structural:expansion, structural:scholar_edition
Economy

The economy of Vojvodina is largely based on developed food industry and fertile agricultural soil. Agriculture is a priority sector in Vojvodina. Traditionally, it has always been a significant part of the local economy and a generator of positive results, due to the abundance of fertile agricultural land which makes up 84% of its territory. The share of agribusiness in the total industrial production is 40%, that is 30% in the total exports of Vojvodina.

The metal industry of Vojvodina has a long tradition and consists of smaller metal processing companies for components manufacturing and, to a lesser extent, of original equipment manufacturers (OEM) with their own brand name products. Vojvodina Metal Cluster gathers 116 companies with 6,300 employees. Other branches of industry are also developed such as the chemical industry, electrical industry, oil industry and construction industry. In the past decade, ICT sector has been growing rapidly and has taken significant role in Vojvodina's economic development.

High- tech sector is a fast-growing sector in Vojvodina. Software development represents the main source of revenue, particularly development of ERP solutions, Java applications and mobile applications. IT sector companies mainly deal with software outsourcing, based on demands of international clients or with development of their own software products for purposes of domestic and international market.Vojvodina pays particular attention to interregional and cross-border economic cooperation, as well as to implementation of priorities defined within the EU Strategy for the Danube Region.

Some of the companies from Vojvodina:

Vojvodina promotes its investment potentials through the Vojvodina Investment Promotion (VIP) agency, which was founded by the Parliament of the Autonomous Province of Vojvodina.