This work focuses on researching and establishing the importance of human capital and innovation as determinants of competitive advantages in international trade in the context of rapidly evolving technological advancement, globalization, and economic integration.The processes that accompany the shift from industrial economics to a knowledge-based economy are currently the object of interest of both scientists, politicians, investors and entrepreneurs. In many countries, the traditional sources of socioeconomic development, such as low labor costs, availability of inexpensive raw...