Foreign Economic Activity of Enterprises: Modern Challenges and Prospects of Development

Abstract

The aim of the article is to study the current state of foreign economic activity of Ukraine, to determine the prospects for development, taking into account the political and economic situation in the country. The article characterizes the current state of foreign trade. According to the State Statistics Service of Ukraine, the general indicators of foreign trade in goods in 2018–2024 are analyzed as follows: the total value of imported and exported goods, the volume of export-import operations, the commodity structure of foreign trade, and the geographical structure of foreign trade in goods. The main problems inherent in the economy of Ukraine are allocated, including: the continuation of the general slowdown in the growth rate of the world economy and the establishment of restrictive measures on Ukrainian exports of agricultural products used by the countries of the European Union. The main features and prospects for the development of the international trade market are defined, namely: improvement of the regulatory framework, updating the Association Agreement with the EU; ensuring predictable and stable terms of international trade; ensuring the possibility of transporting goods by railway; ensuring the competence of the economic entities engaged in foreign economic activity; increasing the procurement of licenses for the latest technologies; increasing the competitiveness of domestic manufacturing enterprises; improving the quality of Ukrainian goods and services; simplification of customs control. The most promising directions of foreign trade for Ukraine have been allocated, such as: the agricultural sector; IT sector; light industry and fashion; transport and logistics. It is emphasized that there is a general trend of prevalence of imports over exports throughout the study period, which justifies the expediency of establishing relations with existing partner countries and expanding and strengthening foreign cooperation in the field of trade.

Keywords

• foreign economic activity
• international trade
• export-import operations
• statistical data
• trade market research
• import