COMPARISON OF THE EFFICIENCY OF FUNCTIONING OF ECONOMICS OF THE EUROPEAN UNION AND THE NORTH AMERICAN FREE TRADE AGREEMENT

This article provides a comparative analysis of the effectiveness of the European Union (EU) and the North American Free Trade Agreement (NAFTA) in the modern circumstances of globalization and economic transformations. This article analyses the dynamics of GDP of unification of countries, along with the impact that economic crises have on their functioning. The export and import structure of the EU and NAFTA is researched and GDP volumes for the two unifications of countries are forecasted.