Economic potential of agro-food production in the Republic of Serbia

Abstract

This research conducted a structural and analysis of the foreign trade position of the Republic of Serbia, with special emphasis on agricultural and food products, in order to provide detailed information regarding current trends, measuring the level of comparative advantage and international position in the world and European markets. The obtained results indicate the elements that have a limiting effect on the development of this type of production. Using the RCA Index methodology and the Lafay's Index, the link between the food industry and the character of industrial exchange was established, which is measured by the Grubel Lloyd's Index. The structure of exports was analyzed from the aspect of factor intensity, so the existence of negative values of a comparative advantage and intensive goods was confirmed. Finally, we believe that the results obtained have contributed to the unraveling of available instruments, the eventual efficient use of which would help rural development, and thus the overall economic development of the Republic of Serbia.

Keywords

• competitiveness
• trade structure
• comparative advantage
• rca
• lafay's and gl index