The presented paper addresses the principles of forming foreign trade volume in the regions of Russia. During the study, based on open statistical data from reports of the Federal State Statistics Service and using a data analysis tool embedded in the Excel spreadsheet program, the authors developed a regression model that includes seven factor indicators describing socio-economic criteria that are presumed to significantly influence the foreign trade volume in the constituent entities of the Russian Federation. In building and evaluating the regression model, standard econometric analysis procedures were applied, including the stage of model quality assessment, during which insignificant variables were excluded based on criteria such as P-value and standard error. After performing all necessary adjustments to the obtained model, the authors conclude that the foreign trade volume of a region directly depends on its attractiveness to international migrants, the level of education development, and the volume of natural resources. The paper also highlights the limitations of the proposed model, which lie in the limited consideration of the education factor, represented only in quantitative terms and through accessibility, without accounting for the quality of education. Thus, the proposed model identifies key drivers of regional foreign trade potential growth, perceived as foreign trade volume, but requires further refinement, especially in terms of incorporating the quality of education, which will allow for more accurate determination of priority areas in regional economic policy.
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