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Economic Performance of Agroindustry in AP Vojvodina

Katarina Đurić[1], Radivoj Prodanović[2], Miroslav Čavlin[3], Mirjana Lukač Bulatović[4]
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Paper Received: 24.03.2020.
Paper Accepted: 12.05.2020.
DOI: 10.5937/Oditor2002007D

Original scientific paper

UDC:
338.43(497.113)
JEL: O13, P32, Q13

Summary:

The paper aims to review and analyze the important economic performance of the agro-industry in AP Vojvodina, to identify the challenges it faces and to propose guidelines for further development.
The results indicate that the state of the primary agricultural sector of AP Vojvodina is unsatisfactory. Low level of specialization of households and low average possession are key factors behind the sector’s lag. The economic size of agricultural holdings is relatively small with an average of around € 8,953.3, and about three times smaller than in the EU-28.
The food industry has a significant share of GDP and has a surplus in foreign trade. The downside is that imports are increasing disproportionately to exports of agri-food products. The food industry recorded a decline in the observed period (2018/2017), both at the republic and provincial levels, by 2.3% and 4.8%, respectively.
Increasing investments, ensuring more stable market conditions and higher subsidies to primary agricultural production with the transfer of new technologies and introducing quality standards would contribute to the stabilization and better economic performance of the primary, implicit and food sectors.
Key words: economic performance, agro-industry, AP Vojvodina.

[1] Associate Professor, PhD Katarina Đurić, University of Novi Sad, Faculty of Agriculture, Trg Dositeja Obradovića 8, Novi Sad, Serbia, Phone: +381 21 485 33 93, E-mail: katarina.djuric@polj.uns.ac.rs
[2] Assistant Professor, Radivoj Prodanović, PhD, University of Business Academy in Novi Sad, Faculty of Economics and Engineering Management in Novi Sad, Cvećarska 2, Novi Sad, Serbia, Phone: +381 21 400 484 / lokal 112, E-mail: rprodanovic@fimek.edu.rs
[3] Full Professor, Miroslav Čavlin, PhD, University of Business Academy in Novi Sad, Faculty of Economics and Engineering Management in Novi Sad, Cvećarska 2, Novi Sad, Serbia, Phone: +381 21 400 484, E-mail: cmiros@gmail.com
[4] Associate Professor, PhD Mirjana Lukac Bulatovic, University of Novi Sad, Faculty of Agriculture, Trg Dositeja Obradovića 8, Novi Sad, Serbia, Phone: +381 21 4853 331, E-mail: lmirjana@polj.uns.ac.rs