Economic Strategies of Innovative Competitiveness of Textile Industry Enterprises in the Categories of Costs and Results

Abstract

The article is aimed at diagnosing the costs of textile industry enterprises and developing economic strategies for innovative competitiveness of enterprises focused on the growth of their results. In terms of dynamic approach to the growth rate of value added volumes the article allocates the following sub-sectors - leaders and outsiders. In terms of structural approach, it is shown that the bulk of the value added accounts for the production of other textile products, primarily the production of finished textiles, except clothing. The overall tendency of textile production to increase positive financial results during 2010-2019 is statistically proved. The sub-sectors with cumulative losses and the greatest contribution to the formation of the financial result of the textile industry are allocated. The tendency of all types of textile production to increase the proportion of profitable enterprises is identified. It is shown that there are no large enterprises in the textile industry, and the main share of the financial result is formed by medium-sized enterprises, except for the production of finished textile products, apart from clothing, and other textile products for technical and industrial purposes. The main economic strategies of innovative competitiveness of textile industry enterprises are substantiated.

Keywords

• economic strategies
• innovative competitiveness
• enterprises
• textile industry
• costs
• results