INTERDEPENDENCE OF FOREIGN TRADE AND THE ECONOMIC GROWTH OF SERBIA

From the 1990s to this day, taking into account increasing volume of international trade around world, a large number studies have emerged with relationship between economic growth and foreign as their research subject. Most these shown that liberalization positively correlates productivity in developing countries. The aim is determine interdependence changes gross domestic product Serbia period from 2000 2019. A vector autoregressive (VAR) econometric model error correction (VECM) were used research. Additionally, paper tested causality observed variables, performed an innovative analysis, together analysis variance decomposition. results showed existence long-term connection share imports exports GDP development Serbia. In long run, negatively GDP, while trends.