Effect of Recession on International trade of UK Essay

Effect of Recession on International trade of UK - Essay Example ession has been characterized with variables such as unemployment, jobs creation and availability, the incomes of the affected population as well as aspects of housing and demography. This paper even so narrows its scope to take the gross domestic product to represent the aforementioned variables. Recession can be argued by this paper to affect the social life in terms of increase in crime, This, loosely speaking, can be said to result from the cases of lack of jobs, unemployment, and the effect of recession on higher education or education in general. Due to the recent cases of recession, there have been reports of sharp increases in unemployment rates, evident in between the years, 2008 and 2009 (Trading Economics, 2014). This happened concurrently with drastic declines in employment rates in a given span of years. The number of available jobs fell and this impacted negatively on production. This paper notes that, during the recession period, most of the lively hoods in the UK were negatively impacted. This is what prompted the analysis. As much as there exists domestic negative impacts, this paper seeks to find out if the same impact has a relationship with the international trade. This paper developed a model, Y = -73460693 -0.596*balance of trade, to relate and predict the effects of the recession on international trade. The daily activities in the world derived from quantitative techniques. Practical phenomena and decisions need to be addressed more accurately and effectively. Practically the everyday numerous decisions that must be made are assisted by analyzing datasets quantitatively. The importance of this statistical technique is the fact that unlike in the academia, the real business world is rich in information to base on in making critical decisions correctly. The development of statistics and more specifically quantitative analysis methods is majorly due to the inability to identify the characteristics of interest in most instances of business