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The evaluation of the EU trade with Russia based on the analysis of selected indices: Revealed comparative advantages, intra-industry trade, and trade intensity

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Kašťáková E., Baumgartner B.

Business and Economic Horizons

2017

vol. Volume 13

issue Issue 4

428-438

There have been many geopolitical changes and economic factors that affected the mutual trade between the EU and its main trading partners between the years 2005 and 2016. In the long term, one of the most important trade partners of the EU is Russia. It is a major supplier of energy resources to the EU as well as significant export market for European producers. Even today, when mutual trade relations are negatively influenced by trade-political sanctions, the mutual dependence is undeniable. The submission evaluates the mutual trade between the EU and Russia with the use of selected indices - revealed comparative advantages, intra-industry trade and trade intensity. The analysis of these indicators points to strategic importance of this trade relation. However, if the EU wants to sustain this relation, it should consider how to solve the current tension and after that to strengthen future mutual relations.

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1 Business and Economic Horizons

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The evaluation of the EU trade with Russia based on the analysis of selected indices: Revealed comparative advantages, intra-industry trade, and trade intensity