ECONOMIC ANALYSIS OF FOREIGN TRADE DEVELOPMENT OF ODESSA REGION

Keywords: foreign trade, export, import, Odesa region, foreign trade turnover, potential, efficiency

Abstract

The article is devoted to topical issues of the influence of foreign trade on the general development of the Ukrainian economy on the example of the analysis of foreign trade of the Odesa region. In the context of social transformations and globalization, the foreign trade sector of the Odesa region can be the basis for development that will provide an important positive impact on the general state of Ukraine. All other regions are characterized by moderate import dependence and should focus on finding ways to meet intra-regional needs, creating industries that are not enough to localize full production cycles in these areas based on the rational use of regional resources. The strategic role of foreign trade in ensuring the development of the country's economy is that it allows, through new sales markets, to stimulate the expansion of production of goods in the exporting region; is a source of additional financial receipts and income growth as a result of the difference between regional and foreign values for certain goods and services; provides receipts in foreign currency. The current state of foreign trade in Ukraine and the choice of directions for its implementation depends on the foreign economic policy as a whole, pursued by the government of the country, and the socio-economic state of individual regions of the country. The main purpose of the study is to analyze the current state and prospects for the development of foreign trade in the Odesa region. Odesa region is part of the sea facade of Ukraine. It is located at the intersection of the most important international waterways and is the largest region in terms of territory, located in the south-west of Ukraine. In this regard, it has a large industrial and agricultural potential, the implementation of which allows increasing foreign trade. It was revealed in the article that although today the Odesa region is not a leader in foreign trade in goods, it ranks second among regions and cities of the country in terms of the volume of services rendered, second only to Kyiv. The main task of the formation of the export potential of the Odesa region is the reorientation of the national economy to achieve a more uniform and balanced export return of its individual regions. Also, it has been proven that an important trend was the reorientation of the export of goods from Europe to Asian countries.

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Published
2021-01-26
How to Cite
Pichugina, J., Gusenko, O., & Maksymova, J. (2021). ECONOMIC ANALYSIS OF FOREIGN TRADE DEVELOPMENT OF ODESSA REGION. Economy and Society, (23). https://doi.org/10.32782/2524-0072/2021-23-8
Section
ECONOMICS