Trade in Ukraine - statistics & facts
Ukraine continues to play a significant role in the world’s exports of agricultural products, ferrous and non-ferrous metals, machinery, and chemicals during the Russia-Ukraine war. The country ranks among the leading barley exporters and the major exporters of wheat, flour, and wheat products. Moreover, it is the fifth-largest exporter of corn worldwide, estimated to supply 21 million metric tons in the marketing year 2023/24. Ukraine has been a member of the World Trade Organization (WTO) since 2008.
The outlook for Ukraine's foreign trade remains negative due to the war, its damage to Ukraine's infrastructure, manufacturing equipment, as well as transportation and logistics, as well as rising prices of raw materials. As a result, the main exporting industries like agriculture and metallurgy are expected to decrease their production output and shipments abroad.
The Russia-Ukraine war impact on Ukraine's foreign trade
Following the Russian invasion of Ukraine in 2022, several Western countries and organizations suspended customs tariffs and duties on selected products from Ukraine to support its economy and facilitate imports from the country. However, besides security and economic challenges, Ukraine's international trade is threatened by supply route disruptions. After the Russian government suspended the Black Sea Grain Initiative that enabled Ukrainian agri-food exports via the Black Sea, Ukraine has been using alternative trade routes, such as via its Danube ports. Furthermore, European Union (EU)-Ukraine Solidarity Lanes were established to provide financial support to infrastructure projects and transportation agreements between the EU, Ukraine, and Moldova.Key trade partners of Ukraine
The largest share of Ukraine's revenue from trade in goods came from exports to and imports from European countries, at over 56 percent in 2023. Asia was the second-leading trade partner region, having accounted for roughly 30 percent of the total. China was Ukraine's leading export destination, while Poland was the major supplier of goods. Together, China and Poland accounted for over 23 percent of Ukraine's total trade revenue in 2023.Leading export commodities and services of Ukraine
Agricultural products are the main commodities exported from Ukraine. In 2023, the country sold agricultural products worth 22 billion U.S. dollars abroad. Furthermore, the country's iron and steel industry significantly contributes to export earnings. As for the services exported from the country, their total value decreased to around nine billion U.S. dollars in 2022. Telecommunications and transportation constituted the largest share of Ukraine's services exports.The outlook for Ukraine's foreign trade remains negative due to the war, its damage to Ukraine's infrastructure, manufacturing equipment, as well as transportation and logistics, as well as rising prices of raw materials. As a result, the main exporting industries like agriculture and metallurgy are expected to decrease their production output and shipments abroad.
