = $1.1300. HS76 is also a chapter-level product category that includes goods such as aluminium scrap that are outside CBAM Annex I coverage. The totals therefore do not precisely identify CBAM-liable deliveries without a detailed Combined Nomenclature match.
Customs clearance in a port or distribution hub does not establish where a material is ultimately consumed within an industrial supply chain. The importer of record may be a merchant or service centre rather than the final industrial customer, and customs-related costs may be paid by an entity that is not the purchaser determining long-term competitiveness.
A Serbian steel coil entering Poland could later be rolled, coated or shaped for machinery sold in Germany. Aluminium reported at Slovenia’s border could be shipped onward as a semi-finished product or processed in several countries, so reporting-country totals do not identify final customers.
Contract chains and CBAM roles depend on declarant and technical specifications
The direct-import pattern points to manufacturing and distribution clusters in central Europe rather than showing that the largest EU customs markets buy every Serbian product covered by these categories. Steel suppliers are directed toward engagement with buyers and processors in Poland, Czechia and Hungary based on the leading direct markets for HS72 goods.
For aluminium, contract chains are indicated as prioritisation targets in Germany, Slovenia and France based on their leading direct reporting positions for HS76 imports. Exporters need to identify both the party legally responsible for CBAM as the declarant and the industrial customer that controls technical specifications.
If importers use conservative default emissions values while awaiting verified plant information, purchase prices could include a carbon premium greater than actual producer emissions would justify under CBAM-linked calculations described in the data context. Documented production and emissions information that travels with the goods can help exporters defend market share.
Elevated by CBAM.Clarion Engineer