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Geoeconomic Fragmentation in the Western Balkans

Author

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  • Tamas Ginter

    (Magyar Nemzeti Bank, Andrassy University Budapest)

Abstract

Geoeconomic fragmentation has become one of the timeliest topics in international economics. This paper focuses on geoeconomic fragmentation in the Western Balkans by applying a descriptive analysis of trade flows with each of the region's major trading partners between 2010 and 2023. In addition to painting a detailed picture of the trading partner structures of the economies in the region, I examine whether geoeconomic fragmentation (growing trade within a geopolitical bloc) can be identified. I find that the Western Balkans trades predominantly with the EU and intraregionally. Trade patterns with Russia and China show mixed signs, and there are no clear signs of geoeconomic fragmentation. Thus, this paper supports the literature stating that so far in Central, Eastern and Southeastern Europe, geoeconomic fragmentation has rather been a possible policy narrative than an economic reality.

Suggested Citation

  • Tamas Ginter, 2025. "Geoeconomic Fragmentation in the Western Balkans," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 24(2), pages 27-46.
    • Handle: RePEc:mnb:finrev:v:24:y:2025:i:2:p:27-46
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    More about this item

    Keywords

    geoeconomic fragmentation; trade fragmentation; Western Balkans;
    All these keywords.

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • F6 - International Economics - - Economic Impacts of Globalization

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