Ukraine-EU trade relations: statistical analysis of the total trade turnover

Oksana Kiforenko

International Journal of Economics and Business Research, 2022, vol. 23, issue 1, 1-18

Abstract: International trade between countries and countries' unions play a principal role in the increase of the people's living standards and provision of new jobs. The international trade statistics play an important role in the monitoring, analysis and making projections of national and macroeconomic developments of countries and countries' unions. The goal of the article was to analyse the original data of Ukraine-EU total trade turnover in terms of their annual variations and normality of their distribution. The log, square root and reciprocal transformations were implemented to the data, either original or reflected. The values of skewness and kurtosis, the results of Shapiro-Wilk tests and their corresponding p values, the histograms with fitted normality curves as well as Q-Q plots were presented and compared. The time frame of the data under analysis is 16 years. The research presented in the paper can be used by either big or small companies involved in the international trade, the EU international trade bodies and decision makers as well as by both beginners and experienced specialists in statistics and data science.

Keywords: trade relations; Ukraine; European Union; Association Agreement; Deep and Comprehensive Free Trade Area; DCFTA; test for normality; skewness; kurtosis; Shapiro-Wilk test; fitted normality curve. (search for similar items in EconPapers)
Date: 2022
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