DYNAMICS OF THE GROSS DOMESTIC PRODUCT OF UKRAINE 2003-2023

Abstract

The article analyzes important indicators for raising the country's economy, including gross domestic product, gross product per capita to outline development prospects. The level of economic activity of the population, quality of life, financial burden on an able bodied person, and solvent demand were calculated. It has been established that the gross product has decreased, which is accompanied by a decrease in revenues to the budget, a decrease in the purchasing power of citizens, and accordingly, a decrease in the production of goods and services, and a decrease in exports. The studied indicators have a negative impact on exports and imports, we are observing the dynamics of the data shifting in the wrong direction for the country's development, and we have outlined a large dependence on imports. The authors also note the main problems faced by the national economy in 2003-2023, compared real and nominal gross domestic product. In our opinion, the specific directions of the sectoral structural policy should be focused on the development of technologies, the creation of jobs, and the effective use of available natural resources. It is noted that the indicators of the gross domestic product have a great impact on everyone in the economic environment of the country. Changes in the indicator affect all areas: from one's own finances to the investment attractiveness of the country, the possibility of growth of potential jobs. The authors determined that the rapid growth of imports since 2005, so imports in 2023 exceeded the level of 2005 by 14.47%, which significantly complicates the recovery of the economy. Attention is focused on the fact that changes should be focused on measures to intensify investments and improve the efficiency of using available financial, labor and production resources. In order to intensify the state economic policy and choose the vector of development of the country's economy, attention should be paid to the production capacity and the increase in the production of products with further sales for export.