Germany bought about €75 million of Serbian aluminium and aluminium articles in 2025, while Slovenia bought €72 million, according to customs-trade figures. They were Serbia’s largest directly recorded EU markets for these products. As the EU Carbon Border Adjustment Mechanism (CBAM) brings emissions information into supplier specifications and price negotiations, Serbian exporters must address product-level data alongside alloy, gauge and surface quality.
EU imports of Serbian aluminium and aluminium articles under HS76 were valued at $505.7 million, or approximately €448 million, in 2025. France was the third-largest listed market, at €64 million, followed by Croatia at €36 million and Romania at €35 million. The figures cover aluminium and aluminium articles classified under HS76.
The product breakdown shows trade in processed metal as well as primary aluminium. EU imports included about €149 million of Serbian aluminium plate, sheet and strip under HS7606, and €79 million of containers under HS7612. They also included about €62 million of other articles under HS7616 and around €41 million of profiles under HS7604.
Customs markets and production links
The country figures identify markets where goods entered customs, not necessarily the factories that ultimately use the metal in construction systems, machinery or transport equipment. German and Slovenian processors can combine purchases and make components for customers in several EU markets. As a result, the customs destination may not identify the party setting the commercial terms.
Impol Seval, a major Serbian rolled-aluminium producer, reported about €89.7 million in export receipts in the first six months of 2025. The company named Germany, Italy and France among its key markets. Its disclosures indicate export demand and domestic rolling capacity, but do not establish that particular shipments went to vehicles, aircraft or branded consumer packaging.
CBAM reporting and emissions estimates
For EU purchasers, the aluminium cost passed through under CBAM depends, under current coverage, on direct embedded emissions, the production route, precursor inputs and verification. Electricity sourcing remains relevant to plant competitiveness and broader buyer sustainability requirements. However, indirect electricity emissions should not simply be added to the initial aluminium certificate calculation.
That distinction makes verified factory and batch-level data important, while suppliers also need to distinguish legal emissions reporting from voluntary low-carbon claims. A Serbian exporter may deal with a distributor that bears inventory risk and certificate exposure, while a separate manufacturing customer specifies the alloy and carbon information. This reflects the market context described in the trade data.
Serbia’s Ministry of Finance estimated the country’s aluminium exposure under CBAM at €19.5 million in 2026 and projected it to remain near that level through much of the projection period. The estimate assumes that 2025 exports remain fixed and uses default emissions values, the ministry said. Actual obligations could differ considerably as transaction patterns, verified factory emissions and EU certificate prices change.
The ministry’s model includes possible relief if EU authorities recognise carbon prices paid in Serbia, but such recognition is not automatic. Trade data indicate that suppliers able to allocate emissions to specific product batches, disclose consistently across trading entities, and demonstrate physical quality as well as documentary compliance may be better placed to maintain access to European manufacturing chains. Identifying which buyer or intermediary sets the commercial terms can be as important to exporters as knowing the customs destination; evidence from contracts or the supply chain would be needed to identify specific end customers.
Elevated by CBAM by Clarion Engineer