Keyword: «import substitution policy»

The paper deals with the analysis of the current state and conditions of development of foreign trade activities of the Russian Federation. The impact of sanctions on the growing trend of import substitution in Russia and reorientation of domestic enterprises to import supplies from South-East Asia are considered. The author states the necessity to use in foreign economic cooperation the principle "Russian resources and technologies combined with foreign technologies and capital". Export and import features of foreign trade are identified. The tendencies of modern development of foreign economic activity, such as the negative dynamics of foreign trade turnover of the Russian Federation, reduction of the number of participants in foreign economic activities, reduction of foreign trade volumes in physical terms are studied.

The article discusses the impact of the sanctions imposed by Russia in 2014 on food products of a number of countries in Europe and the USA on the development of the domestic agricultural complex. The authors evaluate the effectiveness of the import substitution policy in Russia based on the analysis of the dynamics of agricultural production, import intensity of the food sector, and the balance of export-import food operations. The authors come to the conclusion that, in general, the import substitution policy is promising for implementation in Russia, however, at the moment, it is impossible to give an unambiguously high assessment of its effectiveness based on the indicators analyzed.