Impact of external shocks, trends and prospects of non-primary non-energy exports of the Samara region

Abstract

The development of foreign economic activity and the increase in exports and the share of non-primary non-energy exports are the most important tasks for the development of the regional economy. The research contains a retrospective analysis of trade and economic cooperation in the Samara region and an assessment of changes influenced by significant political, economic and global events and phenomena. It has been shown that significant developments since the beginning of the XX century (the global financial crisis of 2008 and the sharp fall in oil prices in 2009, 2015, the imposition of sanctions in 2014, the COVID-19 crisis) have necessitated and state policy has created the conditions for a consistent shift towards the expansion of non-primary non-energy exports. The evaluation showed that the Samara regions economy has entered a new stage of increasing the positive contribution of non-primary non-energy exports. The regions economy has successfully adapted to the impact of economic sanctions, reducing the role of European countries as an export destination and diversifying its export portfolio towards Asia and Africa. The authors have identified fast-growing five-year export countries for which special promotional policies have been proposed. The research has identified certain European countries that, despite the pan-European sanctions policies, are actively recovering exports from the Samara region, as well as European countries where local friendly policies can encourage mutual trade growth. The conclusion was reached that more attention should be paid to the border Kazakhstan, which has recently witnessed a trend towards the cooling of mutual relations at the national level. However, the neighborhood with Kazakhstan makes it impossible to ignore the policy of strengthening friendly relations in order to increase the economic stability and security of the border region of Samara.