Development of international trade of the European Union and mechanisms of partner countries’ interaction in the domestic market

Abstract

Subject. The article considers international trade in the European Union countries in the face of external challenges and threats. Objectives. The purpose is to assess the international trade of the European Union, analyze programs and mechanisms of interaction with partner countries in the internal market. Methods. The study draws on historical-logical and dialectical principles, and employs method of scientific abstraction. Results. I explored trends in the total exports of the European Union countries for 2019–2021, defined the share of the countries of this integration group in world exports and imports in 2016–2021, compiled a forecast of economic indicators for the near future. Conclusions. When implementing the Single Market Program, economic entities will seek sustainable growth, increase jobs, and this will lead to strengthening the position of partner countries in the internal market and beyond.