DEVELOPMENT OF FOREIGN TRADE TURNOVER AS FACTOR OF ECONOMIC GROWTH IN CAUCASUS

The article examines the problem of foreign trade development in the regions of the North Caucasus, the economy of which is developing. The purpose of the research is to reveal the role of foreign trade in a growing economy and to establish the causes of its optimal structure violations. To achieve the goal, the methods of theoretical and empirical research were applied. The method of analysis aims to study the structure of the foreign trade turnover of the regions. The synthesis method is applied to analyze the regions foreign trade turnover ratio. The induction method is used to register the research results, foreign trade indicators are summarized; and the deduction method identifies concrete results of foreign economic activity of specific regions. The method of structural analysis of the foreign economic activity of the system of the regions, connected by historical, economic and geographical ties, is offered. In order to study the problem of imports impact on the economy of the region, an algorithm of actions on structuring GRP is proposed. The approach to the formation of a methodology for determining the impact of foreign trade on the economy is applicable to the real situation in the regions of the North Caucasus. The proposed method for determining the impact of foreign trade on the economy allows defining the level of inefficient spending in the economy as a result of GRP counting that allows establishing the extent of the impact of imports on the regional economy (C) 2019 Published by Future Academy www.FutureAcademy.org.UK