CURRENT STATE AND PERSPECTIVES OF THE FOREIGN ECONOMIC OPERATIONS IN KHARKIV REGION

Abstract

Foreign trade operations in the Kharkiv region were analyzed in this article. We showed the dynamics of changes in the volumes of exports and imports and the trade balance. The analysis of the foreign trade dynamics demonstrates the negative trends in the course of the recent years. The trade balance remained negative during the whole analysed period . The structure of exports and imports of goods and services by type of activity and by geographical structure was considered. According to the obtained results, we can draw a conclusion that Kharkiv region still has industrial potential in the field of mechanical engineering. It has also considerable potential for the development of the agro-industrial complex and the chemical industry. The geography of foreign trade shows the following data: the largest share of goods is exported to the CIS countries, while the main importing countries are other countries of the world and Europe.
Based on the obtained results, we can make certain conclusions. For the development of foreign economic activity, Kharkiv region has a number of competitive advantages, such as a good geographical location, powerful industrial potential, highly skilled labor resources and a well-developed infrastructure. It is necessary to pursue a policy of reasonable protectionism, paying considerable attention to the structure of imports and assess the threats and prospects for domestic producers. Local authorities should promote law initiatives aimed at creating special investment development regimes, help create a positive image of the region.