JEL classification: F10; F15
Introduction. In the open economy, the diversification of international trade and integration relations is one of the dominant factors in reducing the uncertainty of the external environment. The process of Ukraine’s integration into the world economy intensified after the country’s independence and was accompanied by numerous turbulences in the internal and external environment. The strategic task for Ukraine now is to develop and implement a balanced foreign economic strategy to create a competitive economy and justify measures to reduce its sensitivity to these adverse conditions by improving the mechanisms of foreign economic activity.
The purpose of the article is a comprehensive assessment of the diversification of domestic trade-integration relations, taking into account the turbulence of the international economic space.
Results. The main indicators of diversification of international trade and economic relations of Ukraine are analyzed, on the basis of which its key factors having a specific context and geographical character are singled out. The main problematic issues of development of domestic foreign trade in terms of external and internal factors are identified. The structure and dynamics of spatial and commodity diversification of trade and integration relations of Ukraine are considered. The main directions of increasing the export diversity of commodity flows are systematized and the tasks of expanding trade and economic ties and deepening the country’s integration into the world economy are outlined.
Conclusions. The degree of diversification of Ukraine’s trade and integration relations is quite high and it is determined by the concentration of its efforts on creating favorable conditions for trade in EU markets. At the same time, there are numerous positive trends in the development of diversified trade and integration relations of Ukraine, which indicate the formation of a basis for further stimulation of exports of innovative and knowledge-intensive products and, consequently, greater competitiveness in world markets.
Key words: diversification, world economy, international trade, international trade integration relations.
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The article was received 15.09.2020