Impacts of the Global Economic Crisis on Foreign Trade of the Czech Republic

The Czech Republic went through a very interesting development in terms of foreign trade relations. Aforementioned development resulted in accession to the EU and deepening of trade interconnection with other EU member states. This paper analyses quantitative and structural changes in trade between the Czech Republic and its most important partners in the context of the global economic recession. The paper itself is divided into three parts. The first part presents the development of foreign trade relations of the Czech Republic. The point of the second part is to make one familiar with the context of the global financial crisis and the global economic recession. The third, analytical part aims at trade in goods (focused on territorial and commodity structure), trade in services (focused on the ratio between values of trade in goods and trade in services) and flows of foreign direct investments (focused on industrial and territorial structure). Also, the paper analyses the impact of cyclical fluctuations on growth rates of Czech imports and exports in general and makes a comparison of both.