Ukraine’s exports of agricultural products rose by $100M in H1 2020 – IAE

Ukraine’s exports of agricultural products rose by $100M in H1 2020 – IAE

Ukrinform
Ukraine exported agricultural products worth $10.4 billion between January-June 2020, which is only $0.1 billion more than in the same period last year, the Institute of Agrarian Economics (IAE) reported.

"According to the State Statistics Service of Ukraine, exports of agricultural products between January-June 2020 remained almost the same as for the relevant period last year (+$0.1 billion) and amounted to $10.4 billion,” reads the report.

In particular, in the first quarter of 2020, Ukrainian agricultural exports were 6-8% higher than in January-March 2019, while agricultural exports during the first six months of 2020 grew only by 1%.

According to IAE, the share of agricultural exports in total exports of Ukraine in the first half of 2020 exceeds 45%.

The main importers of Ukrainian agricultural products were Asia, Africa, the European Union and the CIS. Their total share exceeded 97% of the value of Ukraine’s exports of agricultural products in the first half of 2020.

Among the largest importers of Ukrainian agricultural products in the first half of 2020 were China ($1.41 billion); Egypt ($789 million); India ($ 743 million); The Netherlands ($709 million); Spain ($583 million); Turkey ($ 45 million), Poland ($357 million); Italy ($ 302 million), Belarus ($250 million); Iraq ($ 272 million). In total, these countries provided Ukraine with about 58% of revenues from the export of agricultural products in the first half of 2020.

The main share of agricultural exports include grain crops, oil and oilseeds, leftovers, as well as meat and byproducts. Together, they accounted for more than 85% of revenues from the export of domestic agricultural products to world markets.

As reported, in the first half of 2020, Ukraine imported goods worth more than $24.3 billion (down $3.4 billion or 12% from the same period last year). Ukraine’s exports of goods for this period reached $23 billion (down $1.6 billion or 6% from the same period last year).

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