Diversification of the Structure of Export Activities Under Conditions of Economic Crisis and Loss of Foreign Markets

• Main Author: Havrylchenko Olena V.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2019-09-01
• Series: Bìznes Inform
• Subjects: diversification; exports; export diversification; export structure; evaluation of export diversification; export potential
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2019-9_0-pages-51_56.pdf

The article is aimed at analyzing the theoretical and methodological approaches to diversification of Ukrainian exports under conditions of economic crisis and loss of foreign markets. The essence and reasons for export diversification are considered, the structure and tendencies of development of national exports are explored. The carried out analysis of the structure and dynamics of Ukrainian exports showed the need to diversify Ukraine’s products with the purpose to gradually turn into a State with an innovative knowledge-intensive economy. This will help to restore economic growth and achieve a certain level of competitiveness. According to the results of the analysis, a large diversification of Ukrainian exports due to the gradual decrease in Ukraine’s focus on the CIS markets and, in particular, on the Russian market, is specified. Ukraine for now insufficiently uses trade opportunities with countries such as the United States, Germany, Great Britain, France, Japan and Canada. In general, the State underutilizes the trade potential with 75 world countries and thus underreceives about 6 billion US dollars. It is substantiated that in the conditions of economic crisis and loss of external markets it is advisable to use the opportunities of innovative and inertial directions of diversification. A methodology for evaluating export diversification at the regional and enterprise level is proposed, which should become the basis for determining methods of diversification and identifying measures aimed at optimizing the commodity structure of exports. Understanding the main stages of export diversification of enterprise is an important condition for its further implementation.