TEPSA is happy to present its new policy brief “Effects of the Coronavirus Crisis on the Trade of the Iberian and Visegrád Countries”, written by Andrea Éltető, a Senior Research Fellow and Research Director at Institute of World Economy (IWE CERS), Hungary.
This Brief discusses the coronavirus crisis effects on the foreign trade of Visegrád countries and Iberian countries. Developments in the past prove high trade dynamism but high dependence on global production too. I find that short-term crisis effects will be severe in manufacturing. 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 Global Value Chains (GVCs) can also favour the Visegrád region.