Trends of development of foreign trade activity of Vinnitsa region

Abstract

The paper analyzes the development trends of foreign trade Vinnytsia region. The analysis is based on a study of the dynamics of foreign trade performance of Vinnytsia region for 2018 - 2020 and for the first half of 2021. Vinnytsia region is characterized by upward trends in export growth, reduction of imports of goods and services, a positive balance of foreign trade. The study found that the import of goods provides the market of Vinnytsia region with scarce goods; access to cheap and high-quality finished products, raw materials, components and parts. Among the most significant exporting partners of Vinnytsia region in 2020 were China (13.1% of total exports), Poland - 9.8%, India - 6.1% and Romania - 5.2%. The difference between the dynamics of exports and imports is that export flow markets change annually depending on the situation of commodity markets, and commodity import markets are more stable and during 2018-2020 Germany, Poland, China, USA and Romania maintained their positions in the ranking of countries -importers. Entities of the Vinnytsia region mostly export livestock and crop products, food industry products. This commodity structure of exports is due to the strong potential of the region in the field of agriculture. The study noted that the reduction in imports of land transport in 2020, as well as electric and mechanical machines in 2019-2020 is not a consequence of the expansion of domestic hightech production, but only indicates the vulnerability of the economy and the region to external influences.