Theoretical aspects of modeling the foreign economic activity of Ukraine

Foreign economic activity of Ukraine is a lever for the economic growth by creating favorable conditions for a balanced government budget; promoting the improvement of the state’s competitiveness; and improving social wellness. The main structural element of foreign economic activity is foreign trade, because of the scale of the financial level and of promoting the development of external relations between countries, including integration ones. Economic and mathematical modeling of the processes of foreign economic activity, primarily foreign trade, will contribute to its sustainable development. The article is devoted to the theoretical aspects of modeling foreign economic activity, with the aim of improving foreign trade indicators and Ukraine’s integration processes in the future. The updated internal, external and related indicators of influencing factors on the national economy were formed while the theoretical component of the economic and mathematical model of the development of foreign economic relations was researched. The adjusted risks of impact on foreign economic activity were identified, taking into account current conditions. In the article was analyzed the foreign economic activity effects on the economic development of Ukraine. The proposals to optimize the further development of Ukraine’s foreign economic activity by its modeling were forming based on the results of the research. These proposals are relevant in need to stabilize the national economy during the war and for the post-war economic development through cooperation with partner countries and consolidating the position of a stable trade and investment partner. The recommendations were formulated for the implementation of a scenario development of foreign trade activity, with the aim of improvement of foreign economic relations and economic progress. A technology for using the model of foreign trade has proposed.