The Economic Importance of Agriculture in Western Balkan Countries

In this chapter, we analyse macroeconomic importance of agricultural sector in countries of the West Balkans (WB), as well as ways this sector is contributing (or hindering?) the economic growth. We are observing the most important macroeconomic challenges and a macro-picture of the agricultural sector (in the first chapter), and perspectives of this sector in the near future. By this approach, we are pointing to: (i) contribution of the sector to GDP, (ii) weak points of the regional agriculture, (iii) possibilities for advancement and (iv) contribution to the future growth. Hence, productivity becomes the corner stone of our analysis, affecting mostly: (i) unemployment reduction and (ii) current account deficit reduction, but also (iii) inflationary pressures. The next phase of development of the sector leads to its corporatization, thus creating presumptions for its accrued productivity.