The Selected Aspects of Foreign Trade in Central European Countries
The Selected Aspects of Foreign Trade in Central European Countries

Author(s): Jaroslav Kovarnik, Eva Hamplova
Subject(s): National Economy, Business Economy / Management, Economic policy, International relations/trade, Economic development
Published by: Masarykova univerzita nakladatelství
Keywords: Central Europe; Czech Republic; export; foreign trade; import;
Summary/Abstract: This article deals with the selected aspects of foreign trade development in the countries from central Europe, namely the Czech Republic, Poland, Slovakia, Hungary, where these countries belong into Visegrad Four, and Germany, because countries of V4 have usually strong connections with Germany. The article continues with analysis from other articles presented on other conferences, and it analyses development since 2000, and it focuses on selected aspects of foreign trade development, because foreign trade is crucial part for sustainable development for almost all countries around the world (it is part of GDP formula in open economy). The article analyses development of foreign trade with goods and with services, where have been discovered relatively surprising results (the weakest economy in terms of services has been Germany), but consequently the article analyses relations between export development, foreign trade development, and GDP development. In theoretical point of view, export is considered to be independent on domestic product, and economically weak countries are usually considered to be more dependent on export (in terms of GDP development). This fact has been proved during analysis, where especially V4 countries are strongly dependent on export. However, the final impact of net balance of foreign trade on GDP is relatively weak in all V4 countries, which is relatively surprising fact again. Detail description of results is in this article.

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