ANALYSES OF THE TRADE RELATIONS BETWEEN THE REPUBLIC OF MACEDONIA AND THE REPUBLIC OF BULGARIA
Keywords:
The Republic of Macedonia, The Republic of Bulgaria, foreign trade, comparative advantage, Balassa IndexAbstract
Bulgaria is an important trading partner of the Republic of Macedonia. The trade exchange between the Republic of Macedonia and the Republic of Bulgaria is at an enviable level. Taking into account this fact, in this paper it has been made an analysis of the value, dynamics and structure of the foreign trade between the Republic of Macedonia and Bulgaria for the time period of 2006-2015. It has been also analyzed the competitiveness of Macedonian products at the Bulgarian market so that the product categories with a comparative advantage can be determined, using the Standard International Trade Classification and the Balassa Index. The results of the analysis point to the fact the Republic of Macedonia has a comparative advantage in the export of crude materials, except fuels, chemical and related products and beverages and tobacco.
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