CEFTA: Trade and Growth Patterns Fifteen Years since Establishment


Nina Vujanović

wiiw Research Report No. 466, April 2023
33 pages including 11 Tables and 6 Figures

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This research report investigates the trade and growth benefits of the CEFTA agreement for its members. Although the countries have not reached their end goal of membership of the European Union, the report shows that CEFTA has supported their economic growth. However, there is trade heterogeneity in terms of the extent to which individual countries use CEFTA value added in their manufacturing exports. Less-developed economies seem to rely more on regional (CEFTA) supply chains, while manufacturing-based economies are increasingly coming to rely on EU supply chains. The countries have not built a strong export advantage abroad, as very little of their value added is used in EU exports.


Reference to wiiw databases: wiiw Annual Database, wiiw FDI Database

Keywords: CEFTA, trade, supply chains, growth

JEL classification: B17, F14, F43, F63

Countries covered: Albania, Bosnia and Herzegovina, Kosovo, Moldova, Montenegro, North Macedonia, Serbia

Research Areas: International Trade, Competitiveness and FDI, Regional Development