The Economic Effects of Serbian Neutrality in the Ukrainian Crisis: Risks and Benefits

Stanojević, Nataša (2024) The Economic Effects of Serbian Neutrality in the Ukrainian Crisis: Risks and Benefits. Ekonomski signali, 19 (2). pp. 19-40. ISSN 1452-4457

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Abstract

The article explores and evaluates the dangers, advantages, opportunities, and risks for the Serbian economy stemming from its neutral stance in the Ukrainian crisis. Methods employed include content analysis of documents and official announcements, statistical description, analysis, and comparison of data. The research revealed an anticipated uptick in Serbia’s trade with Russia, attributed to its lower energy prices. This led to increased production in various sectors, such as machinery, motor vehicles, and the electrical industry. Contrary to expectations, trade with the EU not only increased but also improved structurally, particularly in higher-value goods exports. Recommendations advocate for internal resource investment in EU-threatened industrial sectors, specifically in bolstering production of products witnessing export growth.

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