ADVANCING THE CIRCULAR ECONOMY: THE ROLE OF KEY SECTORS IN DEVELOPING COUNTRIES

Abstract

The implementation of the circular economy in industry is essential for reducing waste, optimizing resource use, minimizing environmental impact, and fostering sustainable economic growth through recycling, reuse, and innovative production and consumption models. This paper examines the potential for adopting circular economy principles in key sectors of developing economies, with a particular focus on the Republic of Serbia. The analysis explores four critical sectors: construction, textiles, agriculture and food, and plastic packaging by evaluating their current practices, opportunities for circular transition, and the challenges involved. By assessing these sectors, the paper provides valuable insights into how Serbia can move toward a more sustainable and resource-efficient economy, aligning with broader global objectives of sustainability and circularity.