This is the 965th most frequent Russian word.
существует
"Exists."
In this sentence, "существует" is used to indicate the presence or occurrence of the problem over time.
Эта проблема существует уже много лет.
This problem has existed for many years.
Here, "существует" emphasizes the existence of a unique category of plants in a particular location.
На этой планете существует особый вид растений.
A special type of plant exists on this planet.
In this case, "существует" is used to convey the presence or recognition of a certain belief or viewpoint.