Ukraine, China to reach trade volume of $10 bln in five years

Ukraine, China to reach trade volume of $10 bln in five years

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Ukrinform
Ukraine and China can reach a trade volume in the amount of USD 10 billion during the next five years.

In January-August 2018, the Ukrainian-Chinese bilateral trade in goods increased by 21% and amounted to about USD 5.8 billion, the Ministry of Economic Development and Trade of Ukraine informed on Twitter.

"China is our strategic partner. For eight months of 2018, the Ukrainian-Chinese bilateral trade in goods increased by 21% and amounted to about USD 5.8 billion. Over the next five years, Ukraine and China can reach a trade volume of USD 10 billion. China International Import Expo 2018 is another step to strengthen trade and economic ties between business circles of our countries," the report reads.

In 2017, China ranked second (after Russia) in terms of commodity turnover among all countries of the world. The share of the trade volume from China in Ukraine’s foreign trade in 2017 amounted to 8.28% of the total turnover of Ukraine, in 2016 - 8.62%.

In 2017, according to the State Statistics Service, the bilateral trade turnover amounted to USD 7.7 billion and increased by 17.9%. At the same time, the exports of goods from Ukraine to China amounted to USD 2.4 billion and increased by 11.3%. The imports of Chinese goods to Ukraine amounted to USD 5.6 billion and increased by 20.5%. The negative balance for Ukraine in this period amounted to USD 3.6 billion.

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