Structural Changes in Foreign Trade as a Factor of Competitiveness of the Republic of Serbia

Abstract

Abstract The paper aims to analyse structural changes in foreign trade based on systematic statistical data as a factor of competitiveness of the Republic of Serbia. First, contemporary tendencies in international trade are analysed, where the value and volume of world trade are monitored, as well as key changes in the structure of world exports and imports in the observed period. By assessing the position of the Republic of Serbia in international trade, it is necessary to consider the extent to which the foreign trade of the Republic of Serbia adapts to the structural changes in world trade. Then, the structure of the merchandise exchange of the Republic of Serbia according to the purpose of the product is examined as well as the structure of the merchandise exchange according to sectors and commodity groups. Later in the paper, the achieved development of the industry is questioned, where the focus of the analysis is put on the quality of exports and the international competitiveness of the manufacturing industry, which in the Republic of Serbia produces most of the exchangeable goods. The last part of the paper deals with the analysis of the technological structure and factor intensity of Serbian goods exports. In this way, the research question is answered that there is a need for structural changes in production and foreign trade in the Republic of Serbia in order to improve its competitiveness.