FOREIGN ECONOMIC ACTIVITIES OF EUROPEAN UNION ENTERPRISES

Abstract

The involvement of national economies in international economic relations is gaining more and more importance in today's dynamically changing world trends. The increasingly wider opening of economies to foreign markets is an objective fact caused by the strengthening of the globalization process in the world. The key unit of the economy of any country is a separate economic unit - an enterprise. In this sense, foreign economic activity takes priority in its development and functioning. Today, foreign economic activity is considered an important branch of the national economy, which has a significant impact on the economic development of the country.

Foreign economic activity covers a wide variety of forms, methods and means of entering international markets. Regardless of the specifics and features, the ultimate goal is to get the maximum profit. The difference between foreign economic activity and the economic practice of national peers lies in the fact that the counterparties belong to different countries. Export is one of the most common methods of internationalization of the enterprise.

The analysis shows that there are significant differences in the composition of enterprises engaged in trade in various types of economic activity. In the EU, the highest shares of bilateral traders were recorded for a wide range of different manufacturing activities. Whereas for most services, it was more common to find that the largest proportion of trading businesses were importers only.

In an ever-changing world, businesses must have the reflex to regularly review their situations. Adopting an effective strategy for planning the enterprise's foreign economic activity will contribute to long-term goals and ensure the enterprise's profitability.