ECONOMIC CONSEQUENCES OF THE INTRODUCTION OF THE CRITICAL IMPORT PERIOD FOR THE IMPORT OF AGRICULTURAL EQUIPMENT

Abstract

This article explores the economic consequences of introducing the concept of «critical import» for the importation of agricultural machinery. The purpose of this research is to assess the impact of such a policy on the country's economy, focusing on the external trade balance, the agricultural sector, and investment activity. The study analyzes the importance of introducing the «critical import» term to support domestic production and technological advancement in agriculture. The research considers potential risks and benefits for local producers and consumers, addressing the potential effects on employment in the agricultural sector and the livelihoods of rural communities. The methodology employed involves a comprehensive examination of trade data, economic indicators, and case studies to evaluate the multifaceted implications of critical import policies. The study also examines social consequences, specifically focusing on the employment landscape in agriculture and the well-being of rural communities. The findings indicate that the introduction of a «critical import» policy can positively impact domestic agricultural production, fostering technological innovation and self-sufficiency. However, there are challenges related to potential disruptions in global supply chains and increased costs for consumers. The research emphasizes the need for a balanced approach, recommending policy measures to mitigate risks and enhance the overall competitiveness of the agricultural sector. In conclusion, the article provides valuable insights for policymakers, offering recommendations on the optimal implementation of critical import policies to ensure sustainable economic growth in the agricultural sector. The practical significance of this research lies in its potential to guide governments in formulating effective trade policies that support local producers, foster innovation, and promote inclusive development in rural areas. Furthermore, the study underscores the importance of considering regional disparities in the implementation of critical import policies, recognizing that different areas may face distinct challenges and opportunities. Additionally, it highlights the potential for international collaborations and knowledge-sharing to address common issues and promote synergies in the global agricultural landscape. Ultimately, the research contributes to the ongoing discourse on trade policies by offering a nuanced understanding of the intricate dynamics involved in shaping a resilient and sustainable agricultural sector in the face of evolving global economic conditions.