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The role of foreign trade and its effects

Author

Listed:
  • V. Jeníček

    (Faculty of International Relations, University of Economics, Prague, Czech Republic)

  • V. Krepl

    (Faculty of International Relations, University of Economics, Prague, Czech Republic)

Abstract

Foreign trade is the reflection of economic relationships among the individual economies and represents the part of the country foreign relationships, which include trade exchange of a part of the production. In the simplifies balance understanding, it is usually presupposed that the object of this exchange is such a part of the production, which exceeds the home consumers demand and thus is the object of export, or, vice versa, that part of the home demand which is not satisfied by the home production and thus has to be covered by import. In reality, the whole process is, however, substantially more complicated, as the whole series of reasons (price, trade, political etc.) lead often to exporting even those products which might have been realised in the home market, regarding the purchasable demand, and on the other hand, import includes in most commodity groups also the products competing with the home production and thus securing a wider assortment of supply.

Suggested Citation

  • V. Jeníček & V. Krepl, 2009. "The role of foreign trade and its effects," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 55(5), pages 211-220.
    • Handle: RePEc:caa:jnlage:v:55:y:2009:i:5:id:1507-agricecon
    DOI: 10.17221/1507-AGRICECON
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    References listed on IDEAS

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    1. J. Hron & T. Macák, 2008. "Determination of management capacity," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 54(2), pages 49-55.
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    Citations

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    Cited by:

    1. Miroslav SVATOŠ & Luboš SMUTKA, 2010. "Development of agricultural foreign trade in the countries of Central Europe," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(4), pages 163-175.
    2. Štefan Bojnec & Imre Fertő, 2012. "Agro-food exports variety from the Central and Eastern European countries," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 58(1), pages 1-9.
    3. Stefan Bojnec & Imre Ferto, 2018. "Drivers of the duration of comparative advantage in the European Union's agri-food exports," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 64(2), pages 51-60.
    4. Luboš SMUTKA & Miroslav SVATOŠ & Karel TOMŠÍK & Olga Ivanovna SERGIENKO, 2016. "Foreign trade in agricultural products in the Czech Republic," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 62(1), pages 9-25.
    5. Josef ABRHÁM, 2011. "Rural development and regional disparities of the new EU Member States," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(6), pages 288-296.
    6. Veljko VUKOJE & Ivan DOBRENOV, 2011. "Financial position of food industry in vojvodina during transition period," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(4), pages 185-198.
    7. Štefan BOJNEC & Imre FERTŐ, 2011. "Information and communication infrastructure development and agro-food trade," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(2), pages 64-70.

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