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Evaluation of the export potential of Latvia with EU countries categorized by groups of goods

100%
Pancenko E., Ivanova T.
Forum Scientiae Oeconomia
|
2018
|
issue Volume 6 (2018) Issue No. 2: Economic Growth, Innovations and Lobbying
37-50
EN
The relevance of the research subject is related to the fact that exports are an integral part of the overall economic potential of any state and largely determine the pace of its economic development. The slowing of export growth relates to exports to the EU countries in recent years; the negative trade balance of Latvia with these countries increases the need to analyse the factors affecting the realisation of export potential and to search for opportunities to do so. The purpose of this study is to analyse the export potential of Latvia to the EU countries, categorised by groups of goods. To achieve the goal of the study, it was necessary to determine the essence of the export potential, identify factors that affect the implementation of the country’s export potential and assess the export potential of trade between Latvia and the EU countries by groups of goods. The study used quantitative and qualitative methods of analysis, statistical data analysis, as well as methods for assessing the potential of Latvian exports to the EU countries. As a result of the study, groups of goods with trade potential for export to the EU countries have been identified.
2

Latvian Potential in the Trade with the EU Countries

100%
Pančenko Ē., Ivanova T.
Economics and Business
|
2016
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vol. 28
|
issue 1
68-75
EN
The importance of international trade for the economic development of any country, on the one hand, and the decreasing rates of goods turnover within the EU countries in recent years, on the other hand, reveal the relevance of the research on the assessment of Latvia’s trade potential with the EU countries. The aim of this study is to measure and assess Latvia’s export potential with the European Union countries based on the gravity model. Since the development of trade relations is influenced by various factors, the article provides an overview of empirical studies that analyse various factors determining the level of trade among the countries. Possible volume of exports from Latvia to the EU countries was calculated on the basis of gravity model; calculations were conditioned by several factors included in the model, such as GDP, geographical distance and the degree of country’s economic freedom. The article also provides an assessment of Latvia’s export potential realisation extent. The method described in this article allowed applying the gravity model for the assessment of cooperation between Latvia and the EU countries, and was suitable for the quantitative evaluation of the extent to which export potential was realised in other countries
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