THE ROLE OF PRODUCT QUALITY IN THE GROWTH OF FOREIGN TRADE IN PHARMACEUTICAL PRODUCTS IN MODERN CONDITIONS

Abstract

The article examines the role of product quality and its impact on exports. It is noted that quality affects the competitiveness of both products and companies. The aim is to study product quality, on the example of pharmaceutical products, as a factor in the dynamism of foreign trade in the current world economy, in particular the study of export-import operations in the pharmaceutical market between Ukraine and the EU. The article analyzes the volume of exports and imports of medical devices between Ukraine and the EU in recent years. Emphasis is placed on this group of products that are aimed at protecting public health. The importance of this sector of the economy is proved. In the article shown the dynamics of its development and dependence on crisis phenomena, pandemics on the example of the financial crisis of 2007-2008, and the anti-terrorist operation in Ukraine since 2014. Emphasis is placed on the fact that Ukraine has lost a third of its export potential, which was caused by Russian aggression. There is a positive tendency to increase trade in medical goods between Ukraine and the European Union, due to the current state of close relations between the countries. Based on the analysis of statistics on trade in medical devices, the author calculated the projected volumes of exports of medical devices to the EU for 2021-2023. For the next four years, further slow growth of foreign trade in medical devices between Ukraine and EU countries. Scenarios of development for the future are considered: optimistic, realistic and pessimistic scenarios of growth of domestic exports to the EU. The most probable realistic development scenario, which assumes a slow growth in exports of medical devices to the EU, reflects the trends of the last decade of relations between Ukraine and the EU. A pessimistic scenario will take place in the event of unforeseen events, global crises, and the possible onset of pandemics. In the article states that during the crisis, governments around the world, as a rule, may introduce measures related to trade in medical devices, which will directly affect global supply markets, change their structure. Currently, there is a gradual liberalization of the medical device market. Ukraine can benefit from the vector of European integration, which will promote economic growth.