FOREIGN TRADE ACTIVITY OF UKRAINE: STATE, PROBLEMS, PROSPECTS

Authors

  • Марія Василівна Диха Khmelnytsky National University http://orcid.org/0000-0003-4405-9429
  • Ivanna Liamets Khmelnytsky National University

DOI:

https://doi.org/10.31471/2409-0948-2021-1(23)-108-117

Keywords:

foreign trade activity, export, import, commodity structure, innovations, competitiveness.

Abstract

The current state of Ukraine's foreign trade activity is considered in the article. It was found that the volume of Ukraine's imports exceeds exports. As a result, Ukraine's foreign trade balance has been negative for the past 15 years. The commodity structure of Ukraine's exports is dominated by products of vegetable origin, base metals and articles thereof, mineral products, fats and oils of vegetable or animal origin. In the structure of Ukraine's imports, the largest share is made up of machinery, equipment, mechanisms and electrical equipment; also a significant share of imports are mineral products; products of chemical and related industries; land vehicles, aircraft, floating vehicles. It was found out that the main trade partners of Ukraine in recent years are the European Union. Exports to EU countries are three times higher than exports to Ukraine's second largest trading partner, China.

Problems that slow down the development of the economy as a whole and negatively affect the development of Ukraine's foreign trade are identified: political and legal; organizational and managerial; production; financial; marketing and sales; labor. It is noted that in order to solve / level these problems, Ukraine must implement a number of effective strategically oriented state reforms, as well as the subjects of foreign trade activities should introduce a system of tools.

The directions of increase of volumes of export are defined: increase of degree of processing of raw materials in Ukraine with the subsequent export to foreign markets; expansion of nomenclature positions for export, first of all, at the expense of finished products; development of innovative activity and increase of the share of high-tech export goods. In order to improve the foreign trade balance of Ukraine, increase the volume of exports, opportunities to enter the EU markets and other markets of the world, the subjects of foreign economic activity of Ukraine need to certify their products in accordance with the relevant standards. Commodity producers need to monitor industry trends, modernize their production, implement technical and technological, organizational, etc. innovation. Such innovations will increase the competitiveness of goods in the domestic market and displace imported counterparts, as well as the possibility of gaining market niches in foreign markets.

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Published

2021-07-02

How to Cite

Dykha, M., & Liamets, I. (2021). FOREIGN TRADE ACTIVITY OF UKRAINE: STATE, PROBLEMS, PROSPECTS. Scientific Bulletin of Ivano-Frankivsk National Technical University of Oil and Gas (Series: Economics and Management in the Oil and Gas Industry), (1(23), 108–117. https://doi.org/10.31471/2409-0948-2021-1(23)-108-117