STRUCTURAL TRANSFORMATION OF THE UKRAINIAN ECONOMY IN THE CONTEXT OF GLOBALIZATION
Abstract
The study analyzes the current structure of Ukraine's economy, identifies the main directions of its transformation, and assesses the potential impact of globalization on sustainable development. The focus is on the analysis of key economic indicators, export and import dynamics, as well as Ukraine's position in global innovation rankings. Globalization opens up new opportunities for Ukraine's integration into international markets, but at the same time requires a revision of the national economic structure to ensure its competitiveness and resilience to external shocks. Ukraine's economy, which has historically been based on commodities, particularly agricultural products and ferrous metals, is vulnerable to fluctuations in global prices. This dependence underscores the need for a transition to an innovative high-tech-oriented economic model that can ensure sustainable development and improve the living standards of citizens. The main steps in this direction are to increase Ukraine's participation in global innovation processes and develop knowledge-intensive industries. An analysis of gross domestic product using the production method shows that, despite the challenges posed by the war, Ukraine's economy continues to transform. GDP is expected to grow from UAH 3.98 trillion in 2019 to UAH 6.54 trillion in 2023, although a decline was recorded in 2022. Key sectors, such as agriculture and energy, show significant fluctuations, pointing to the need to diversify the economy. Studying the dynamics of exports and imports allows us to understand which industries contribute to economic development. The Ukrainian economy is integrating into the international division of labor, adapting to global standards. The study emphasizes the importance of innovation and investment in structural transformation to ensure sustainable development in the context of globalization.
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