REGIONAL COOPERATION AND ECONOMIC INTEGRATION

PART I:
in high technology sectors (precision instruments, chemical, vehicles). The analysis of
comparative advantages, intra-industry trade and trade specialization show a small number
of sectors with comparative advantages, as well as vertical specialization with high value
added exports. At first sight the unfavourable ratio on behalf of those sectors without
comparative advantage does not have to necessary lead to a conclusion about unfavourable
trade structures. It is to be expected for small countries that comparative advantages and
trade specialization will be found in a smaller number of sectors and products. However,
correlation analysis shows that products with a higher level of comparative advantage do
not have a higher ratio between the unit value of exports and imports (RUV). It points to
unfavourable trade patterns. Finally, the analysis of export similarities reveals the conclusion
that selected south-eastern European countries have complementary export structures.
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