EUROPEAN UNION - THE MAIN ACTOR OF INTERNATIONAL TRADE IN GOODS

Emilia Balan

Euroinfo, 2018, vol. 2, issue 4, 41-52

Abstract: The European Union remains a leader in international trade in goods even after international crisis from 2008-2009, due to EU trade policy. Trade is one of the European Commission's main priorities, as it is also one of the instruments available to stimulate the economy without burdening the budget, being also an essential tool for boosting jobs creation, for attracting investments hence contributing to economic development, particularly in the post crisis periods.International trade of goods contributes to the formation of the world GDP with a 48% share or annual oscillation around this, depending on the evolution of world economies. The growth rate of the global trade in goods has been substantially affected by the consequences of the international crisis. Another turning year was 2016, when the world trade in goods has marked a decline amid a sharp fall in the annual growth rate of export prices of raw materials on the background of a significant drop in import demand.The article aims to analyze the EU's position in the global trade of goods, its main competitors, as well as the contribution of trade in goods to overcome the world economic crisis in 2008-2009 period. The research was based on the statistics of the most important international institutions, but also on the most relevant studies in the literature in the field.

Keywords: European Union; trade; goods; international; context (search for similar items in EconPapers)
JEL-codes: F10 Q02 Q10 Q17 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:2:y:2018:i:4:p:41-52

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