The impact of globalization on the business position of European Union

¹ University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics, Univerzitna 1, 010 26 Zilina, Slovak Republic
² University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics, Univerzitna 1, 010 26 Zilina, Slovak Republic

^* Corresponding author a azuzana.rosnerova@fpedas.uniza.sk bbdagmar.hraskova@fpedas.uniza.sk

Abstract

We are meeting with the term globalization for many years. The globalization process sets in motion goods, services, financial flows, information, through globalization come to the mobility of people, the workforce and globalization is also a power drive to move the whole world. This paper deals with the contribution of globalization to the EU market. The aim is to find out to what extent EU countries are involved in world trade. It also points to the position of the World Trade Organization, which is the only organization connecting the countries of the world, with the aim strengthening of world trade and ensuring its liberalization. We assume that the EU as the largest integration group in the world will play an important role in world trade and that EU countries will be among the top 10 world players. The document contains an analysis of the EU’s position in world trade. The methodology used is based on comparing the export shares of the top 10 world trade countries and assessing how the countries of the EU positioned on the scale in 2018. The discussion deals with assessing the findings and estimating the situation in the future.