Analysis of trends and identification of problems in the development of foreign economic relations of the region (on the example of the Vologda oblast)

In the current socio-economic situation in the world, one of the key factors ensuring the growth of regional economies is the development of foreign economic relations, including the cross-country movement of goods, services, technology, information flows, financial resources, exchange of management experience. In order for the economic policy aimed at the development of foreign economic relations between the regions to be successful, it is first of all necessary to substantiate it scientifically, to investigate the possible consequences of the changes taking place and the options for the implementation of certain actions. The purpose of the work is to analyze the tendencies and problems of the Vologda Oblast’s foreign economic relations development. The theoretical aspects of foreign economic relations development are studied, two main scientific approaches - territorial and socio-economic - are highlighted. The foreign economic relations within the framework of the research are understood as the economic, social and economic interaction of the states, which is based on the principles of the international division of labor. The analysis of statistical data is carried out, which allows to describe the basic tendencies and to identify the problems of development of the Vologda Oblast’s foreign economic relations. Based on the results of the data analysis received during sociological surveys, the main directions of the development of foreign economic relations between Russia and the Vologda Oblast in the current socio-economic situation are identified, including the establishment of interaction with Asian countries (China, Indonesia, Vietnam), while the development of economic relations with Western European countries, the USA and Canada can be hindered. The results of a retrospective analysis of foreign trade activities in the Northwestern Federal District indicate that the Vologda Oblast ranks fourth in terms of foreign trade turnover and export share in GRP among other regions of the district. A study of import and export activities has indicated that there is a significant preponderance in favor of non-CIS countries and a considerable lag in the development of economic relations with CIS countries, which may negatively affect the region’s sustainable economic growth in the current situation.