Ukraine increased its export and import numbers for trade in goods in 2019 compared to 2018, but the trade deficit for goods increased as well, according to the State Statistics Service.
Ukraine traded in goods with 227 countries in 2019. The leading trade partners were China, Russia, Germany and Poland. Agriculture products remain Ukraine’s largest export.
In 2019, Ukraine exported goods worth $50.06 billion, which is 5.8% more than in 2018. It imported $60.78 billion worth of goods, 6.3% more than in 2018.
This means that the country’s trade balance for goods remains negative: -$10.72 billion. This deficit increased compared to 2018, when it stood at -$9.85 billion.
According to the State Statistics Service, 41.3% of all Ukrainian trade was with European Union countries: $20.75 billion in exports and $25 billion in import.
China remained Ukraine’s top trade partner: Ukraine exported $3.59 billion worth of goods to China and imported $9.2 billion.
Russia, the country that has been waging war against Ukraine since 2014, was its second largest trade partner, with $3.24 billion worth of exported goods and $6.99 billion in imports.
Germany is Ukraine’s number three trade partner with $2.38 billion in exports and $5.99 billion in imports of goods.
Out of the four top trade partners, Ukraine has the best trade balance with Poland: $3.3 billion in imports and $4.1 billion in exports of goods.
Ukraine has the most positive balance of trade in goods with Egypt ($2.14 billion in trade turnover), India ($1.28 billion) and the Netherlands ($1.08 billion).
Agricultural products remained Ukraine’s largest export sector in 2019, accounting 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.
The export of metallurgical products, the second largest export area, decreased by 11.8%.
Ukraine’s export figure for both goods and services in 2019 was $63.67 billion, having increased by 11.2% compared to 2018. Imports increased by 10.6% to $67.3 million. The trade balance for goods and services improved, but still remains negative: -$3.6 billion.
