INNOVATIVE TECHNOLOGIES IN INTERNATIONAL TRADE

Abstract

Introduction. Globalization and the development of e-commerce are transforming the international market and the global economic system. Today, the world is becoming increasingly interconnected due to the digital platforms and marketplaces that are erasing national borders. International trade is being transformed by transnational digital giants through cross-border e-commerce. Studying these processes helps us to understand the new dynamics of interaction between countries and businesses.

The scientific understanding of digitalization not as a set of technologies, but as a new institutional model of the economy is relevant, but insufficiently studied. Solving these problems can help formulate an effective digital development strategy and adapt national legislation to the requirements of the global market.

The aim of this article is to analyze the impact of the latest technologies on international trade and to examine contemporary digital tools in the global digital economy.

Materials and methods. This study is based on an analysis of current scientific and practical literature. The methodological framework of the research comprises a set of methods and techniques, including induction and deduction, analysis of online resources, comparative analysis, generalization and abstraction, as well as comprehensive and systematic approaches.

Results. The study showed that, overall, the impact of innovative technologies on international trade is not unambiguous: in addition to obvious advantages, they also create new challenges that different countries experience to varying degrees. Technologically advanced economies reap the benefits, whereas countries with transition economies face barriers to implementation: high costs of solutions, a shortage of specialists, underdeveloped logistics infrastructure and a fragmented regulatory environment. A key factor of the successful integration of innovations into international trade is not only the adoption of technologies, but also the ability of the state and business to ensure appropriate institutional conditions, compatibility standards, human capital development and a balance between regulation and the promotion of innovation.

Prospects. Solving the challenges requires a systematic approach to digitalization understanding not as a set of technologies, but as a new institutional model of the economy. The practical meaning implies the fact that addressing these issues will help to increase volume of exports digital services and goods through e-commerce channels, to attract investment in the technology sector, to reduce business transaction costs, and to simplify Ukrainian companies’ entry into foreign markets.