The features of economic potential of Kharkiv region and its components

Abstract

Economic potential is a combination of existing and readily available for mobilization major sources of the country (region), elements of potential of integrated economic system that are used and can be used for economic growth and socio-economic progress. In terms of provision and overall economic potential the regions of Ukraine are very different. Kharkiv region has a high level of economic development. The total economic potential of Kharkiv region can be estimated at 24444 million (as of 2011). In the new conditions of economic modernization, social and cultural life, Kharkiv region seeks to preserve its unique potential to gain a new quality of regional identity based on historical traditions and global trends in the world. Despite the distance from the center of the country to Kharkiv region, favorable climate conditions, rich natural resources and favorable geographical location at the crossroads of Eastern Europe provides the benefits for international trade. The region focused a large part of the economic potential of the country. Companies of almost all industries are operating in Kharkiv region, including leading in Ukraine engineering, instrument-making, fuel and electrical energy, agriculture and manufacturing. Well- developed infrastructure enhances the economic potential of the region. Thus, all this determines the relevance of further socio-economic research in Kharkiv region.