Importance of the Agro-Food System for Economic Development in Selected LMICs

Abstract

Primary agricultural production and the food industry jointly represent the agro-food system of one country. This system has an important role in the economic development of the Republic of Serbia, which according to the World Bank classification, belongs to the group of LMICs. The aim of this paper is to validate the strategic role of the agro-food system in the economic structure of low- and middle-income countries and its contribution to overall economic development. Applied criteria for selecting the countries for the analysis were: gross national income per capita, territorial affiliation (geographical position), and CEFTA agreement. Based on such criteria, the sample countries include Serbia, Albania, Bosnia & Herzegovina, and North Macedonia. Indicators of the contribution to economic development are created using secondary data and divided into four categories: employment indicators, activity indicators, population indicators, and economic indicators. The period covered by this analysis is from 2013 to 2018