ANALYSIS OF TRADE EFFICIENCY IN SERBIA BASED ON THE PROMETHEE METHOD

Abstract

Various methods of multi-criteria optimization have been developed and have recently been widely applied in trade. With this in mind, this paper investigates the efficiency of trade in Serbia based on the Promethee method. Using this method, in relation to the analysis of the analysis, we can more accurately assess the efficiency of trade in Serbia in the function of improvement in the future by taking appropriate more efficient measures. The results of research obtained using the Promethee method show that the efficiency of trade in Serbia has been continuously increasing recently. It was the best in 2020. It was positively influenced by numerous macro and micro factors, such as: favorable economic climate, low inflation, lower interest rates, foreign retail chains, increased employment, increased living standards, stable exchange rate, digitalization of the entire business, etc. The impact of the Covid-19 coronary virus pandemic on trade efficiency in Serbia is negligible. It is, among other things, largely neutralized with the increase in electronic sales. This is the case in other countries as well (as evidenced by the recently published available empirical data of Eurostat for European Union distribution trade). Empirical research shows that this is not, however, the case with other sectors in Serbia, such as transport and storage, tourism and catering, banks, etc. To increase (or maintain the existing) efficiency of trade in Serbia in the future, it is necessary to improve the efficiency of management of human resources, assets, capital, sales and profits. The main problem is that there are no similar empirical studies of trade efficiency in other countries, which limits international comparison. This paper can therefore serve as an impetus for future similar empirical research.