The Analysis of the Factors Influencing the International Trade of the Slovak Republic

Abstract

Abstract Global tendencies and movements in the world are great challenges and also important opportunities for individual economies. Globalization of the markets and the internationalization of the production present the most significant features of the world economic development during the last decades. Globalization impacts have changed the rules of the world competition. Global strategy is based on the search of the balance between the local adaptation and global standardization. Globalization as an economic phenomenon have affected significantly the growth of the international trade. Growth of the international trade has been influenced by many factors followed-up on globalization, such as the development of the technology, governments decisions, institutions activities, consumers behaviour, increasing competition, new trade agreements, etc. The aim of the proposed Paper is to analyse chosen factors concerning the globalization process that have influenced the growth of international trade of the Slovak Republic. By using scientific-cognitive methods, i.e. issue analysis, gained data synthesis, comparison and deduction chosen factors influencing the international trade of the Slovak Republic were reviewed. We have focused on the last decade – the time priod after the entry of the Slovak Republic into the European Union. Based on the results, we can state that there is a place for an improvement in all searched fields considering the strategic location of the Slovak Republic - in the center of Europe.