Bìznes Inform (Aug 2023)
Macroeconomic Indicators in Assessing the Country’s Export Orientedness
Abstract
The article considers the prerequisites for ensuring the export orientedness of the country as a logical consequence of its economic stability on the basis of an analysis of macroeconomic indicators and their comparison with the indicators of developed countries of high-tech export specialization. The task of assessing the export orientation of a number of countries with developed economies and Ukraine has been solved using the gross domestic product per capita as one of the most common macroeconomic indicators of the state of the economy. A study of the relationship between GDP and the amount of exports during 2012–2022 was conducted for a number of developed countries whose economies are characterized by a lack of raw materials and human potential (Singapore, New Zealand, Belgium, Slovenia, Portugal). Analysis of trends and growth indices of selected indicators makes it possible to verify the high level of export orientedness of the economies of the selected countries. In order to assess the level of correlation between gross domestic product and the amount of exports, a correlation analysis was carried out. The results of the analysis showed the presence of a direct correlation between GDP and the amount of exports, which can be considered as evidence of the significant role of export activities in ensuring the economic growth. A verification of the direct relationship between the amount of GDP and the amount of exports makes it possible to assess the structure of the economies of countries by the structure of exports. The next step in the study is to assess the specialization of the country’s economy in foreign trade by analyzing the structure of exports in the context of types of economic activity, which will allow to determine which areas of export are inherent in countries with developed economies, and to assess the level of their specialization.
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