Analysis of the trade relations between the countries being part of the Open Balkan initiative

Miteva-Kacarski, Emilija and Cabuleva, Kostadinka and Gorgieva-Trajkovska, Olivera (2022) Analysis of the trade relations between the countries being part of the Open Balkan initiative. Journal of Economics, 7 (2). pp. 40-47. ISSN 1857-9973

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Abstract

This paper's objective is to identify the sectors in which the Republic of North
Macedonia has a comparative advantage regarding its export to other countries that are
part of the Open Balkan initiative. The revealed comparative advantage of the Republic
of North Macedonia in relation to the Republic of Serbia and the Republic of Albania
was calculated for the time period of 2011-2020 by having used the Standard
International Trade Classification, Revision 4 (SITC, Revision 4). The quantitative
methods that were used during the research are the following: the Index of Trade
Openness (ITO), the Trade Balance Index (TBI), and the export index of Revealed
Comparative Advantage (Balassa’s RCA). The results of the research point to the fact
that regarding the case of the Republic of North Macedonia, a high index of trade
openness was registered in comparison to the other countries being part of the Open
Balkan initiative. Furthermore, the Trade Balance Index shows that in the course of the
analyzed period, the Republic of North Macedonia had been continuously present in the
capacity of a net exporter of products of the category of tobacco and beverages,
whereas the RCA index indicates positive values in the category of the food sector,
beverages and tobacco, crude materials, except fuels as well as animal and vegetable
oils, fats and waxes.

Item Type: Article
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Emilija Miteva
Date Deposited: 01 Nov 2022 10:16
Last Modified: 01 Nov 2022 10:16
URI: https://eprints.ugd.edu.mk/id/eprint/30408

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