World economic crisis influence on the EU and the USA manufacturing production export
World economic crisis influence on the EU and the USA manufacturing production export

Summary/Abstract: Merchandise export from the EU and the USA in the last ten years was showing significant changes, which were particularly expressed during the World economic crisis. After its ending, yearly fluctuations of this economic magnitude are gradually returning to the precrisis levels. These reductions of merchandise export contributed to the fall of the total production in all observed countries. Measures of macroeconomic policy which were implemented in order to stop that fall of production and employment did give certain positive results in the observed period. However, long-term consequences of the World economic crisis are still present, particularly in the structure of merchandise export. Markedly negative influence is achieved in the sector of manufacturing production in the USA, whose part in merchandise export is significantly decreased. Employment in this sector of the economy was during a period of the World economic crisis also marked with bigger changes in the USA than in the EU. An additional indicator of the influence of this economic crisis is a fact that until the end of 2016 the levels of employment in the sector of manufacturing production have not still achieved the precrisis levels, neither in the EU nor in the USA. Such tendencies in movements of export and employment in this sector of the economy can negatively influence on the stability of economic system and export competitiveness of each of the observed economies.

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