ANALYSIS OF THE COMPONENTS OF ECONOMIC POTENTIAL FOR CONDUCTING FOREIGN ECONOMIC ACTIVITIES OF BUSINESS ENTITIES IN THE DANUBE BASIN IN UKRAINE

Abstract

The article demonstrates the importance of studying the assessment of economic potential for business entities in the Danube basin, considering the international community’s focus on issues affecting the delta region. It identifies the components essential for evaluating the economic potential for foreign economic activity of these entities: production, natural resources, labor, innovation, and investment. The natural resource potential for realizing the economic potential of foreign economic activities of entities located in Ukraine’s Danube basin is characterized. The indicators of the production component of economic potential for entities in the Odesa region are analyzed, covering the dynamics of the gross regional product, the number of economic entities, and the dynamics and structure of exports of goods and services, as well as the financial performance of leading enterprises. The analysis results of Odesa region indicators from 2017-2022 confirm strong economic potential for foreign economic activity in terms of the production component (including engineering, agriculture, transport, chemical, food, light industry, energy) and natural resource component (natural and climatic conditions, landscape diversity). The article highlights the predominance of agricultural products and transport services in exports. It is established that business entities remain dependent on imports of mineral products, machinery, and equipment for conducting foreign economic activity. Analyzing the results and reports allowed the identification of risks associated with foreign economic activity for business entities in the Odesa region. Recommendations for enhancing the foreign economic potential of business entities, considering influential factors and risks, can support the development of further strategies for Odesa region, Izmail district, and individual business entities. The scientific novelty of this research lies in expanding theoretical frameworks and improving the scientific and methodological foundations for assessing the economic potential of business entities engaging in foreign economic activity.

Keywords

• potential
• economic potential
• foreign economic activity
• business entities
• danube basin
• danube delta