Abstract

Foreign trade relations play a key role in the national economy, as they are the basis for the international exchange of goods and services between different countries. Therefore, the study of the state and prospects for the development of Ukraine’s foreign trade activity is relevant task for further effective economic growth. This study is devoted to the study of the impact of foreign trade relations on the economic development of Ukraine. The main functions, principles and rules of the World Trade Organization (WTO), which ensures the competitiveness of products in the world market, are disclosed. The main foreign trade partners of the country are studied, the structure of exports and imports of goods and the state of the foreign trade balance of Ukraine for the last three years are considered. The research model is based on an integrated approach, using methods such as analytical, statistical, analysis and synthesis. The research work analyzes the theoretical aspect of foreign trade relations, the state of Ukraine’s foreign trade and develops recommendations for their improvement. The practical significance lies in the analysis of the current state of Ukraine’s foreign trade relations, identifying the main problems and identifying possible ways to solve them. This makes it possible to define precise directions for the further development of foreign economic activity, to develop effective strategies for attracting foreign investment, expanding export opportunities, as well as strengthening trade partnerships with other countries. The social effects of this article are to strengthen economic development and increase Ukraine’s competitiveness in the international arena.

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