ТЕНДЕНЦІЇ ТА ДИНАМІКА РОЗВИТКУ СВІТОВОГО ТОВАРНОГО РИНКУ ПРОДУКЦІЇ МАШИНОБУДУВАННЯ

Abstract

Today’s world economy is characterized by a high rate of world production and international trade in machinery and technical equipment and by intensive structural changes in the world market. The engineering industry in our days is the most important industry in any country, reflecting the population’s abundance, the economy’s ability to adapt to the international market, and the country’s ability to keep up with dynamic developing technologies. The subject of the article is relevant, since, in the current economic environment, the engineering industry is the key to successful and profitable foreign trade. The development of mechanical engineering has a positive impact on many parallel sectors of the country’s economy. Nowadays, engineering plays a key role in the diffusion of innovative machines, equipment and manufacturing processes in other sectors of the economy. The majority of biotechnologies and nanotechnologies, production of advanced materials, micro and photo electronics, is heavily dependent on innovation in mechanical engineering. The USA, Japan, Germany, and China are among the world’s leading exports of machinery and technology. In the past 20 years, the leaders have been replaced three times. There has been a recent upward tendency to China’s mechanical engineering market grows. The global competition among the world’s leading regions is about to intensify correspondingly. Overall trend in the world economy is the relocation of low- and medium-scale industries from developed to developing countries. Multinational companies contribute significantly to this process. Experts are predicting that the developing countries will be further strengthened in the global engineering industry over the medium term. Above all this concerns China. The development of mechanical engineering was greatly influenced by the coronavirus pandemic. The current challenges are related to the pandemic, represent an important additional negative factor for the industry that has already been hit, and continue to face challenges due to the shrinking of leading markets and due to need for large-scale investment in machinery and technology. Resumption of economic growth in the countries most affected by the pandemic takes place on an investment basis, and it is going to be supported by the accumulation of business finance, that would be stimulate further investments primarily in the field of machine engineering.