Ukraine Trade Overview


The second largest European federation, Ukraine is one of the globally thriving economies of the world with reportedly increasing import and export trade rates. Ukraine has been a source of attraction for the people across the globe mainly for its rich culture and tradition influenced by the Ukrainian and Russian rulers of the early era. The European Federation Ukraine is spread over a land area of 603,550 square kilometers which exceeds its borders in different directions and leads to nations like Russia, Belarus, Poland, Slovakia, Hungary, Romania, and Moldova in the east, west-northwest, south, and southeast direction.

The trade rate of Ukraine has been on a significant rise for the past few years leading to exponential growth in its balanced economy. Accompanying the trade rates the finance sector including tourism also accounts for a massive share in the revenue generation due to the presence of famous tourist spots like Saint Sophia Cathedral and Struve Geodetic Arc representing the ethnicity of its ancient rulers dating back to thousands of years ago. The rapidly evolving economy of the nation has recorded an import and export value of 86.5 billion US dollars and 68 billion US dollars leading to a GDP of 180 billion US dollars in 2023 according to the Ukraine Import Data.

Top Traded Commodities of Ukraine

The European nation has been focusing more on its traded products globally after figuring out its massive share in the annual revenue generation. Trade commodities result from increased domestic demands and the boost in production in the industries. As per the Ukraine Customs Data, the top imported and exported products of the nation in 2023 with its trade values are discussed below,

Imports

• (HS code - 27)Mineral Fuels – The annual trade amount of import generated by Mineral Fuels in 2023 – 15 billion US dollars.

• (HS code - 84)Machinery– The annual trade amount of import generated by Machinery in 2023 – 13 billion US dollars.

• (HS code - 85)Electrical machinery and equipment– The annual trade amount of import generated by Electrical machinery and equipment in 2023 – 9 billion US dollars.

• (HS code - 87)Vehicles– The annual trade amount of import generated by Vehicles in 2023 – 7 billion US dollars.

• (HS code - 29)Pharmaceuticals– The annual trade amount of import generated by Pharmaceuticals in 2023 – 4 billion US dollars.

• (HS code - 07)Vegetable products– The annual trade amount of import generated by Vegetable products in 2023 – 4 billion US dollars.

• (HS code - 95)Plastic and Plastic products– The annual trade amount of import generated by Plastic and Plastic products in 2023 – 3 billion US dollars.

• (HS code - 72)Iron and steel– The annual trade amount of import generated by Iron and steel in 2023 – 2.5 billion US dollars.

• (HS code - 29)Organic chemicals– The annual trade amount of import generated by Organic chemicals in 2023 – 2 billion US dollars.

• (HS code - 90)Optical and medical instruments– The annual trade amount of import generated by Optical and medical instruments in 2023 – 1 billion US dollars.

Exports

• (HS code - 72)Iron and steel – The annual trade amount of export generated by Iron and steel in 2023 – 14 billion US dollars.

• (HS code – 11)Cereals– The annual trade amount of export generated by Cereals in 2023 –9 billion US dollars.

• (HS code - 15)Sunflower oil– The annual trade amount of export generated by Sunflower oil in 2023 – 7 billion US dollars.

• (HS code - 72)Ferroalloys– The annual trade amount of export generated by Ferroalloys in 2023 – 6 billion US dollars.

• (HS code - 84)Machinery– The annual trade amount of export generated by Machinery in 2023 – 5 billion US dollars.

• (HS code - 85) Electrical equipment – The annual trade amount of export generated by Electrical equipment in 2023 – 4 billion US dollars.

• (HS code - 07)Fruits and vegetables– The annual trade amount of export generated by Fruits and vegetables in 2023 – 3 billion US dollars.

• (HS code - 44)Wood products– The annual trade amount of export generated by Wood products in 2023 – 2 billion US dollars.

• (HS code - 27)Mineral fuels– The annual trade amount of export generated by Mineral fuels in 2023 – 1.5 billion US dollars.

• (HS code - 29)Chemicals– The annual trade amount of export generated by Chemicals in 2023 – 1 billion US dollars.

