Why is the problem of improving export capacity urgent? What are the major commodity groups of Ukrainian exports?
At the present stage of world economy development the economic situation of a state is determined by such important factors as internal resources and the degree of its integration into the world economy. One of the most important factors of Ukraine’s integration into the global economy is a mechanism for sustainable development of exports, which under present-day conditions is dependent on the capabilities of domestic enterprises to manufacture and sell products that meet the requirements of the world market for quality, price and service.
Export potential of the country is its capability to export available or produced resources and products. Export resources are a part of a country’s export capacity, meant for current sale.
Today the problem of improving export capacity of Ukraine is very urgent. Exports of Ukrainian goods and services can ensure the inflow of funds required to undertake full reform of the economy and improve social welfare. But there are several problems that must be addressed as soon as possible. In order to solve the problems they need to be thoroughly studied and analyzed, their origins and causes must be identified.
The major commodity groups of Ukrainian export are products of metallurgical, chemical petrochemical industries and agricultural sector. There remains a low proportion of engineering products. Ukraine acts mainly as an exporter of products with low added value and which are undistinguished on the market of high-technology products. This makes it an unpromising partner for regional integration both in the West and in the East. After all, it is high-technology industries and technically sophisticated manufacturing capable of operating in conditions of international cooperation, that are main spheres of integration in present-day global economy.
The implementation of these and other events in the context of Ukraine export potential development will be possible only on condition that reforms in economic, legal and social spheres are carried out.