Accession of Croatia to the European Union and its consequences to Serbian foreign trade
Accession of Croatia to the European Union and its consequences to Serbian foreign trade

Summary/Abstract: The objective of the paper is to analyze economic (financial and foreign-trade diversion) consequences on Serbia by the accession of Croatia to the EU (European Union). The accession of Croatia to the EU in July 2013 has significantly changed the trade flows among the Balkan nations due to its abandoning of the CEFTA membership. This diverted foreign-trade flows among the remaining members of the CEFTA agreement, and will have the financial and macro-economic consequences examined in details in the paper, with special attention on financial and foreign trade diversion of Serbia, as well as the structure of export and import. (Since 2012 the Serbia-Croatia foreign trade in goods has been 699.7 million EUR, out of which 417.9 million EUR of Croatian export of goods to Serbia were mostly industrial products, and 281.8 million EUR of Serbian export to Croatia were mostly agricultural and processed-food products).

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