Effect of the 2008-2009 economic crisis on the results of agricultural foreign trade of the Czech Republic

Abstract

After accession of the Czech Republic to the EU in 2004, the volume of agricultural foreign trade (AFT) in the CR increased significantly. In the past two years, the trend has changed under the influence of the global economic crisis affecting the European area. The first part of the paper is focused on the overall development in the period of 2004-2009. To assess the competitiveness of agrarian commodities in foreign markets in 2008-2009, an analysis was carried out with the use of the Balassa RCA Indicator (Revealed Comparative Advantage) and also Michaely Index, which indicates a certain degree of specialization in exports. A logarithmic method, which allows determining the influence of prices and quantities on the change in net exports during these years, has also been used.

Keywords

• agrarian foreign trade
• competitiveness
• competitive advantage
• balass rca indicator
• michaely index