China Overtakes Russia To Become Ukraine’s Largest Trading Partner

The volume of trade between Ukraine and China has reached USD 2.55 billion.

China’s share of Ukraine’s foreign trade reached USD 2.55 billion or 10.6% of the total and 0.9% more than Russia’s share at the beginning of 2019.

This is stated in foreign-trade statistics released by the National Bank of Ukraine, the CFTS portal reports, citing Hromadske.

China has thus overtaken Russia to become Ukraine’s largest trading partner.

The volume of trade between Ukraine and the Russian Federation amounted to USD 2.34 billion or 9.7% of Ukraine’s total trade turnover at the beginning of 2019 (11.5% in 2018).

According to the National Bank of Ukraine, Ukraine has a trade deficit with both China and Russia (Ukraine sells fewer goods to these countries than it buys from them). In the first three months of 2019, the total volume of imports from China amounted to USD 1.93 billion and the total volume of exports to the country was USD 621 million. Ukraine purchased goods worth USD 1.75 billion from the Russian Federation and sold USD 592 million to it during that period.

In addition, according to the National Bank of Ukraine, the Ukraine’s largest trading partners also include Germany, Poland, Belarus, Turkey, and the United States.

As the CFTS portal reported, the Kernel company shipped a record volume of sunflower meal from Ukraine to China (63,000 tons) in May.

CFTS