Subject. This article discusses the issues of realizing the potential of the regional economy in the context of increasing competition in national and international markets. Objectives. The article aims to assess the impact of external and internal factors on the economic situation of the Samara Oblast. Methods. For the study, we used statistical and content analyses. Results. The article finds that the Samara Oblast maintains specialization in traditional sectors (mining and manufacturing industries); however, the percentage of commodity production in the gross regional product is increasing. Global trends, internal diversification, and the strengthening of scientific and production potential are the key factors in the transformation of the Oblast's economic sector structure. Conclusions. Investments in high-tech industries and adjustments to the strategic priorities of the Oblast's socioeconomic development are necessary to enhance the competitiveness of the Samara Oblast's economy.
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