International experience and opportunities for adapting innovative approaches to monitoring foreign economic activity in modern Ukraine

Momot Vasyl
PhD student, Department of trade entrepreneurship, commodity science management, Odesa National Technological University, Odesa, Ukraine, E-mail: Vasyamomot1@gmail.com, ORCID: https://orcid.org/0009-0009-1897-4173

Cite this article:

Momot V. (2024) International experience and opportunities for adapting innovative approaches to monitoring foreign economic activity in modern Ukraine. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Mizhnarodnyj dosvid ta mozhlyvosti adaptacii u suchasnij Ukraini innovacijnyh pidhodiv do monitoryngu zovnishnoekonomichnoi dijalnosti; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 12 (325), pp.99-107.

Abstract

This article aims to analyze innovative foreign economic activity (FEA) monitoring algorithms in comparison with traditional methods, and to develop recommendations for the implementation of modern technologies – such as big data, artificial intelligence, and blockchain – to enhance the competitiveness of Ukrainian enterprises in international markets. A comparative analysis was conducted, complemented by the systematization of international experience and examination of global practices in applying advanced technologies to FEA monitoring. Statistical data were supplemented by evaluating specific cases of successful technology integration in leading world economies. The study shows that traditional FEA monitoring methods, relying on manual data collection and expert assessments, are limited under rapidly changing market conditions. In contrast, innovative algorithms automate data analysis, accurately predict risks, and allow for real-time strategy adjustments. International experience, for example in the United States, the EU, and Japan, demonstrates that such technologies increase transparency, reduce customs clearance times, optimize logistics, and improve demand forecasting. The article provides a systematic comparative review of traditional and innovative FEA monitoring approaches and identifies key factors guiding the transformation of monitoring systems. By highlighting the strategic role of technology-driven solutions and their global integration, the study contributes to the theoretical framework for modern FEA monitoring. The findings and recommendations support the development of national strategies for FEA digitalization, the creation of innovative data analysis platforms, and the expansion of Ukrainian exports. They offer actionable guidance on minimizing risks, improving efficiency, and increasing transparency in foreign economic activities, particularly amidst Ukraine’s post-war recovery.

Keywords

innovative approaches, foreign economic activity monitoring, big data, artificial intelligence, blockchain, export, monitoring algorithm, international experience.

JEL classification: F170; O330; L860; DOI: https://doi.org/10.32680/2409-9260-2024-12-325-99-107

UD classification: 339.56+004.8

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