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Analysis of the Trade Performance of the European Union and Serbia on the Base of FF-WASPAS and WASPAS Methods

Author

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  • Radojko LUKIC

    (University of Belgrade Faculty of Economics, Belgrade Republic of Serbia)

Abstract

In this paper, based on a multicriteria analysis, the trade performance of selective countries of the European Union and Serbia is reviewed. In this paper, based on a multicriteria analysis, the trade performance of selective countries of the European Union and Serbia is reviewed.According to the results of the FF-WASPAS method, Germany's trade ranks first in terms of performance. They are followed by: France, Italy, Hungary, Greece, Croatia, Slovenia, Austria, Serbia, Bulgaria and Romania. Croatia's trade performance is better than Slovenia's. According to the results of the FF-WASPAS method, Serbia is in a worse position than Croatia and Slovenia. According to the results of the classic WASPAS method, Germany's trade ranks first in terms of performance. Followed by: Italy, France, Greece, Romania, Bulgaria, Hungary, Austria, Serbia, Croatia and Slovenia. The leading countries of the European Union (Germany, France and Italy) are among the top five countries (along with Greece and Romania). Serbia is in a better position compared to Croatia and Slovenia. Numerous factors influenced the performance positioning of trade between the European Union and Serbia: economic climate, foreign direct investments, asset management, new business models (multichannel sales, private label, sales of organic products), new concepts of cost, sales and profit management (cost calculation by activity, customer management, product category management, etc.), the Covid-19 pandemic, the energy crisis, etc. A key factor is the digitization of the entire business. The target profit can be achieved by adequately controlling them.

Suggested Citation

  • Radojko LUKIC, 2023. "Analysis of the Trade Performance of the European Union and Serbia on the Base of FF-WASPAS and WASPAS Methods," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 24(2), pages 228-250, May.
    • Handle: RePEc:rom:rmcimn:v:24:y:2023:i:2:p:228-250
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    References listed on IDEAS

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    1. Pedro Alexandre Marques & Diana Jorge & João Reis, 2022. "Using Lean to Improve Operational Performance in a Retail Store and E-Commerce Service: A Portuguese Case Study," Sustainability, MDPI, vol. 14(10), pages 1-19, May.
    2. Nazli ERSOY, 2017. "Performance Measurement in Retail Industry By Using A Multi-Criteria Decision Making Methods," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 17(4), pages 539-551.
    3. Radojko LUKIC, 2022. "Analysis of Kosovo and Metohija Trade Performance," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 7(3), pages 379-391, October.
    4. Radojko LUKIC, 2022. "Measurement and Analysis of the Dynamics of Financial Performance and Efficiency of Trade in Serbia Based on the DEA Super-Radial Model," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 23(5), pages 630-645, December.
    5. Radojko LUKIC, 2022. "Application of the MARCOS Method in Analysis of the Positioning of Electronic Trade of the European Union and Serbia," Informatica Economica, Academy of Economic Studies - Bucharest, Romania, vol. 26(3), pages 50-63.
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    Cited by:

    1. Radojko LUKIC, 2024. "Economic Performance of the Economy of Kosovo and Metohija," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 9(1), pages 120-137, February.
    2. Radojko Lukic, 2023. "Application Of Dibr And Mairca Methods In The Evaluation Of The Economic Performance Of The Economy Of Bosnia And Herzegovina," Economic Review: Journal of Economics and Business, University of Tuzla, Faculty of Economics, vol. 21(1), pages 53-64, May.

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    More about this item

    Keywords

    efficiency; costs; income; profit; trade; European Union; Serbia; determinants;
    All these keywords.

    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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