The influence of market instability on industrial production index: Comparative analysis of balkan region

Abstract

Unstable environment of today, as a consequence of the economic uncertainties, has an impact on all spheres of the countries in the world, from economic to social aspects. If we consider the issues from the production aspect, we easily can recognize the trend of decreased or slight increased production, compared to previous years. Although they still maintain a market share, real production and sales, in a big review of the state of countries in the world, show lower values. In order to follow trends of increase or decrease of industrial production in such environment and in order to consider the facts about which production activities are satisfactory and on which of that activities countries should focus more attention, countries should conduct statistical analysis of all aspects in the form of different indexes which, depend of country, can be calculated on a different ways. This paper will present comparative analysis of changes of industrial production index (calculated by using Laspeyer formula), in general and also according to a certain production activities (manufacturing, mining - quarrying, capital goods etc.) in Serbia, Montenegro, Macedonia, Bosnia and Herzegovina and Croatia as a result of economic instability during the period of five years.