The intensity of foreign trade deficit and the dynamics of its growth from 2000 to 2004 suggest the need to give a special attention to the problem of competitiveness. It is a general opinion of professional public that the long-term competitiveness of a state and business cannot be generated from the current economic structure and, therefore, the structure of product export. Therefore, the solution to the problem is to be sought in restructuring the economy and the export offer, and adjusting it so that it meets the demand of the most important foreign trade partners. First of all there is the need to converge the product structure of export with the structure of foreign import, that is, the needs of the European Union. This is a consequence of the fact that this particular group of countries represents the most important destination of Serbian export, that is, that a little more than the half of the total product export is intended for these countries. This is exactly why it is necessary to establish a diagnosis of the degree of structural adequacy in terms of Serbia’s export to the European Union, and to provide a set of useful suggestions about how to find the cure.