Page 28 - UKRRptMar20

5.2.1 ​Import/export dynamics
IT exports continue to grow. In 2019 exports grew by 30.2% to $4.17bn,
slightly faster than in 2018.
Ukraine supplied $1.984bn worth of agricultural products to foreign
markets in January 2020​, which is 14% more than in January 2019, the press
service of the Ministry of Economic Development, Trade and Agriculture of
Ukraine has reported on Facebook. The bulk of agricultural exports is occupied
by grain crops (48%) and oil-bearing crops (23%). However, we are gradually
increasing the supply of finished, niche and organic products, Deputy Minister
of Economic Development, Trade and Agriculture Taras Vysotskyi said. The
top five countries that imported the most Ukrainian agricultural products in
January 2020 were China (10.2%), Egypt (10.1%), Spain and the Netherlands
(8% each), and Turkey (6.6%).
China decisively supplanted Russia last year as Ukraine’s top trading
partner for goods, according to 2019 trade figures posted by the State
Statistics Service. China was Ukraine’s top export market, taking 7.2% of
Ukraine’s exports, compared to 6.5% taken by Russia. China was Ukraine’s
top source of imports, providing 15.1%, compared to 11.5% by Russia.
Improving Russia’s case, Ukraine’s substantial trade with Belarus is probably
‘sanctions-busting’ trade with Russia.
The leading trade partners of Ukraine last year were China, Russia,
Germany and Poland​, amid an increase in both export and import numbers
for trade in goods in 2019 compared to 2018, Epravda ​reported citing official
data. Ukraine’s trade deficit increased as well, according to the country’s State
Statistics Service. In 2019, Ukraine traded goods with 227 countries, with
agriculture products remaining its largest export. In 2019,
According to the ​State Statistics Service​, 41.3% of all Ukrainian trade was
with European Union countries​: $20.75bn in exports and $25bn in import.
China remained Ukraine’s top trade partner: Ukraine exported $3.59bn worth
of goods to China and imported $9.2bn.
Russia was its second largest trade partner, with $3.24bn worth of
exported goods and $6.99bn in imports​. Agricultural products accounted for
44.3% of all export revenue. Agriculture exports increased by 12.02%
compared to 2018, particularly thanks to a 33.1% increase in the export of
crops.
Ukrainian exports of agricultural goods ​
grew 19% in 2019 compare to 2018 (Ukrainian Agribusiness Club)​.
Aiming to double Turkey-Ukraine trade to $10bn by 2023, ​the presidents of both countries placed a priority on completing a bilateral free trade agreement. “I hope we will be able to report good news very soon," Turkish President Recep Tayyip Erdogan told a bilateral business forum in Kyiv. President Zelenskiy expressed similar urgency to wrap up the 10-year-old negotiations, saying: “We have agreed to give impetus to our representatives working on the text of the free trade agreement...This will give an impetus in many areas: agriculture and food industry, housing, energy and energy efficiency, transport and tourism.”
​, ​reaching $22.2b ​
28​ UKRAINE Country Report​ March 2020 ​ ​www.intellinews.com