Foreign trade of Ukraine in the conditions of the COVID-19 pandemic

Abstract

Background. The COVID-19 pandemic led to problems in all sectors of the global economy. The world's leading companies are focused on how to adapt their activities to quarantine measures, save jobs and minimize losses due to the recession. There is no doubt that the pandemic will have far-reaching negative consequences for the world economy, including Ukraine. The economic consequences predicting of an outbreak of the COVID-19 virus is a difficult task due to uncertainty and lack of reliable information.
The aim of the article is to study the development trends of Ukraine's foreign trade in goods in the context of the COVID-19 pandemic and to analyze the measures taken by countries around the world to stimulate it under these conditions.
Materials and methods. The information base of the article is presented by analytical reports of international and national organizations, statistical data, forecasts of experts. The research was conducted using general scientific methods: system analysis, synthesis, theoretical generalization and comparison.
Results. Trends in the development of Ukraine's foreign trade in goods in the context of the COVID-19 pandemic were studied. Groups of countries that have introduced restrictive measures in trade policy were identified. The complex of measures taken by the countries of the world to stimulate the economy in the conditions of a coronavirus pandemic was analyzed. Systemic and crisis obstacles in the development of Ukraine's foreign trade were highlighted. Measures to mitigate the effects of the pandemic were identified in trade and economic cooperation of Ukraine in the international arena.
Conclusion. The economic damage from the pandemic has not yet been estimated due to the further spread of the virus. Research of measures taken by countries around the world to stimulate the economy in the context of the COVID-19 pandemic have shown that developed countries are trying to restore its economies, primarily through the mobilization of financial resources, the introduction of large-scale programs to support producers and tax breaks. It was found that only some developing countries introduce temporary foreign trade restrictions to avoid shortages in the domestic market. Most other countries use economic incentives to the leveling effects of the pandemic. Ukraine has implemented economic measures against the pandemic and temporary trade restrictions. COVID-19 has a neutral effect on exports of goods, but together with other global trends has led to a reduction of critical imports.The existence of systemic and crisis gaps in Ukraine's trade policy requires immediate action in the field of trade and economic cooperation with the countries of the world.