International Trade of Agricultural Products in Disruptive Times – The Correlation between Exports Subjects

6th International Scientific Conference – EMAN 2022 – Economics and Management: How to Cope With Disrupted Times, Ljubljana, Slovenia, March 24, 2022, CONFERENCE PROCEEDINGS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-57-8, ISSN 2683-4510

Abstract:

International trade helps reduce food insecurity by connecting the regions with limited agricultural potential and large populations to the regions with comparative advantages in agriculture. The international trade of agricultural products appeared to be vitally important in times of such challenges of nowadays as the COVID-19 pandemic, climate changes, turbu­lences on the political scene, etc., which the whole humanity has to face and overcome. The purpose of the article is to assess if the exports of the agricul­tural products from Ukraine to the EU and from Canada to the EU are cor­related and, if they are, how strong the correlation is. The data under anal­ysis are the export amount of goods from the Standard International Trade Classification (SITC) groups 0, which comprises food and live animals, and 1, which contains beverages and tobacco. The timeframe under analysis is 10 years – from 2011 to 2020 included. Such simple statistics of the data sets un­der analysis as mean, standard deviation, sum as well as minimum and max­imum values were calculated and compared. The dynamics, yearly changes and general trend lines of the data sets under research were analysed and compared. The general trend lines of the data under analysis were built and the projections for the following two periods were made in the article using the appropriate functions, having chosen from the exponential, linear, loga­rithmic, polynomial and power ones, taking into consideration the values of R² coefficients. The analyses for the data normality distributions were con­ducted. The Pearson and Spearman correlation coefficients as well as their p-values of the data researched were calculated and analysed. The research itself as well as its results would be interesting and useful for the public ad­ministration officials, business people, decision-makers as well as beginners and experienced specialists in data analysis and statistics.

Keywords:

International trade; Agricultural products; European Union; Ukraine; Canada; Correlation

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