An Analysis of Graphs as a Tool of International Trade in the Countries of the European Union
An Analysis of Graphs as a Tool of International Trade in the Countries of the European Union

Summary/Abstract: International trade is a field to which graphs and their analysis can be successfully applied. International trade can be defined as the flow of goods between the economies of different countries in the world. The term itself includes the following issues: the flow of capital, labour force migration, the exchange of goods and services, and the transfer of scientific and technical thought. This paper focuses only on foreign trade defined as the exchange of goods and services between a particular country and its surroundings. The analysis has been kept to the countries of European Union. The first part of the article characterises the concept of foreign trade and how it is measured. The next part introduces a model of international trade in the European Union based on graphs, with nodes representing the countries and the edges – the flows between them. The last part of the work consists of an analysis of the model and final conclusions.

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