Serbia’s trade within CEFTA since the outbreak of the 2008 crisis

Branković, Aleksandra and Jovičić, Elena (2014) Serbia’s trade within CEFTA since the outbreak of the 2008 crisis. In: Contemporary trends and prospects of economic recovery. CEMAFI International Association, Nice, pp. 658-672. ISBN 978-2-9544508-5-8

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Abstract

This paper aims to analyse recent trends in commodity trade between Serbia and other members of the Central European Free Trade Area (CEFTA). Particular emphasis is put on the changes that occurred in the aftermath of the 2008 crisis, which affected Serbia pretty adversely. The structure and changes in commodity trade between Serbia and other CEFTA members have not been excessively analysed in the existing literature. Therefore, our intention was to thoroughly examine the changes in the dynamics and pattern of such trade, in terms of the total commodity trade, by key product groups, and also major tendencies related to individual partners from CEFTA. We found not only that the relative significance of intra-CEFTA trade for Serbia has been decreasing since the outbreak of the crisis, but also that the values of both exports and imports (denominated in US$) with CEFTA decreased in real terms over the 2008-2013 period.

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