Analysis and assessment of ICT innovations impact on competitiveness of foreign economic relations: Azerbaijan's experience

Abstract

Considering that the modified and improved ICT service becomes a commodity in the domestic and foreign markets, it can be said with complete certainty that the improved service in the domestic market, i. e. as a commodity, meets the demand of domestic consumers. But the updated and improved ICT services’ entering foreign markets necessarily complete with other similar services available in those markets. Thus, the object of the study is new innovative ICT services that join the competition in the field of foreign trade and act as the main criterion for measuring the competitiveness of international economic relations. Different factors affect a competitive economy, which include the innovation activity, investment environment, effective spending, existing infrastructure, business security, human capital, social stability, political stability. World experience demonstrates that the competitiveness indicator of developed countries is based on technological advantages, while the competitiveness indicator of developing countries is based on resource advantages. The study aims to analyze and assess of Azerbaijan's ICT innovations impact on competitiveness of foreign economic relations. In this article are studied: 1) the role of innovations in the ICT sector like as high-tech field of economy; 2) the disclosure of the position of the ICT sector in the foreign economic activity field; 3) analysis and assessment of ICT innovations impact on competitiveness of foreign economic relations in Azerbaijan. In conclusion, author suggested some recommendations for Azerbaijan ICT sector activity improving by innovations in sphere of foreign economic relations. Author used to foreign statistical sources, as well as state statistical collections of Azerbaijan in this article.