INCREASING THE EXPORT POTENTIAL OF REGIONS IN THE CONTEXT OF EXOGENOUS CHANGES

Abstract

The article dwells on the issues of increasing the export potential of Russian regions due to emerging economic restrictions and ongoing global exogenous changes. Objective: The study aims at creating an algorithm for improving the efficiency of regional exports, including: increasing sales of existing export goods, searching for new international trading partners, and launching global business projects. Methods: The current structure of exports and the export potential of Russian regions were analyzed as exemplified by the North Caucasian Federal District. The research materials include statistical reports posted in the public domain by the Federal Service of State Statistics and the Russian Export Center. Results: Based on the analysis conducted, a matrix of criteria for selecting partner countries is proposed. It highlights priority areas of foreign trade, promotes strategic decisions for the best development of exports, and determines the optimal criteria for finding an exporting country. Conclusion: The custom matrix can contribute to the development of exports and the export potential of a particular region based on the revealed elements in modern conditions.