Development Trends of Ukraine's Foreign Trade in Raw Products and its Impact on the Economy of the Country and the World

Abstract

The theoretical and methodological basis of the research is built upon the works of domestic and foreign scholars. The results were obtained through the application of a system of research methods. Specifically, methods of grouping, classification, and quantitative comparisons were used to examine the commodity and geographical structure of Ukraine's exports. Structural and economic-statistical analysis methods were employed to evaluate the main financial indicators of Ukraine's external trade in raw materials, and a graphical method was used to visually represent the obtained research results. The article is dedicated to a detailed study of Ukraine's external trade relations. It studies the state of the country's external trade in raw materials, with a thorough examination of the dynamics of Ukraine's export and import operations in the raw material sector. The structure of Ukraine's exports and imports is analyzed using statistical methods. The impact of Ukraine's external trade on the economy of country and the world as a whole are discussed. Raw materials are commodities without added value, making their sale less beneficial for the country compared to the sale of finished products derived from raw materials. As a result, the country's economy develops at a slower pace. Therefore, the issues raised in the study are discussed, and a strategy for the development of Ukraine's external trade is proposed. The prospects for the further development of Ukraine's external trade in raw materials are identified. Research on the trends in Ukraine's external trade in raw materials enables the forecasting of economic development and the formulation of directions for the country's external trade.

Keywords

• economic relations
• raw materials
• economy
• country
• external trade
• export
• import
• raw material potential
• economic development.