Import dependence of Ukraine's economy: determinants and risks

Abstract

Background. The article is devoted to the issue of import dependence of the domestic economy. The study was conducted on the basis of studying the vectors of the impact of imports on the development of the national economy and analysis of import consumption in the economy of Ukraine.
A review of scientific sources shows that there are discussions among scientists about the impact of imports on economic development. The issues of ensuring the competitiveness of domestic products in terms of import expansion are studied. At the same time, the trends of import dependence of the domestic economy need to be studied.
The aim of the study is to assess the trends of import dependence of the Ukrainian economy.
Materials and methods. The following research methods are used in the scientific article: axiomatic (when substantiating certain provisions as initial axioms), statistical (to establish the dynamics of the main indicators of Ukraine's foreign trade, commodity and geographical structure of imports). The information base of the research was the works of domestic scientists, materials of the World Bank, the UN Conference on Trade and Development, the State Statistics Service of Ukraine, etc.
Results. The article analyzes dynamics of commodity and geographical structure of imports of goods to Ukraine. The structure of the use of imports in the economy of Ukraine is estimated. The key tendencies of import dependence of the domestic economy are identified.
Conclusion. Among the key trends of import dependence of the domestic economy should be noted: long-term dominance of imports over domestic production, which in terms of price and quality competitiveness is inferior to imported counterparts in price, and thus, the displacement of domestic producers from the domestic market of Ukraine; high level of dependence of Ukrainian industry on goods for intermediate consumption; the low share of imports in the gross formation indicates a low level of supplies of the advanced technologies and equipment from abroad and the renewal of technological potential due to domestic equipment; the oversaturation of imported goods in the domestic market of non-food products, which indicates the inability of domestic producers to fully meet consumer demand for quality and level of manufacturability.
Keywords: import dependence, import, export orientation, foreign trade, domestic market.