Abstract:

Foreign economic activity of a region is an important component of economic development. Further socio-economic development of the region and the welfare of its inhabitants largely depend on the role the region plays in foreign markets in the face of growing competition and globalization. The article presents the analysis of foreign economic activity of the Republic of Karelia based on the constructed the ADL-model reflecting the dependence of the main indicators of the region's foreign trade activity on the influencing factors. The model can be used for forecasting and developing the foreign economic strategy of the Republic of Karelia for the future.