ANALYSIS OF PROBLEMS AND PROSPECTS OF UKRAINE’S FOREIGN TRADE WITH EU COUNTRIES

Abstract

The article analyzes the peculiarities of Ukraine’s foreign trade with other countries, including the EU countries. The development of foreign trade is important for the analysis of the economic situation of the country, reflects the attitude of the world’s countries to domestic production. The trajectory of foreign trade development is determined. It forms reserves for increasing the level of international trade relations and increases the competitiveness of Ukrainian production. The dynamics of changes in the geographical and commodity structure of international trade in goods and services during 2018-2020 is given, the share of the European Union in foreign trade, which is a key trading partner of Ukraine, is determined. The main groups of goods and services exported and imported by Ukraine are studied. The main reasons for the decrease in foreign trade turnover are substantiated. In addition, it was established that the main partner countries of Ukraine in international trade are China, Poland, the United States, Germany and the EU countries. The important component of Ukraine’s foreign trade is international trade in agricultural products. The article presents statistical data on the commodity structure of agricultural exports with the EU countries. Ukraine’s relations in the field of trade in agricultural products became important after the signing of the Association between Ukraine and the EU, which ensures the irreversibility of Ukraine’s European integration and it is priority for socially important reforms. It is studied that in order to improve Ukraine's foreign economic trade with the European Union, it is necessary to implement measures to modernize key export-oriented sectors of the economy, improve cooperation with other countries, pursue effective foreign economic policy, and strengthen the position of domestic manufacturers in foreign markets of goods and services. It is noted that cooperation with the European Union is one of the main priorities of Ukraine’s foreign economic policy. The article presents ways to improve Ukraine’s foreign trade and directions of improvement of foreign trade activity.