Effects of Foreign Trade on the Economic Performance of Industries—Evidence from Wood Processing Industry of Czechia and Slovakia

As was first stressed by the classical economists Adam Smith and David Ricardo, international trade plays a crucial role in growth process. The paper aims to analyze influence of foreign on economic performance wood processing industry (WPI) Czechia Slovakia. multivariate regression method (MLR), assumption tests for MLR models, Granger causality test were applied identify association between performance, indicators formed measure effects at level. revealed unidirectional Slovak WPI bidirectional Czech WPI. results that net export has positive effect industry, but only if imports is lower than exports. balanced balance indicated no performance. contributes existing knowledge with evaluation industry. also brings new empirical industries.