TIME DESCRIPTION OF ECONOMIC REFORMS

The study of foreign trade of the EAEU member countries with third countries is justified by the need to increase its effectiveness. It is necessary for fully State budgets revenue generation, competitiveness increasing of national economies and improving standards of the EAEU member states. The purpose of the article is to analyse and evaluate the economic parameters of the EAEU member states foreign trade and outline main trends and prospects for the EAEU's foreign trade development. The object of the study is foreign trade relations between the EAEU member states and third countries. Methods used in the study. The study was conducted on the basis of program and reporting documents of the Eurasian Economic Commission. Official statistical data for the period from 2014 to 2018 were used. The conclusions are based on economic comparisons and systematization. Research hypothesis. Foreign trade economic indicators of the EAEU member states with third countries have potential reserves of growth. Statement of the main material. Single customs regulation is used in accordance with the EAEU Customs Code. Export customs duties are regulated by national legislation of the EAEU member states. Import customs duties are paid and distributed to the budgets of the EAEU member states according to the standards. The analysis of the economic parameters of foreign trade development of the EAEU member states showed that the EAEU's foreign trade has a tendency to increase, but has not yet reached the 2014 level. Exports dominated in the structure of the EAEU's foreign trade turnover and mainly represented by mineral products to the European Union countries. Originality and practical value. The prospects for foreign trade development of the EAEU member states with third countries are seen in the EAEU export volumes increasing with definition of priority product groups. Conclusion. The diversification of foreign trade of the EAEU member states is possible through exports of high-tech products. Foreign trade increase is possible through the EAEU's trade and economic expansion with other countries and integration associations.

foreign trade, EAEU, turnover, third countries, exports, imports, integration

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