TRENDS AND PROSPECTS OF UKRAINIAN EXPORTS

Abstract

Exports play an important role in the economy of every country. The purpose of the study is to identify trends in Ukrainian merchandise exports and to develop recommendations for certain promising market niches for Ukrainian exporters. The study was conducted using static analysis methods and the results obtained were generalised. The article substantiates the importance of exports as a form of international trade. The strategic approach of the state to intensifying and improving the structure of exports is revealed, namely by adopting and updating the Export Strategy of Ukraine and implementing the economic policy “Made in Ukraine”. The results of a survey of business owners and CEOs from all regions of Ukraine and from various industries, which was conducted in December 2023 - January 2024 within the framework of the United Nations Development Program (UNDP) project “Support to Ukraine” to study the state of development of foreign economic activity in Ukraine, are presented. An analysis of the dynamics of the commodity structure of Ukraine's exports in 2008-2023 by product group was carried out. Stable trends in the development of exports in Ukraine are identified and evaluated. It is established that Ukraine has not managed to significantly increase the volume of merchandise exports in recent years. In general, the adoption of the Export Strategy and its implementation did not change the negative trends in the structure of merchandise exports, as Ukraine continues to export mainly agricultural products and other products with a low degree of processing. The article presents the TOP-10 countries with which Ukraine has the largest trade turnover. It was found that in 2023, Ukraine had the largest trade turnover, with imports, with China and Poland, and Turkey was in third place. Among these 10 countries, only Romania and Spain had a positive trade balance. The vast majority of them have a negative trade balance. This confirms the relevance of intensifying import substitution policy. The practical value of the study lies in the fact that the results obtained can be used to improve the commodity structure of exports and increase Ukraine's competitiveness in the world market.