REGISTRATION CERTIFICATE
KV #19905-9705 PR dated 02.04.2013.
FOUNDERS
RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)
According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media. ID R30-03156
PUBLISHER
Liburkina L. M.
SITE SECTIONS
Main page
Editorial staff
Editorial policy
Annotated catalogue (2011)
Annotated catalogue (2012)
Annotated catalogue (2013)
Annotated catalogue (2014)
Annotated catalogue (2015)
Annotated catalogue (2016)
Annotated catalogue (2017)
Annotated catalogue (2018)
Annotated catalogue (2019)
Annotated catalogue (2020)
Annotated catalogue (2021)
Annotated catalogue (2022)
Annotated catalogue (2023)
Annotated catalogue (2024)
Thematic sections of the journal
Proceedings of scientific conferences
|
The Impact of the COVID-19 Pandemic on the Components of Germany’s Foreign Economic Activity Kaverina K. O., Grygorova-Berenda L. I.
Kaverina, Kateryna O., and Grygorova-Berenda, Larysa I. (2022) “The Impact of the COVID-19 Pandemic on the Components of Germany’s Foreign Economic Activity.” Business Inform 10:14–20. https://doi.org/10.32983/2222-4459-2022-10-14-20
Section: International Economic Relations
Article is written in UkrainianDownloads/views: 3 | Download article (pdf) - |
UDC 339.9(430):[616.98:578.834.1]-036.21COVID-19
Abstract: Data from the German Federal Statistical Office show that economic production in this country decreased significantly in 2020, and gross domestic product decreased by 5% compared to the previous year. This means that the German economy suffered a deep recession in 2020 owing to the consequences of the COVID-19 pandemic, which disrupted the ten-year positive dynamics of economic growth. The purpose of the article is to define the features and characteristics of the impact of the COVID-19 pandemic on the components of Germany’s foreign economic activity. The place and role of Germany in world trade are considered. The impact of the consequences of the COVID-19 pandemic on the economic indicators of Germany and the European Union was examined, in particular, a significant drop in GDP in the second quarter of 2020. It is substantiated that the German economy is export-oriented and at the same time to some extent it is import-dependent. The impact of the COVID-19 pandemic on international trade in goods is outlined. In particular, since March 2020, there has been a significant drop in Germany’s exports and imports indicators owing to logistical problems and failures in supply chains. It is defined that motor vehicles and spare parts for them, as well as machinery and chemical products are the largest groups of goods among the exports and imports of Germany. Using the calculated RCA index, it was found out that according to these groups of goods, Germany also has comparative advantages. The dynamics of export and import volumes of the main commodity groups of Germany is presented. The prolonged impact of the pandemic, in particular the restrictive measures taken in the spring of 2019, on a significant drop in exports and imports in mid-April 2020 has been researched. It is proved that the high degree of openness of the German economy has increased macroeconomic stability in the context of the impact of the pandemic. It is found out that foreign economic activity is one of the important factors that helped the German economy cope with the COVID-19 crisis. A description of the successful EU policy in response to the consequences of the impact of the COVID-19 pandemic is given.
Keywords: exports, foreign economic activity, imports, RCA index, Germany, COVID-19 pandemic.
Fig.: 5. Tabl.: 1. Formulae: 1. Bibl.: 12.
Kaverina Kateryna O. – Student, Faculty of International Economic Relations and Tourism Business, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine) Email: [email protected] Grygorova-Berenda Larysa I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Economic Relations named after Artur Holikov, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine) Email: [email protected]
List of references in article
Korol, M. M., and Shliakhta, K. V. “Innovatsiinyi skladnyk ekonomichnoho rozvytku Nimechchyny v umovakh hlobalnoi konkurentsii“ [Innovative Component of Economic Development of Germany in Global Competition Conditions]. Naukovyi visnyk Uzhhorodskoho natsionalnoho universytetu. Seriia «Mizhnarodni ekonomichni vidnosyny ta svitove hospodarstvo». 2018. http://www.visnyk-econom.uzhnu.uz.ua/archive/19_2_2018ua/10.pdf
Kuzminov, S. V., and Zhuravlyov, V. Ye. “Dynamika ekonomichnoho zrostannia u FRN: dzherela, faktory ta interesy“ [Dynamics of Economic Growth in Germany: Sources, Factors and Interests]. Akademichnyi ohliad, no. 2 (2019): 93-100. DOI: https://doi.org/10.32342/2074-5354-2019-2-51-9
“Germany's Economy, Its Successes and Challenges“. The Balance. May 29, 2021. https://www.thebalancemoney.com/germany-s-economy-3306346
Amadeo, K. “Economic impacts“. Federal Statistical Office. https://www.destatis.de/EN/Themes/Cross-Section/Corona/Economy/context-economy.html
“EU-Monitor COVID19. Statistisches Bundesamt“. https://www.destatis.de/Europa/EN/Topic/COVID-19/COVID-19-article.html
“Germany - Country Commercial Guide. Market Overview. International Trade Administration“. https://www.trade.gov/country-commercial-guides/germany-market-overview
“Global Trade Outlook 2022“. IHS Markit. https://ihsmarkit.com/research-analysis/Global-Trade-Outlook-2022.html
“Impact of Covid-19 on the European Union Economy“. International Finance. March 21, 2022. https://internationalfinance.com/impact-covid-european-union-economy/
“The Atlas of Economic Complexity“. Atlas. https://atlas.cid.harvard.edu/
Kohler-Geib, F., Scheuermeyer, Ph., and Ullrich, K. “The coronavirus and foreign trade - the crisis accentuates long-term trends“. KfW Research Focus on Economics. No. 323. March 05, 2021. https://www.kfw.de/PDF/Download-Center/Konzernthemen/Research/PDF-Dokumente-Fokus-Volkswirtschaft/Fokus-englische-Dateien/Fokus-2021-EN/Focus-No.-323-March-2021-The-coronavirus-and-foreign-trade.pdf
Monks, A., and Verwey, M. “The EU economy after COVID-19: Implications for economic governance“. CEPR. October 21, 2021. https://cepr.org/voxeu/columns/eu-economy-after-covid-19-implications-economic-governance
“World Trade Report 2021“. World Trade Organization. https://www.wto.org/english/res_e/booksp_e/wtr21_e/00_wtr21_e.pdf
|
FOR AUTHORS
License Contract
Conditions of Publication
Article Requirements
Regulations on Peer-Reviewing
Publication Contract
Current Issue
Frequently asked questions
INFORMATION
The Plan of Scientific Conferences
OUR PARTNERS
Journal «The Problems of Economy»
|