Copyright © 2024

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Ukrainian export to EU compensates for decreased export to Russia

Ukrainian export to EU compensates for decreased export to Russia

Ukrainian‬ Foreign Minister Pavlo Klimkin has said that ‪‎Ukraine‬‘s exports to the EU has significantly increased thanks to unilateral trade preferences by the EU.

“We know what effect the further implementation of EU preferences will be: statistics shows that an increase in export to EU countries actually compensated for a fall in the export to the countries of the [Russia-led] Customs Union. We hope that our joint actions with the EU will make this effect even stronger soon, that we will enter the European market in the sectors where the potential is so far low,” he said, opening a meeting of the council of exporters and investors under the Foreign Ministry in Kyiv on 30 September.

Klimkin said that it was important to focus efforts because the Ukrainian export to and trade with the countries of the Customs Union “is falling fairly radically as a result of restrictions against us on this market caused by Russia‬‘s aggressive actions”.

The Ukrainian foreign minister mentioned the importance of an effective implementation of the EU association agreement, which was ratified by the Ukrainian parliament.

The European Union’s Delegation to Ukraine recently released a report in which the changes in Ukraine’s exports to the EU and Russia are analyzed. It was found that exports to the EU increased over 25% for the period May-June 2014 as compared to the same period of the previous year, and that the agricultural sector benefited the most, while exports to Russia decreased by 24.5% over the first 6 months of 2014. The report shows that over the period May-June 2014 Ukraine’s exports to Russia dropped from 2.6 bn$ to 2.0 bn$ and exports to EU rose from 2.3 bn$ to 2.9 bn$ compared with the same period of the previous year.

Geographic comparison; (c) EU Delegation to Ukraine
Geographic comparison by value; (c) EU Delegation to Ukraine
Product by product comparison (c) EU Delegation to Ukraine
Product by product comparison in terms of value (c) EU Delegation to Ukraine

Meanwhile, Ukraine’s exports to Russia dropped from as a result of retaliatory measure from Russia, but the 587 m$ gained from increased exports to the EU almost offset the decrease of exports to the Russian market of 592 m$.

Impact of retaliatory measures from Russia: Product-by-product comparison (c) EU Delegation to Ukraine
Impact of retaliatory measures from Russia: Product-by-product comparison by value (c) EU Delegation to Ukraine
You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here

    Will the West continue to support Ukraine?
    • Know what moves the world.
    • Premium journalism from across Europe.
    • Tailored to your needs, translated into English.
    Special discount
    for Euromaidan Press readers
    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts