Methodological Approach to estimation of Macroeconomic Risks in the Implementation of Foreign Trade Operations

Resumen

The article summarizes the theoretical and practical issues of the optimization process and risk management in the implementation of foreign economic activities at the enterprise. When writing the article, we offered a method for assessing country economic and political risks based on an analysis of sovereign ratings of the countries identified by leading international rating agencies, such as: Standard & Poor”™s, Moody”™s and Fitch, as well as the analysis of the news background in relation to a particular country for the rapid identification of possible restrictions in the sphere of bilateral trade. As a result, we developed three main strategies to minimize such risks. After that, we offered a method to minimize possible marketing risks by interviewing key clients of the company and identifying the main risks. To minimize customs risks, we offered a method for the step-by-step determination of the customs value and aggregate customs payment on the basis of current regulatory and legal documents. The next stage was the assessment of possible currency risks, we offered a technique based on historical volatility of the value of currencies, gave a corresponding formula, proposed the main instruments for minimizing currency risks, such as a forward foreign exchange contract, currency option and their derivatives.