Hidden trends of economic development of Ukraine industry

A retrospective analysis of the authors’ studies on technological development problems and industrial production efficiency in Ukraine is held. It has been proved that the industrial enterprises efficiency is not just low, but there is not even technological development foundation in the economic mechanism of their functioning. It is shown that the greatest increase in the innovative products sales volume is achieved due to investment in the external knowledge acquisition and the least profitableactivity is the purchase of equipment. The article suggests the ways to improve the industrial enterprises efficiency and the effectiveness of their innovation activities. It is proved, that the optimization (reduction) of investments in the purchase of machinery and equipment and the increase in funding of such directions of innovative activity of industrial enterprises as ?The acquisition of external knowledge? may be appropriate.