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Abstract:The concepts of structure and structural changes can be applied in many different ways. Relatedly, the roughest distinction is reflected in two approaches: development economics approach and econometric approach. This paper will rely on the development economics, because it seems that the econometric approach oversimplifies the structural analysis and structural changes. Development economics, which evolved through the interaction between theoretical research and empirical studies, deals with many issues related to structure and growth in less developed (developing) countries. In development economics, the economic structure analysis is observed mostly through micro and macro approach. The paper relies on a macroeconomic approach which views the economic development as a set of interrelated long-term processes of structural transformation accompanying the growth. Unlike the neoclassical approach, which makes a simple distinction of the economy to sectors producing tradable goods (with a high substitution) and sectors producing non-tradable goods, development economics studies structural adjustments of much serious complexity. Unlike other branches of economy, development economics has no universally accepted doctrine or paradigm. Instead, it is based on continuous evaluation of thinking, creating a ground for understanding the processes of modern economic development.

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For many years, the Republic of Serbia has had a huge problem with balance of payment, which can be seen in chronic deficit in the current balance. Small and inadequate supply and large export demand caused by structural and economic system`s problems are the main reason for such a situation. Regardless the fact that the balance on services of the Republic of Serbia has recorded permanent surplus for years (with an exception of few years when it was in deficit due to errors of economic policy) it is not able to fill in the gaps between export and import of balance on goods, which has been chronically in deficit for decades. Because of that, the future economic policy of the Republic of Serbia should be directed to long-term solutions of problems of the balance of payment, in the sense of its sustainable deficit. This means that the increase in export should be an imperative in the long run, and restructuring of the economy in the sense of increasing the share of export-propulsive sectors is a condition sine qua non.In order for effects of export to be higher and to have positive effects on the balance of payment and the competitiveness of the Republic of Serbia, all comparative advantages of the economy should be used and their shift to competitive advantages should be speeded up. In this regard, this paper will particularly analyze the “revealed comparative advantages”. We will make an attempt to identify crucial sectors and groups, which show revealed comparative advantages, with a special focus on identifying service sectors, which traditionally record surplus in the foreign trade.

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