Reasons and consequences of restructuring the textile industry of Ukraine in the conditions of globalization

The article reveals the causes and consequences of accumulated problems in the development of the textile industry of Ukraine. The analysis of the state of the global textile market is presented. The processes of transferring centers of infl uence in the industry mainly from developed countries to developing countries are studied. The critical dependence of textile production on imported raw materials and semi-fi nished products is established. Attention is drawn to the need to strengthen the domestic raw material base, the revival and cultivation of fl ax, industrial hemp. The state of the implementation of foreign trade transactions in the industry is characterized the intensity of the fl ow of investment to strengthen its potential is investigated. Attention is focused on the need to strengthen the role of the state in supporting the development of the textile industry. Recommendations on further restructuring of the textile industry as an eff ective tool to increase its competitiveness have been developed.