IMPACT OF GLOBAL ECONOMY OF FORESTRY AND FOREST BASED INDUSTRY IN THE CZECH AND SLOVAK REPUBLIC

The term "globalisation" has been widely used to describe the increasing internationalisation of markets for goods and services, the financial system, corporations and industries, technology and competition. The impact of economic globalisation on the forestry-wood sector is inconsistent. The aim of this paper is to evaluate the development of macroeconomics indicators, to analyse the impact of the global economy on the forestry-wood sector and to compare selected results in the Czech and Slovak Republic. To evaluate the impact of the global economy on the forestry-wood sector following indicators were selected: index of globalisation KOF; growth rate of gross domestic product, exports, imports and unemployment; indicators of openness of the economy and industry; the share of foreign direct investment on GDP. Both analysed countries have a high degree of globalization compared to other countries, which on one hand represents advantages consisting in the removal of tariffs, import and transaction barriers, but on the other hand, it implies disadvantages such as decreasing foreign trade, GDP rate, direct forest investments volume and an increase in unemployment. The common problems for the forestry-wood sectors the Czech and Slovak Republic are very small and declining domestic wood consumption, especially in the construction industry, and increasing exports of round wood.