EXPORT PERFORMANCE AND INTRA-INDUSTRY TRADE OF THE ECONOMIES OF THE BLACK SEA REGION
Keywords:
International Trade, Balassa Index, Black Sea region.Abstract
In this paper the characteristics of international trade of the Black Sea Region economies and the European Union are examined. By using the relevant trade indices we examine the extroversion, the openness and the competitive advantage of the countries of the region in the international trade. Extroversion and export performance has deteriorated for the majority of the countries of the region. The examination of relevant trade indices (as the Balassa Index), show that the majority of the exporting products of the Black Sea Region refer to the low, and medium-low technology category, where they have the comparative advantage compared to the European Union. The need for a policy that would actively encourage the development of further trade and economic relationships between EU and the other countries of the region is highlighted.
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