Indian Journal of Science and Technology

Abstract

Objectives: This article substantiates the problem of development of the foreign trade turnover as the factor of an economic growth. The purpose of the study is to model an optimal structure of the foreign trade turnover. Methods: The authors applied a systematic approach, the methods of analysis and synthesis, the method of an economic modelling. Findings/ Results: It was proposed to introduce the notion of “the price of import” into scientific discourse which jointly with the real price of imported goods comprises the realized price of these goods. The approach to modelling the situation in the region’s economy changing under the influence of changes in the structure of the gross domestic product was proposed. The uniqueness of the study is a proposal made for developing countries about a necessity of a differentiated approach to importing in its classic definition and entry of basic daily products. Significance: The “price of import” proposed for introduction into scientific discourse allows the cost of the import, if it is reasonable in the existing economic situation or it is better to use these funds for organization of production. The model of valuation of the gross domestic product being influenced by the import and export allows evaluating the situation in the foreign trade turnover of the region.

Keywords: Export, Foreign Economic Activity, Foreign Trade Turnover, Import, The Price of Import