In this paper I describe some characteristics of the foreign trade of two European semi-peripheric regions: the Iberian countries (Spain and Portugal) and the Visegrád countries (Poland, Czechia, Slovakia, and Hungary). Based on the developments in the past decade, some conclusions can be drawn for the coronavirus crisis-effects. Visegrád countries are more integrated into the global production chains with a more significant weight of automotive and electronic industry in trade compared to the Iberian economies. This has caused high trade dynamism but high dependence, concentration too. Therefore, short-term crisis effects will be more severe in manufacturing here than in the other region. However, the composition of the service trade is more favourable for the Visegrád region than for the Iberian countries regarding the crisis-shock. Long-term effects stemming from the reorganisation of GVCs can also favour the Visegrád region.
Read more here.