Trade turnover of agricultural products between Ukraine and the EU increased by 35%
15.10.2022 - 13:40
During 8 months, the trade turnover between Ukraine and the European Union reached 9.2 billion dollars.
“In January-August 2022, the turnover of trade in agricultural goods between Ukraine and the European Union increased by 35% compared to last year’s figures for the corresponding period and reached 9.2 billion US dollars,” the press service of the National Research Center “Institute of Agrarian economy”.
The balance of trade in agricultural products increased to the level of 4.9 billion US dollars, as the increase in domestic exports (+2.8 billion US dollars) overlapped with a decrease in the cost of purchases from representatives of EU member states (-0.4 billion US dollars).
Poland, Romania, the Netherlands, Spain, Italy, Germany, Bulgaria and Hungary are the main trade partners in the segment of agricultural products for Ukraine among the EU states. Ukraine’s aggregate turnover with these countries is almost 83%.
The list of key European partners of Ukraine also changed in 2022. In particular, Romania, Bulgaria and Hungary joined it, but France left. The institute explained that this was influenced by a change in domestic priorities, the relative safety of logistics in the conditions of the russian invasion, and the blockade of Ukrainian seaports.
