Export and foreign trade competitiveness in the Republic of Macedonia
Export and foreign trade competitiveness in the Republic of Macedonia

Summary/Abstract: Competitiveness is one of the most popular concepts in contemporary macroeconomics. Having a competitive advantage on the targeted market means higher profit on a micro level and higher growth and living standard on a macro level. Competitive advantage is one of the key instruments for faster integration of the national economy in the global market that, in turn is expected to lead to higher exports and higher overall growth and long-term prosperity of the national economy. External trade and integration in the world market are especially important for small and open economies such as the Republic of Macedonia. Domestic companies will need to internationalize their production and business activities in order to be able to sell and to compete on the world market. The goal of this study is to provide insight about the competitive position of the Macedonian economy, to identify some of the weakness in this area and to propose some guidelines for the policy makers. Today, economy with competitive advantages and strong external sector can withstand the challenges of the constantly changing global environment, thereby providing strong economic growth and higher living standard for it citizens.

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