APPROACHES TO EVALUATING THE EFFICIENCY OF THE FOREIGN ECONOMIC POLICY OF UKRAINE

Abstract

In connection with the start of active military operations by Russia, the external threat of violation of the sovereignty and integrity of Ukraine, the loss of parts of the territory has a systemic nature and threatens the functioning of the entire national security system. It is time for the state to solve a number of priority problems, including in the field of foreign economic policy. An important task, among others, is the stabilization of foreign trade activities, ensuring the sale of products of domestic manufacturers on foreign markets and the receipt of critical imported goods in sufficient quantities, taking into account the changes in the functioning of the state's economy under martial law. The main shortcomings in the field of foreign trade before the start of a full-scale war were attributed by the majority of scientists to the following: low competitiveness of domestic products, high energy and material intensity of industries of the national economy, insufficient level of investment in Ukrainian industry, lack of a mechanism for effective introduction of the latest technologies in industry, risky credit monetary policy of the state in the banking sphere, stock and currency markets, inefficient tax system, rising inflation, loss of state control over natural monopolies, etc. Today's free international trade opens up powerful markets for the enterprises of each country, encourages the development of technologies and innovations throughout the world, which stimulates the improvement of the productivity of activities in general. The article analyzes the current state of Ukraine's foreign trade under the conditions of an unstable environment, and calculates indicators characterizing the effectiveness of the state's foreign economic policy. With the help of correlation-regression analysis, the density of the connection between export and import quotas was evaluated. The calculated indicators for evaluating the effectiveness of Ukraine's foreign policy for 2018-2021 proved its low effectiveness, in particular: a decrease in the share of foreign trade turnover in GDP, a negative balance of foreign trade, unstable dynamics of exports and imports, as well as fluctuations in their shares in the state's foreign trade turnover. Solving problems in the field of foreign trade of Ukraine lies in the plane of establishing economic and political ties with the leading countries of the world by increasing efforts in the development of the most promising industries today.