Oditor, Vol. VI, No. 02/2020
ECONOMIC PERFORMANCE OF AGROINDUSTRY IN AP VOJVODINA
Katarina Đurić, Radivoj Prodanović , Mirosalv Čavlin , Mirjana Lukač Bulatović ,
Date recieved: 24.03.2020.
Date accepted: 12.05.2020.
Original scientific work
JEL: O13, P32, Q13
The paper aims to review and analyze the important economic performance of the agroindustry 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 agrifood 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.