Exports of the Machine-Building Products to the European Union Member States

Abstract

The article focuses especially on the issue of exports of the machine-building products to the European Union. The characteristic tendencies of exports in the machine-building sphere, such as the growth of volumes of sale of production, a rather low technological level of the exported products are determined. The dynamics and volumes of exports and imports of the machine-building products are analyzed on the level of the industry sector. It is substantiated that the main macroeconomic conditions influencing exports of the machine-building products are the unstable political and economic situation, fluctuation of exchange rate, significant raw material orientation of domestic exports, systemic problems of development of the foreign economic activity (such as reimbursement of VAT; currency, customs and tax regulation). It is proved that the promising directions of development of the machine-building production, which would be in demand in the European Union, is rocket-space, aviation, military-industrial, energy, transport, agricultural, residential, road engineering and the machine-building related to IT-sphere.

Keywords

• exports
• machine-building
• European Union
• equipment
• products