Page 24 - UKRRptFeb20

5.2.1 ​Import/export dynamics
External 2007 2008 2009 2010 2011 2012 2013 2014 balance
2015 2016
2017 2018 E F
Exports (US$bn) 61.4 82.5 52.1 65.6 83.7 86.5 81.7 65.4 47.6 44.9 60.2 60.8
Imports (US$bn) 69.5 96.8 54 69.6 93.8 100.9 97.4 70 49 50.3 54.6 57.2
Trade balance -8.1 -14.4 -2 -4 -10.1 -14.3 -15.6 -4.6 -1.5 -2.9 -5.3 -6.4 (US$bn)
Trade balance -5.7 -7.8 -1.7 -2.9 -6.2 -8.2 -8.7 -3.5 -1.6 -5.8 -4.4 -5.9 (% of GDP)
Source: ICU
Ukraine and Israel can double bilateral trade to $2bn​, President Zelenskiy said on his recent trip to Israel. Last August, Zelenskiy signed a free trade agreement between the two countries. Because of Israel’s political paralysis, Israel’s Knesset, has not ratified the free trade agreement. On March 2, Israel is to have the third parliamentary election in one year.
Despite farmer complaints about EU quotas, Ukraine was by far the fastest-growing food exporter to the EU ​in the 12-month period ending last October, reports European Integration Portal. Of the top 20 exporting nations to the EU, only two achieved double-digit growth: Ukraine + 41%, to €7.3bn; and Peru +18%, to €2.6bn. With this jump, Ukraine displaced China to become the third-largest food supplier to the EU. The top two are the US +6%, to
24​ UKRAINE Country Report​ February 2020 ​ ​www.intellinews.com