Problems of development of foreign economic activity of Ukraine’s engineering industry

The problems of development of foreign economic activity of Ukraine’s engineering industry are considered. It is determined that the most developed industries of domestic engineering are heavy and transport engineering. The existent structure of engineering is characterized by the predominance of metal-intensive industries and insufficient development of science-intensive instrument-making, radio electronics and machine-tool construction, which negatively affects the processes of innovative development of engineering industry. The main factor of worsening the state of machine-building enterprises in Ukraine are the internal problems of development: low competitiveness of products, insufficient amount of circulating assets, low labour productivity, absence of the technical retooling, high level of capital assets wear, ineffective use of present resources, reduction of investments and innovative activity. The revival of domestic engineering and strengthening of positions on the world markets depends on the effective investment policy of the state aimed at the development and modernization of production and scientific and technical potential of engineering industry. There is a necessity to orient to the internal and oversea markets and renewal of machine-building production volumes with predominance of high-tech exports.