Contribution of food industry to economic development of Republic of Serbia and selected European countries
DOI:
https://doi.org/10.5937/bizinfo2301099B%20%20Keywords:
food industry, macroeconomic indicators of economic development, Republic of SerbiaAbstract
The food industry represents an important segment of the food system, whose main role is to ensure that the population's nutritional needs are met. The subject of research in the paper is the analysis of the importance of the food industry in the economic development of the Republic of Serbia in the period 2016-2020. year. The aim of the research is to compare the contribution of the food industry to economic development in the Republic of Serbia and certain European countries based on selected indicators. In addition to general scientific methods, in the paper are applied mathematical and statistical methods for calculating selected indicators and a comparative method for comparing them. The food industry of the Republic of Serbia participates with over 22% in the gross added value of the processing industry. About 3,300 companies that employ over 100,000 people, which makes up almost 5% of the total number of employees, are engaged in the production of food products and beverages. The share of agricultural and food products in the foreign trade of the Republic of Serbia is around 20% in exports and 8% in imports. By comparing the obtained results with the same indicators in selected European countries, it was found that the food industry in the Republic of Serbia plays a significant role in economic development and that its contribution is higher compared to the contribution in most of the analyzed countries, which is conditioned by the level of overall economic development of the country, as and naturally given resource base.
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