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Significance And Comparative Advantages Of The Agrarian Sector In Serbian Foreign Trade

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  • Božić, Dragica
  • Nikolić, Marija M.

Abstract

The agrarian sector plays an important role for the overall economic development of Serbia as shown by the main macroeconomic indicators, including the contribution to equilibrium of payment and trade balance of the country. Serbia has a large trade deficit, therefore the agrarian sector, which is constantly (starting from 2005) achieving a positive trade balance, has an important role in overcoming the unfavourable condition of Serbian foreign trade. The share of this sector in Serbia’s total exports is increasing and in recent years exceeds 20 percent. The goal of this paper is to establish the importance of the agrarian sector in the total foreign trade of Serbia, as well as its comparative advantages on the markets of major trading partners (EU, CEFTA-2006 and some members, and countries in the neighbourhood) between 2004-2011. In the first part of the paper we analyse the importance and participation of the agrarian sector in the total foreign trade of the Serbian economy. The second part includes the basic flows, developing trends and the structure of foreign trade of the agrarian sector in Serbia by products and by most significant trading partners. Then, the revealed comparative advantage (RCA – Revealed Comparative Advantage) index, which was used for the analysis of the position and comparative advantages of the agricultural sector, is determined.

Suggested Citation

  • Božić, Dragica & Nikolić, Marija M., 2013. "Significance And Comparative Advantages Of The Agrarian Sector In Serbian Foreign Trade," 50th Anniversary Seminar, Agriculture and Rural Development -Challenges of Transition and Integration Processes, September 27, 2013 161766, University of Belgrade, Department of Agricultural Economics, Faculty of Agriculture.
  • Handle: RePEc:ags:ubgc50:161766
    DOI: 10.22004/ag.econ.161766
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    References listed on IDEAS

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    1. Bojnec, Štefan & Fertő, Imre, 2007. "Comparative advantages in agro-food trade of Hungary, Croatia and Slovenia with the European Union [Komparative Vorteile Ungarns, Kroatiens und Sloweniens im Handel von Agrar- und Ernährungsgütern ," IAMO Discussion Papers 106, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
    2. Fertő, Imre & Bojnec, Stefan, 2007. "Comparative Advantages in Agro-Food Trade of Central European and Balkans' Countries with the European Union," 100th Seminar, June 21-23, 2007, Novi Sad, Serbia and Montenegro 162388, European Association of Agricultural Economists.
    3. Thomas Vollrath, 1991. "A theoretical evaluation of alternative trade intensity measures of revealed comparative advantage," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 127(2), pages 265-280, June.
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    International Development; International Relations/Trade;

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