IInternational Trade Relations of the CEFTA 2006 Countries
International Trade Relations of the CEFTA 2006 Countries

Author(s): Marko Tomljanović, Igor Cvečić, Ana Malnar
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Summary/Abstract: The research aims to analyse the international trade relations of CEFTA-2006 countries. The research is based on secondary data obtained from the World Bank database and covers the period 2010-2022. The analysis includes key indicators of international trade, such as: (1) indicators showing the importance of foreign trade for the national economy; and (2) indicators of international trade that focus on competitiveness and the benefits of participation in international trade. The research identified a significant import dependence of the assessed group of countries, where the EU was identified also as a major trading partner. The results show that significant gains have been achieved, although international competitiveness has stagnated, which is particularly evident in the export of high-tech products. As the process of European integration intensifies, the CEFTA-2006 countries need to find more efficient ways to increase competitiveness and invigorate the convergence process, especially through reforms that could boost economic progress and further integration.

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