The impact of trade policy and agreements on the development of international trade in Ukraine’s agricultural sector

Abstract

International trade is now one of the main types of international relations, without which it is impossible to imagine the modern functioning of any economy. Thus, it is significant to investigate the impact of various types of government policies and individual agreements on this type of relationship and the very development of countries. The purpose of this study was to show how external activity and trade interact in the agricultural sector in Ukraine. The main methods employed in this study included analysis, forecasting, and abstraction. The study described the role of international trade, specifically in the agricultural sector, considering its significance for the country’s economic development. The role of international trade was briefly described from a theoretical standpoint. The study, based on the analysis of statistical data, also showed the impact of trade agreements on the development of foreign trade. In the context of the study of the agricultural economy, it was shown that the gradual growth of Ukrainian agricultural exports, imports, and foreign trade is strongly related to the number of trade agreements concluded. The corresponding equation of dependence of values was constructed and its economic meaning was explained. The role of the sector in general, and specifically in the current martial law environment, was also described. Special attention was paid to Ukraine’s agricultural sector, which plays a crucial role in economic development. The role of this sector and the unique characteristics of the industry were substantiated. A strong correlation between the number of trade agreements and the volume of international trade in the agricultural sector of Ukraine was noted through regression analysis, which led to conclusions about the role of trade agreements in the development of international trade in agricultural products. This study brings new knowledge in terms of assessing the role of international trade for the country’s development, as well as analysing the current general state of Ukraine’s economy.