Ukraine flag Ukraine: Economic and Political Overview

Foreign trade figures of Ukraine

Foreign Trade in Figures

Ukraine is a very open economy, with a share of foreign trade in the country's GDP of 79% in 2020 (World Bank). Ukraine is the world's fifth largest exporter of grains and one of the main exporters of iron and steel. In 2020, the main exported products were sunflower seeds (10.8% of exports), corn (9.9%), iron (8,6%), wheat (7.3%), steel and oils. The main imported products were vehicles (6.5%), petroleum oils (6.3%), medicaments (3.7%), coal (3.1%), petroleum gas, electrical apparatus and pesticides (Comtrade). After dropping in 2020 due to the COVID-19 pandemic, trade volumes rebounded in 2021. The volume of exports of goods and services increased by 11.8% compared to 2020, and imports increased by 9.5% (IMF). The IMF expects imports to increase by 10.2% in 2022, faster than exports (7.6%).
Overall, foreign trade has been hardly hit by the conflict with Russia, which has traditionally been a major supplier of oil and gas, accounting for almost a quarter of the country's total imports. Ukraine is seeking to develop its trade relations with the member states of the European Union, with a view to emancipate from Russia. The EU and Ukraine have provisionally applied their Deep and Comprehensive Free Trade Agreement (CCFTA) since January 2016. The EU is the destination of 36.5% of Ukraine’s total exports and the origin of 42% of the country’s imports (WTO). China has now become Ukraine's main trading partner, before Russia. In 2020, China accounted for 15.4% of Ukraine's imports, followed by Germany (9.9%), Russia (8.5%), Poland (7.6%), the United States (5.5%) and Belarus (5.4%). Ukraine's main customers are China (14.5% of exports), Poland (6.7%), Russia (5.5%), Turkey (4.9%), Germany (4.2%), India (4%) and Italy (3.9%) (Comtrade).
According to WTO data, in 2020 Ukraine exported USD 49.2 billion worth of goods and imported USD 53.9 billion worth, recording a trade deficit of around USD 6.6 billion. Exports of services reached USD 15.2 billion, while imports amounted to USD 10 billion. In addition to the COVID-19 pandemic, political issues negatively impact trade.

Foreign Trade Values 20162017201820192020
Imports of Goods (million USD) 39,15149,60957,04660,60753,929
Exports of Goods (million USD) 36,36443,26547,34850,06649,220
Imports of Services (million USD) 11,18512,23113,80914,90410,035
Exports of Services (million USD) 12,39413,86015,53617,15415,224

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20162017201820192020
Foreign Trade (in % of GDP) 105.5103.799.190.479.1
Trade Balance (million USD) -6,942-9,663-12,714-14,261-6,604
Trade Balance (Including Service) (million USD) -6,453-8,744-11,378-12,511-1,790
Imports of Goods and Services (Annual % Change)
Exports of Goods and Services (Annual % Change) -1.73.8-1.37.3-5.6
Imports of Goods and Services (in % of GDP) 56.255.753.949.240.1
Exports of Goods and Services (in % of GDP) 49.348.

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20212022 (e)2023 (e)2024 (e)2025 (e)
Volume of exports of goods and services (Annual % change)
Volume of imports of goods and services (Annual % change) 9.510.

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

International Economic Cooperation
Ukraine is a member of the following international economic organisations: Organization for Democracy and Economic Development (GUAM), IMF, Black Sea Economic Cooperation Zone (BSEC), WTO, Eurasian Economic Community (EAEC) (observer), among others. For the full list of economic and other international organisations in which participates Ukraine click here. International organisation membership of Ukraine is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by Ukraine can be consulted here.

Main Partner Countries

Main Customers
(% of Exports)
China 14.5%
Poland 6.7%
Russia 5.5%
Turkey 4.9%
Germany 4.2%
See More Countries 64.2%
Main Suppliers
(% of Imports)
China 15.4%
Germany 9.9%
Russia 8.5%
Poland 7.6%
United States 5.5%
See More Countries 53.1%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.


Main Products

49.2 bn USD of products exported in 2020
Sunflower-seed, safflower or cotton-seed oil and...Sunflower-seed, safflower or cotton-seed oil and fractions thereof, whether or not refined, but not chemically modified 10.8%
Maize or cornMaize or corn 9.9%
Iron ores and concentrates, incl. roasted iron...Iron ores and concentrates, incl. roasted iron pyrites 8.6%
Wheat and meslinWheat and meslin 7.3%
Semi-finished products of iron or non-alloy steelSemi-finished products of iron or non-alloy steel 5.6%
See More Products 57.8%
53.7 bn USD of products imported in 2020
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 6.5%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 6.3%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses incl. those in the form of transdermal administration or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.7%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal 3.1%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 2.7%
See More Products 77.7%

Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.


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Latest Update: June 2022