Strategising the behavior of exporters in target global markets

Анотація

International trade is an important component of economic growth, so it is important to find an effective way to enter international markets that will bring positive results in both the short and long term. The study provides recommendations on how exporters should enter international markets, as exports enhance economic development and a country’s position in the global economy. Nowadays, the issue of entering the international market is closely related to the tools for supporting and promoting exports, as the market is highly competitive. The article identifies economic and additional incentive instruments for export promotion. Economic instruments include financial and tax instruments, while additional incentives are based on the use of administrative and marketing measures. An important part of the work is the analysis of global trends in commodity exports, which make it clear the importance of specific commodity sectors. The study also includes methods and indicators for assessing the effectiveness of the export support system, which allows countries to measure the impact of export support and promotion activities, as the effectiveness of instruments for one country will not always have the same effectiveness in another country. Since the start of the full-scale invasion, Ukrainian exporters have faced many challenges, which is why effective strategy is of paramount importance for the country’s development. One of the biggest problems in Ukraine’s exports is the high volume of raw material exports and the high number of imported value-added products, which is why the issue of export support and promotion is a relevant topic of research. The key regions for Ukrainian exports were selected in this study: European, Asian, American, African, Australian and Oceania. The choice of regions is based on the strategy of diversifying export markets. Ukraine already needs to minimise risks in international trade in order to avoid risks that may arise when it joins the European Union, as our national economic interests closely overlap with other countries of this integration association. The recommendations provided to Ukrainian exporters have been adapted to specific parts of the region that have certain peculiarities. At the end of the description of important aspects for entering the market of a particular region, promising sectors have been suggested based on the importance of this industry for the country or region.

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