KEY PRIORITIES OF UKRAINE'S FOREIGN TRADE ACTIVITIES

Abstract

The article examines the key trends and structural changes in Ukraine’s foreign economic activity under conditions of prolonged economic instability and wartime challenges. Special attention is paid to the analysis of export and import dynamics of goods during the period 2020–2024, which reflects both the impact of global shocks and the consequences of Russia’s full-scale invasion of Ukraine. The study shows that in 2024 the European Union market finally consolidated its position as the main destination for Ukrainian exports. The share of the EU in the geographical structure of Ukraine’s goods exports increased significantly, from 39.3% in 2021 to 59.5% in 2024, indicating a deepening of trade reorientation toward European markets.

Despite the positive dynamics of export redirection, the article emphasizes a number of persistent structural problems. A substantial share of Ukrainian exports continues to consist of raw materials and semi-finished products, i.e. goods with low added value, which limits export revenues, technological development, and long-term competitiveness. The paper identifies the main barriers constraining the expansion of Ukrainian exports, including logistical disruptions caused by damaged infrastructure and blocked transport routes, currency regulation restrictions imposed under martial law, and a shortage of qualified labor resulting from mobilization, migration, and demographic losses. In addition, insufficient effectiveness of state financial instruments to support exporters and the reluctance of foreign partners to cooperate due to heightened military and security risks negatively affect export performance.

The article argues that Ukraine’s export policy should serve as an organic continuation of business initiatives rather than function in isolation. Although Ukrainian producers are not yet members of the European Union, many of them already operate in accordance with European technical, environmental, and quality standards. This creates a unique competitive advantage, enabling domestic firms to integrate more rapidly into EU and global value chains. By effectively leveraging human capital, natural resource potential, and a favorable geographical location, Ukraine can strengthen state export policy, stimulate structural transformation of exports, and scale up the production of higher value-added goods and services that are in growing demand on international markets.