Ukraine-EU agricultural trade reached USD 10B in 2020 – IAE

Ukraine-EU agricultural trade reached USD 10B in 2020 – IAE

Ukrinform
Trade in agricultural products between Ukraine and the European Union reached USD 10.2 billion in 2020, the National Scientific Centre "Institute of Agrarian Economics" (IAE) has reported.

Ukraine’s largest trading partners in the EU were the Netherlands, Poland, Spain, Germany, Italy, France, the United Kingdom and Belgium. Their combined share in the total domestic agricultural trade turnover was more than 80%

Imports of agricultural products from EU member states in 2020 increased by 13.4% compared to 2019, up to USD 3.6 billion. In particular, Ukraine imported beverages, mainly alcoholic ones (for USD 386 million), various food products, extracts and concentrates (USD 338 million), tobacco and tobacco products (USD 323 million), dairy products (USD 279 million), residues and waste, animal feed products (USD 236 million), cocoa beans and chocolate (USD 228 million), and finished grain products (USD 209 million).

The IAE reminded that the United Kingdom withdrew from the European Union on January 31, 2020. The EU-UK Trade and Cooperation Agreement (TCA) was signed on December 30, 2020. At the end of 2020, the Agreement on Political Cooperation, Free Trade, and Strategic Partnership between Ukraine and the United Kingdom was also signed, which came into force in early 2021. Therefore, Ukraine’s mutual trade with this country will be carried out and accounted for separately in the future, the IAE noted.

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