CURRENT GEOPOLITICAL CHALLENGES AND THEIR IMPACT ON UKRAINE’S FOREIGN ECONOMIC ACTIVITY

Abstract

The article examines modern geopolitical challenges and their impact on the development of Ukraine’s foreign economic activity. Various scientific approaches to the interpretation of the essence of the concept of «geopolitics» are analyzed. The author’s definition of the concept of «geopolitics» as a separate scientific direction that studies the influence of economic, geographical, technological, political factors on international relations, foreign policy of countries and the distribution of power in the world is proposed. The main geopolitical challenges of today are analyzed, including military-‑political conflicts, energy crises, trade wars, migration crises, cyber threats and changes in global supply chains. The peculiarities of the structural transformation of Ukrainian exports, the change in the geography of trading partners and the adaptation of the national economy to new geo-economic conditions are determined. Thus, the main foreign trade partner of Ukraine is the EU with the largest share in the export and import of Ukraine. Particular attention is paid to the role of integration processes with the European Union, the development of alternative logistics routes and the digitalization of economic processes. The consequences of modern geopolitical challenges for Ukraine’s foreign economic activity are analyzed, namely: increased human losses, destruction of infrastructure, economic decline, increase in energy prices, economic instability, social tension, infrastructure overload, inflation, restructuring of supply chains. Ways to overcome them in conditions of geopolitical instability are proposed, in particular through the active use of international diplomacy and international sanctions, the development of renewable energy and the diversification of suppliers; implementation of integration programs for migrants and international cooperation; negotiating, seeking consensus and diversifying international commodity markets.