University of AkureyriÓskarsson, Guðmundur KristjánKristjánsdóttir, Helga2025-11-142025-11-142021-04Óskarsson, G K & Kristjánsdóttir, H 2021, 'EU country and EFTA country export differences', Journal of Risk and Financial Management, vol. 14, no. 4, pp. 147. https://doi.org/10.3390/jrfm140401471911-806643863156a2be1839-0e13-46ca-a76b-d1c3514be47800064312350000185149083399https://hdl.handle.net/20.500.11815/5727This research seeks to analyze the export differences facing countries in the EU and EFTA. This is firstly to analyze the effects on international trade of the trade bloc of the European Union (EU), and secondly the European Free Trade Association (EFTA), and provide a comparison of these two. This research seeks to analyze exports determinants to answer these two questions. There are two countries selected for this study, the small EFTA country Iceland, and the large EU country UK, before BREXIT. We apply a gravity model in our econometric analysis, with exports dependent on the gross domestic product, population, and geographic distance. We estimate these effects on the exports of both the UK and Iceland in separate equation systems. We conclude that exports from the UK, before BREXIT, are more negatively affected by geographical distance than exports for the EFTA country Iceland, when corrected for gross domestic product and population size.This research seeks to analyze the export differences facing countries in the EU and EFTA. This is firstly to analyze the effects on international trade of the trade bloc of the European Union (EU), and secondly the European Free Trade Association (EFTA), and provide a comparison of these two. This research seeks to analyze exports determinants to answer these two questions. There are two countries selected for this study, the small EFTA country Iceland, and the large EU country UK, before BREXIT. We apply a gravity model in our econometric analysis, with exports dependent on the gross domestic product, population, and geographic distance. We estimate these effects on the exports of both the UK and Iceland in separate equation systems. We conclude that exports from the UK, before BREXIT, are more negatively affected by geographical distance than exports for the EFTA country Iceland, when corrected for gross domestic product and population size.288329147eninfo:eu-repo/semantics/openAccessUKEUInternational tradeGeographic distanceInternational tradeGeographic distanceEUEFTASDG 7 - Affordable and Clean EnergySDG 10 - Reduced InequalitiesSDG 5 - Gender EqualitySDG 13 - Climate ActionSDG 6 - Clean Water and SanitationSDG 8 - Decent Work and Economic GrowthSDG 1 - No PovertySDG 9 - Industry, Innovation, and InfrastructureSDG 2 - Zero HungerSDG 3 - Good Health and Well-beingSDG 4 - Quality EducationSDG 11 - Sustainable Cities and CommunitiesSDG 12 - Responsible Consumption and ProductionSDG 14 - Life Below WaterSDG 15 - Life on LandSDG 16 - Peace, Justice and Strong InstitutionsSDG 17 - Partnerships for the Goals/dk/atira/pure/researchoutput/researchoutputtypes/contributiontojournal/article10.3390/jrfm14040147