SHS Web Conf.
Volume 74, 2020The 19th International Scientific Conference Globalization and its Socio-Economic Consequences 2019 – Sustainability in the Global-Knowledge Economy
|Number of page(s)||8|
|Section||Economic Sustainability in Emerging Markets|
|Published online||10 January 2020|
Globalization and Foreign Trade: Selected Topics in Central European Countries
University of Hradec Králové, Faculty of Informatics and Management, Department of Economics, Rokitanského 62, 500 03, Hradec Králové, Czech Republic
* Corresponding author: email@example.com
Foreign trade plays important role in the economy of every country, especially in modern globalized world. This article deals with selected aspects of foreign trade in countries from central Europe, namely in the Czech Republic, Slovakia, Poland, Hungary, Germany, and Austria. Method of comparative analysis has been used in this article. Firstly, the article analyses the development of GDP (foreign trade is part of GDP formula in every open economy), where the most powerful economies are Germany and Austria. Secondly, overall development of trade with goods and services in all selected countries has been analysed. Surprisingly, the only country with deficit in case of services is Germany. Thirdly, the article focuses on development in two countries, namely of the Czech Republic and Slovakia. The openness of these two countries is compared, but most of all, the export and import of these two countries in relation with other analysed countries. Relatively surprising result is that for both countries is the most important business partner Germany, but there are some differences. Detail results are described in the article.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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