Analysis of development of food industry in Ukraine

Article aimed to investigate the tendencies of development and functioning of food industry in Ukraine based on the information of the State Statistics Service of Ukraine and articles from experts. The methods used in the research process. A systematic approach and methodology of economic, statistical and economic-mathematical analysis were applied to study trends and dynamics of macroeconomic indicators of food industry in Ukraine. The results of the work. The main indicators of activity of food industry enterprises in Ukraine for the period 2010-2016 and the level of its inter-sectoral competitiveness were analyzed. The tasks, strategic objectives and methodology for strengthen the position of the food industry on the global and domestic markets were substantiated. Conclusions. The food industry is one of the leading sectors of domestic economy involved in the food security of the state, the formation of its export potential and can positively influence the economic growth in Ukraine. The decline in the efficiency of financial-economic activity within food industry in the last seven years mainly concerned individual sub-sectors, product groups and regions. Despite the loss of some foreign markets, Ukrainian producers are expanding the geography of export and increase the profits from export activities. Problematic element of the sector is innovative-investment activity due to the reduction in investment expenditures from budget and increased funding from own and borrowed funds, unstable financial conditions, lack of government investment strategy, the imperfection of the legislation. An increase in the production of innovative products does not cause saturation of domestic market. In addition, there are other factors constraining the development of the food industry. Adequate conclusions and strategic decisions on the basis of the conducted researches will allow to adjust the direction and factors influencing effectiveness of financialeconomic activity of food industry.