Innovative Activity in the System of Foreign Economic Security of the Country

Abstract

Background. One of the main indicators of the country's economic development is its trade balance, in particular the total size and value of products that the country can adequately represent in foreign markets, ensuring reliable cash flow, balanced development of economic sectors, and, consequently, growing greatness and prosperity. In modern conditions, ensuring such a global export expansion of Ukrainian products to foreign markets, in particular European ones, is impossible without proper innovation of producers and exporters, as well as sufficient investment in planned innovation projects, which requires in-depth economic analysis and strategy in this direction. Using the latest scientific inventions and research. The aim of the article is to study and analyze the current state of Ukrainian exports to world and European markets and substantiate the possibility of differentiation of export flows in order to evenly distribute the share of exports between all industries, including engineering and high technology, etc. and move away from raw materials Materials and methods. The theoretical and methodological basis of the article is the scientific works of Ukrainian and foreign scientists on the problems of innovation development. Results. As we can see from the researched data, during the last decade there is a tendency of prevalence in the general structure of the country's exports of ferrous metallurgy and mining, which is primarily due to the strong potential of these industries inherited from Soviet times, as well as agro-industrial products. in particular, cereals and oils, which is explained by the tradition of these industries for the economy of Ukraine, and established under the Association Agreement tariff quotas for Ukrainian agricultural products in the markets of the European Union. Revolutionary tasks have been set to reduce the share in the structure of exports of these types of goods first to the critical limit of 10%, and then to the target of 5%, while maintaining and even increasing the absolute monetary value of exports of these goods, which is possible only if increasing exports by other product groups, identifying priority areas among such products while legislative incentives and creating a regulatory environment to strengthen the ability of domestic enterprises to compete in world markets, especially in the face of growing protectionism in response to the challenges of the pandemic. Conclusion. Summing up, we can conclude that Ukraine has created all the prerequisites for the implementation and implementation of all short-term and strategic plans for the domestic economy and a worthy place among participants in both European and global markets, subject to improving the scientific and educational system of industrial development, wider implementation of innovation processes, as well as the implementation of plans to diversify export flows.