Open AccessTRENDS IN FOREIGN ECONOMIC SECURITY OF UKRAINE
Author(s) -
Olga Kuhareva
Publication year - 2021
Publication title -
bìznes-navìgator
Language(s) - English
Resource type - Journals
eISSN - 2707-6172
pISSN - 2522-4751
DOI - 10.32847/business-navigator.64-12
Subject(s) - economic security , china , state (computer science) , context (archaeology) , business , value (mathematics) , international trade , economics , economy , economic system , economic policy , political science , economic growth , geography , archaeology , algorithm , machine learning , computer science , law
Foreign economic activity is a reflection of the state of the economy and a factor influencing it, so its shortcomings need to be addressed to ensure the intensification of development. The study of these aspects has scientific, practical interest for the formation and implementation of an effective strategy aimed at solving existing problems in the economy and maintaining an acceptable level of foreign economic security. The article analyzes the foreign economic activity of the country in the context of assessing the level of security by the characteristic values of specific security indicators. The critical and dangerous level of export coverage of imports for a long period has been determined, which indicates a set of problems in the country's economy. Changes in the share of partner countries over the past few years are described. It is noted that the largest changes in both exports and imports, of course, was the Russian Federation, whose economic ties, in terms of foreign economic security, were dangerous or critical, especially for imports, and only in 2020 the figure approached satisfactory values. These positive changes are accompanied by a deterioration in the level of security with another country, namely China, because the share of imports has crossed a satisfactory value and since 2019 has reached unsatisfactory. As a result, Ukraine is changing its excessive dependence on foreign economic relations from one country to another. All this indicates the absence or unsatisfactory state of control over these processes by the state. This is also confirmed by the unsatisfactory state of implementation of measures to implement the Export Strategy of Ukraine. The directions of the decision of the specified problems which demand creation of system of management of foreign economic security of the country and formation of the grounded strategy of the international economic relations are offered. The country needs reforms not only in foreign economic activity, because to change the situation it is necessary to increase exports, which is impossible without the development of entrepreneurship, innovative economic transformations, investment and proper state support for all these processes.