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Trade Flows between Czech Republic and East Asia
Since 2005, Czech Republic has succeeded in transforming its economy through international trade surplus. However, Czech Republic’s trade deficits with East Asia are burgeoning, not only in China but also in other East Asian countries. This study provides an insight into Czech Republic’s import/export performance in East Asia during 1999-2011. In this study, the geographic concentration of trade, on a macro view, is adapted to highlight Czech Republic’s new regional market of East Asia in contrast with its trade expansion in the world. In consideration of the general development of world trade, the probability model of trade flows, on a micro view, is employed to investigate Czech Republic’s trade flows of East Asian countries. The result suggests that Czech Republic is bound to encounter continuing trade imbalance with East Asia. Nevertheless, Czech Republic’s trade geographic concentration in East Asia has the potential to relax.