The European Union's Global Goods Transport and Trade Relations and their Implications

Abstract

Trade and transit have always played an important and prominent role in the life of humanity. Trade was already of great importance in ancient times, and the Industrial Revolution brought about significant changes, with the invention of the steam engine revolutionising transport and allowing goods to be transported not only in response to seasonal needs (e.g. after harvest, harvesting, etc.). The development of waterways and railways, in addition to roads, made it possible to transport goods over long distances more easily and quickly. From this point onwards, goods were constantly moved for trade by the various modes of transport, giving rise to the development of transport as a new service industry. All these processes played an integral role in developing the supply chains and trade routes we know today. In the present research, to map global trade trends and linkages, the trade relations between the European Union, China and the USA were first examined, and then, using correlation analysis and linear regression, the typical economic and trade indicators in the European Union were analysed.