The article reveals the essential characteristics of the economization of Ukraine’s foreign policy, the stages of its formation. It turns out that the world’s leading countries have a long history of foreign policy economization, which is based on the postulate of ensuring economic growth and promoting prosperity as its main goal. The formation of the principles of economic policy of foreign institutions of Ukraine is a combination of Soviet traditions and patterns of world practice. Emphasis is placed on the negative impact of the multi-vector foreign policy of Ukraine’s main actors on its economization. It is argued that economic diplomacy is in a constant process of reform, which is not always consistent, which negatively affects its effectiveness. Attention is focused on the importance of Ukraine’s cooperation with international organizations in the context of the armed conflict in the East and the sharp reduction of export-import operations with Russia. The problems of functioning of the institute of economic diplomacy are covered: the presence of competition of foreign policy and foreign economic departments of Ukraine, the absence of diplomats – qualified managers of foreign economic activity, lack of funding, staff reduction.It is concluded that in the context of globalization the role of the social function of the Ministry of Foreign Affairs of Ukraine and its diplomatic corps, which is to provide information and legal protection of Ukrainian citizens abroad, is growing. It is necessary to actively create the institution of "non-state diplomacy". Foreign economic institutions need to provide maximum assistance to exporters of high valueadded products. The pro-government circles of Ukraine do not always have the understanding or desire to understand that the powerful economic component of our state’s foreign policy and the effective economic diplomacy that embodies it are a significant contribution to the power of Ukraine’s economy and its national security. The issue of the separation of functions of pro-government institutions remains largely unresolved, primarily with regard to the powers of the administration / office of the President and the Ministry of Foreign Affairs. Ukraine’s successful export expansion should be based on more fundamental systemic tools than the adopted Export Strategy. There is an urgent need not only to preserve but also to improve the overall foreign policy strategy, to strengthen its priorities and basic principles.