Top 10 Trade Supporting Factors of Ukraine

The globally evolving trade rate of Ukraine is growing exponentially because of some significant factors that influence international trade.  As per the Ukraine Trade Data, the top 10 trade-supporting factors of Ukraine are discussed below,

• Geopolitical Location

• Natural Resources

• Strategic Partnerships

• Industrial Growth

• Membership in International Organizations

• Skilled Labor Force

• Modern Infrastructure

• Diversified Economy

• Government Support

• Proximity To the EU market

Top 10 Trade Destinations of Ukraine 2023

The trade rate of Ukraine is facilitated by the top trade destinations for its annual revenue, according to the Ukraine Export Data the top trader partners of Ukraine in 2023 with its trade values are discussed below,

• Russia – The trade value of products traded with Russia from Ukraine is worth 23 billion US dollars.

• China – The trade value of products traded with China from Ukraine is worth 18 billion US dollars.

• Poland – The trade value of products traded with Poland from Ukraine is worth 12 billion US dollars.

• Germany – The trade value of products traded with Germany from Ukraine is worth 10 billion US dollars.

• Turkey– The trade value of products traded with Turkey from Ukraine is worth 9 billion US dollars.

• Italy – The trade value of products traded with Italy from Ukraine is worth 8 billion US dollars.

• Belarus – The trade value of products traded with Belarus from Ukraine is worth 7 billion US dollars.

• Netherlands– The trade value of products traded with the Netherlands from Ukraine is worth 6 billion US dollars.

• Hungary – The trade value of products traded with Hungary from Ukraine is worth 5 billion US dollars.

• Romania – The trade value of products traded with Romania from Ukraine is worth 4 billion US dollars.

Comments

Post a Comment

Popular posts from this blog

Get Import Export Information Mexico

Are you planning to do import export business with Mexico? If so, you need to have thorough knowledge of the market scenario of Mexico before venturing into business. Access to the Latest Import Export Data from a good data service provider will help you get clear inputs about trade dynamics of the country. If you are an importer in Mexico and want to imports goods, it is important you get real-time details of custom and statistical data. Mexico Import Data will help you to have clear picture of import value of the country, import partners, shipment data, custom data, statistical data, HS codes, competitors, country of origin and many key details that will help importers plan calculative business moves. If you are an exporter and plan to export goods, Mexico Export Data will help you understand the export status of the country. It gives insights about the buyers of the traded products. Authentic, real time and flawless export data help the exporters to stay ahead in the race. By usi
Read more

Importance of Turkey Import Export in Trade Data Business

Are you planning to do trade business with Turkey? If so, it is very important to know the trade dynamics of the country so that you can make informed business decisions. Here comes the need of Turkey Global Import Export Data details on real-time basis for successful international trade expansion. Turkey Import Data is collected of statistical information about each company’s business activities. It is based on the shipping bills, import bills, invoices and other import export documents. The data provides a bird’s eye view of the commodities that are imported or exported in Turkey. The Turkey import and export data contains information about price, HS code, importers’ details, exporters’ details, custom data, shipment data, competitors’ data, product description and quantity. Know the importance of Turkey import export data 1. The authentic and real-time import export data is used to estimate the consumption pattern of Turkey. The businesses can predict the local demand of commoditi
Read more

Russia Import Export Statistics 2023

  Russia's trade activities were significant, with both exports and imports playing crucial roles in its economy. Here's a general overview: Exports: Energy Resources: Russia is renowned for its vast energy resources, particularly oil and natural gas. These resources constitute a substantial portion of Russia's export revenue. Russia Export Data Minerals and Metals: Russia also exports various minerals and metals, including iron ore, coal, aluminum, and copper. Arms and Military Equipment: The country is a significant exporter of arms and military equipment to various countries around the world. Agricultural Products: Russia exports agricultural commodities such as wheat, barley, and other grains. Imports: Machinery: Russia imports machinery and equipment for industrial purposes, including machinery for manufacturing and infrastructure development. Russia Import Data Consumer Goods: Like many countries, Russia imports various consumer goods such as electronics, clothi
Read more