ANALYSIS OF THE TRADE RELATIONS BETWEEN THE REPUBLIC OF MACEDONIA AND RUSSIA

Abstract

Russia remains one of the most important economic partners of the Republic of Macedonia. The potential for economic cooperation between the Republic of Macedonia and Russia is huge. The size of the Russian market is a big challenge for Macedonian companies. Taking into account this fact, in this paper it has been made an analysis of the value, dynamics and structure of the foreign trade between the Republic of Macedonia and Russia for the time period of 2006-2013. It has been also analyzed the competitiveness of Macedonian products at the Russian market so that the product categories with a comparative advantage can be determined, using the Standard International Trade Classification and the Balassa Index. The results of the analysis point to the fact the Republic of Macedonia has a comparative advantage in the export of agriculture products, the chemical products, machines and transport equipment.