Foreign trade and comparative advantages of agrarian sector of Serbia and neighboring countries

Foreign trade of commodities of total economy of Serbia and countries in the region is characterized by a huge deficit. Small economies, such as these, are marked with significant trade openness that is result of their high import dependence. Agrarian sector has a high share in foreign trade of Serb...

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Bibliographic Details
Published in:Ekonomika poljoprivrede (1979) 2019-01, Vol.66 (3), p.737-753
Main Authors: Božić, Dragica, Nikolić, Marija
Format: Article
Language:English
Subjects:
agrarian sector
Cereals
Commodities
Common Agricultural Policy
Comparative advantage
Comparative analysis
Competition
Competitiveness
Dependence
Economic crisis
Economic growth
Economic theory
Exchanging
Exports
Food
Food production
Food products
Fruits
GDP
Global economy
Global marketing
Gross Domestic Product
Honey
Imports
Indexes
International trade
Liberalization
Macroeconomics
Markets
neighbouring countries
Regions
revealed comparative advantages
serbia
Tobacco
Trade
Transition economies
Vegetables
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Summary:Foreign trade of commodities of total economy of Serbia and countries in the region is characterized by a huge deficit. Small economies, such as these, are marked with significant trade openness that is result of their high import dependence. Agrarian sector has a high share in foreign trade of Serbia and neighbouring countries. Surplus in foreign trade exists only in Serbian agrarian sector, while the biggest trade deficit is recorded in Bosnia and Herzegovina, and the lowest level of foreign trade coverage (9%) in agrarian sector of Montenegro. Comparative analysis of competitiveness was conducted on the basis of the revealed comparative advantage index. Comparative advantage in the exchange of agro-food products of Serbia with the world is achieved in ten commodity divisions, and the most significant are: cereals; vegetables and fruits; sugar and honey, and in recent years, tobacco and tobacco products. In countries of the region, there is significantly less number of divisions of agro-food products that are competitive on global market.
ISSN:0352-3462
2334-8453
DOI:10.5937/ekoPolj1903737B