Abstract
In the work, the economic justification of the efficiency of export operations of LLC “Industrial Group “Phosphorite” was carried out. The enterprise under study is a part of EuroChem Group AG and sells products on the Russian market and also exports mineral fertilizers to foreign markets. The organization and features of export operations are investigated. The basic principles and methods of state regulation of foreign trade activity in the Russian Federation are considered. When considering the world and domestic market of mineral fertilizers, the analysis of volume indicators of chemical industry production was carried out, the main importing countries of Russian fertilizers and the main competitors of EuroChem Group AG were identified. The paper analyzes the foreign economic activity of EuroChem Group AG and its subsidiary LLC “Industrial Group “Phosphorite”. The main markets for products were identified and a comparative assessment of the effectiveness of two export transactions was carried out. Based on the effectiveness assessment, recommendations were made to increase the profitability of export transactions. The implementation of measures to increase the efficiency of export transactions will lead to an increase in the company’s profitability.
Highlights
International trade is a key tool for a manufacturing enterprise to improve its specialization, expand markets for products and increase production volumes.Foreign economic activity plays an important role both for the country as a whole and for a single enterprise
The research hypothesis formulated in accordance with the proposed research problem is that the efficiency of export transactions is influenced by a wide range of factors, the identification and optimization of which helps to increase the profitability of transactions, which, in turn, leads to an increase in the company's net profit
As part of this work, the export transaction of the LLC "Industrial Group "Phosphorite", which manufactures and sells phosphorus-containing fertilizers to the domestic and foreign markets, with an enterprise located in Germany, was considered
Summary
Foreign economic activity plays an important role both for the country as a whole and for a single enterprise. This is a special area of economic activity, which is associated with international production and scientific-technical cooperation, import and export of finished products, as well as with the enterprise entering the foreign market. Every large enterprise engaged in foreign trade needs to constantly improve its export operations. Separate divisions of the enterprise directly related to foreign economic activity need to constantly monitor and analyze international transactions in order to identify and eliminate shortcomings in order to increase the efficiency of such operations and increase profits [1]
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