Indian Journal of Science and Technology

Abstract

Background/Objectives: It is interesting to study theories revealing the principles of effective participation of national economies in the international commodity exchanges, the factors of competitiveness of separate countries in global market. Methods/Statistical Analysis: In the article, on the basis of statistical analysis, the authors assess Russia’s participation in international trade in the current situation of economic and political dependence of Russian economy from other countries, which particularly confirms the imposition of economic sanctions by the EU. Findings: The necessity of optimization policies, as an effective tool for the recovery of the Russian economy is import substitution. The different levels of import substitution in the country, region, cluster, organization. The problem of import substitution of the national economy is defined as the direction of the country’s transition from raw orientation to the creation of modern innovative industries with deep processing of raw materials and production of finished products. Application/Improvements: Analysis and solution of these problems is especially important for Russia and other countries that went path of creating open economy, oriented on active participation in international trade.

Keywords: Economic Sanctions, Export, Foreign Trade, Import, Integration Process, Open Economy, Trends