Turnover of trade in agricultural products between Ukraine and the EU decreased by 5.1%

Published 2020년 8월 6일

Tridge summary

Ukraine's agricultural trade with the European Union has seen a decline due to reduced exports and increased imports, resulting in a decrease in the country's positive trade balance to $1.4 billion. The country's trade is predominantly with the Netherlands, Poland, Spain, Italy, Germany, and France, accounting for approximately 75% of the total trade volume. The main exports include grain, oilseeds, oils and fats, residues and waste from the food industry. However, there is no clear commodity structure in imports to Ukraine. Despite a decrease in the first half of 2020, it is expected that significant changes in trade volume may occur in the latter half of the year, largely influenced by the new season's harvest.

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Original content

Mykola Pugachev, a corresponding member of NAAS, deputy director of the National Research Center "Institute of Agrarian Economics", informs about it, the press service of the institution reports. "The decrease in exports and the increase in imports led to a corresponding decrease in Ukraine's positive balance to $ 1.4 billion," the statement said. Six countries remain the largest trading partners for Ukraine in the EU - the Netherlands, Poland, Spain, Italy, Germany and France. Their total share is about 75% of the turnover of mutual trade in agricultural goods. "The main volumes of supplies to the European Union are provided by Ukraine at the expense of grain ($ 1 billion) and oilseeds ($ 145 million), oils and fats ($ 957 million), residues and waste from the food industry ($ 227 million)," Pugachev said. It should be noted that there is no clear commodity structure in imports to Ukraine from European countries. "From the beginning of 2020, domestic exporters have fully used the ...

Source: MilkUA