ELECTRIFYING ECONOMIC GROWTH: A ROBUST EXAMINATION OF E-COMMERCE TRENDS IN THE REPUBLIC OF NORTH MACEDONIA
Keywords:
electronic commerce, Internet, growthAbstract
Every century brings its advancements, making it challenging to pinpoint a specific period as the most transformative. Historically, the 19th century introduced significant changes in power sources, transportation, mass production, and materials. The 20th century, on the other hand, was marked by developments such as solar cells, nuclear reactors, aircraft, and advancements in communication, including radio, television, and the internet. The evolution of the Internet has fundamentally transformed the global landscape, bringing significant and revolutionary changes. Undoubtedly, the growth of the Internet has greatly influenced the economy, paving the way for the digital transformation we experience today. Its extensive use has given rise to a model known as electronic commerce, which initially did not have a strong recognition of its value. Nowadays, electronic commerce is a vital resource for global growth, signaling a transformation in modern business practices and influencing the future trajectory of commerce. Moreover, this innovative tool has impacted businesses and served as a catalyst for human progress across various aspects of life. It has created opportunities for a competitive market, allowing consumers worldwide to operate as sellers without geographical constraints. To what extent have technological advancements been utilized in the Republic of North Macedonia? Was there a specific period that can be marked by significant growth, and what were the contributing factors? This research aims to address these two questions. To analyze the usage of technological advancements, both the internet and electronic commerce, we will conduct a comparative analysis of the growth of internet usage and electronic commerce over the past five years in the Republic of North Macedonia. The analysis will be conducted by utilizing data from secondary sources obtained from the State Statistical Office of the Republic of North Macedonia.
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