Analysis of the Foreign Trade Activity Dynamics of the Nizhny Novgorod Region

<p>In recent years changes of world economy&#39;s model, transformation of global economic and financial communications&#39; system are observed. In the world markets, competitiveness becomes stronger, priorities and directions of international cooperation change. In these conditions foreign trade activity has a crucial role for national economies and regions. It is acknowledged that foreign trade is one of the most essential factors determining the outcomes and the evolution of any national economy. It has long been considered powerful instruments to promote development as it opens up new markets and permits the expansion of productive capacity and higher levels of income and employment. Increasing international trade is important to the further globalization. Without international trade, nations would be limited to the goods and services produced within their own borders. Due to its importance, the foreign trade is a major focus for statistical analyses. Today regions become more independent in the implementation of foreign economic activity, so foreign trade activity analysis is very actual, especially for the largest industrial center of Russia - the Nizhny Novgorod region. This paper is devoted to the study of issues related to the dynamics of the foreign trade turnover of the Nizhny Novgorod region, the peculiarities of the commodity composition of foreign trade, detection of the largest exporters and importers of the region, as well as the forecast of foreign trade cooperation&rsquo;s development of the region with other economic actors.</p>