Trade Relations Between Ukraine and the European Union

by Roman Cheplyk
Tuesday, December 21, 2021
Trade Relations Between Ukraine and the European Union

The share of trade in goods and services with the EU amounted to 41% of the total trade volume of Ukraine

In the structure of exports, the largest share is occupied by ferrous metals (15.2%), grain crops (12.7%), machinery and equipment (11.1%). Compared to 2018, grain exports increased by 18.2%, while metals — decreased by 15.3%, machinery, and equipment — by 2.6%.

The export of fats and oils increased by 35% compared to 2018, and the export of oilseeds and fruits by 32.3%.

In the first quarter of 2020, exports of fats and oils increased significantly — almost 78%, and energy materials — nearly 21%, compared to the same period in 2018.

In the structure of imports from the EU countries, the largest share is made up of nuclear reactors, boilers, machines — 13.3%, means of land transport, except for railway — 13.0%, and energy materials — 10.8%.

"According to the European business association of Ukraine, last year was the mildest for the country compared to other countries. The foreign trade balance has improved, that is, compared to previous periods, imports have decreased, while exports have increased. The European Union accounts for 41 percent of Ukraine's foreign trade. That is, it is our largest trading partner," said the prime minister of Ukraine Denis Shmyhal.

As previously reported, in 2019, Ukraine became one of the three leading exporters of poultry meat to the EU countries.

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