The authors of this paper analyze export and competitiveness of wine export from the Republic of Serbia. Main goal of the research reflects in perceiving basic features of export and competitiveness of wine export from the Republic of Serbia on international market. The analysis encloses time period 2004-2007. The amount of wine export is very modest and, in observed period, was realized average export of 8,6 million litres, which value amounts 9,6 million USD. Only 5% of total domestic production is exported. In export structure dominate CEFTA agreement signatory countries. Export price of wine from Serbia is doubly less in regard to average world price, and thrice in regard to the biggest world exporter – Italy. Average export price of wine produced in Serbia is on the level of 1,11 USD per litre. The export structure is very unfavourable, i.e. dominates wine in bulk (90%), while only 10% of total export makes wine in bottles, which, for sure, reflects to attained export price. The authors quote that main limitation factors of Serbian wine export are small surfaces under grapevine, inappropriate structure of production, i.e. lack of qualitative and top-class (famous) wines. The wines which produce in Serbia, on international market, are competitive by price. However, low quality represents limitation factor of competitiveness increase. Unfavourable production structure and wine export represents one more limitation factor of competitiveness increase. In total wine production in Serbia, top-class wines participate with less than 15%, participation of qualitative wines is 20%, while the higher participation, more than 65%, have table wines, and more produces white (64%) than rose wines (36%). Previously mentioned is in opposition with demand trends on international market. Along with quality increase and change of production and export structure, there can be expected also increase of Serbian wine prices on international market. Analyzing the world turnover of wine, the authors resolve that leading exporters of wine have developed production and long tradition in wine export. Besides, there are series of governmental stimulations, aiming at export increase, which is significant from aspect of competitiveness increase. The European Union has increased wine export quota from 55 to 63 thousand hectolitres to the Republic of Serbia for duty free export, and mentioned decision on export quotas increase represents an incentive for faster development of viticulture and wine production in Serbia. As an imperative, the authors quote increase of high-quality wines participation in export, which have higher price in regard to table wines. They find that own chance for export must not be looked-for in quantity, because Serbia is relatively small wine producer, concerning high quality according to selected market segments, but also that Serbia must leave the path of industrial wines and produces only high-quality wines. In this paper has been pointed out to necessary measures, aiming at more dynamic export and competitiveness increase of wine export from Serbia. The Authors find that main focus should be on intellectual capital, which means permanent education of producers, in order to get wines of the highest quality which will find their consumers in a competitive world market.