The Brief Analysis of the Foreign Trade of the Czech Republic in International Comparison
The Brief Analysis of the Foreign Trade of the Czech Republic in International Comparison

Author(s): Jaroslav Kovarnik, Eva Hamplova
Subject(s): National Economy, Economic policy, International relations/trade, Economic development
Published by: Masarykova univerzita nakladatelství
Keywords: Central Europe; Czech Republic; export; foreign trade; import;
Summary/Abstract: The Czech Republic is the country in the Central Europe, it is a member of different international organizations, such as the European Union or Visegrad Four. This country has strong relations with other member states of V4 (namely Poland, Slovakia, and Hungary), where Poland and Slovakia are neighbours of the Czech Republic as well, however, it has the strongest economic relations with other neighbour, namely Germany. As was already mentioned, the Czech Republic, Slovakia, Poland, and Hungary are members of Visegrad Four, and share similar history, geo-political ideas, and economic development. This article deals with the analysis of foreign trade development since 2000, because foreign trade is crucial for sustainable development for almost all countries around the world (it is part of GDP formula in open economy). The aim of this article is to analyse selected aspects of foreign trade in the Czech Republic in comparison with above mentioned countries. The analysis focuses on the development of foreign trade with goods and with services, where have been relatively surprising results (the weakest economy in terms of services has been Germany), but consequently the article analyses relations of the Czech Republic with all other analysed countries. The analysis shows surprising development again, where net balance with these countries has been growing despite the fact that GDP in these countries decreased. Detail description of results is in this article.

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