Abstract
The article reveals the causes and consequences of accumulated problems in the development of the textile industry of Ukraine. The analysis of the state of the global textile market is presented. The processes of transferring centers of influence in the industry mainly from developed countries to developing countries are studied. The critical dependence of textile production on imported raw materials and semi-finished products is established. Attention is drawn to the need to strengthen the domestic raw material base, the revival and cultivation of flax, industrial hemp. The state of the implementation of foreign trade transactions in the industry is characterized the intensity of the flow of investment to strengthen its potential is investigated. Attention is focused on the need to strengthen the role of the state in supporting the development of the textile industry. Recommendations on further restructuring of the textile industry as an effective tool to increase its competitiveness have been developed.
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