exports

The article analyses the dynamics of Ukraine's GDP in the light of social and political challenges of recent years. Ukraine's GDP dynamics were negatively affected by the COVID-19 pandemic and the ongoing full-scale russian invasion. The factors that caused a slowdown in economic growth in most regions of the world are also outlined: large-scale quarantine measures, supply chain disruptions, the abolition of fiscal stimulus for economic development, and tight monetary policies of central banks in developed countries.

In the current conditions of globalization and European integration, the need for the development of innovative economy and activation of export activity, innovation capacity is one of the key drivers of export diversification towards science-intensive products. An important prerequisite for starting and developing export activity is not only the availability of sufficient innovation potential, but also the willingness, need and feasibility of introducing and commercializing innovative products in foreign markets.

In terms of the balance of payments deficit and a deep devaluation of the hryvnia, the problem of expansion the existing sources of foreign currency inflows in Ukraine's economy has become relevant. Permanent excess of demand over supply of foreign currency in the domestic currency market in recent years has necessitated additional financial resources from abroad.