State and Prospects for Sverdlovsk Region’s Foreign Economic Activity under Global Uncertainty

Abstract

The paper analyzes the foreign economic activity of the Sverdlovsk region, defines the main trends, problems and features of its development. The importance of the Russian region in providing mechanisms to respond to the crisis amid sanctions is emphasized. The author shows how the impact of economic sanctions changes the region’s trade development strategy. It is determined that the value of imports decreases due to the export-oriented economy of the region. The need for joint projects with participation of foreign partners, attracting foreign investment, modernizing equipment and diversifying the region’s economy in order to expand foreign trade of the Sverdlovsk region and strengthen its position in the selected foreign markets is justified.