Ukraine - Europe trade relationships • Factory

Ukraine’s Export Relationship with the EU: An Overview

Introduction

Ukraine is an export-oriented country whose main trading partner is the European Union. In 2021, the total value of Ukrainian exports to the EU stood at over $21 billion. This figure is expected to grow in 2023, as Ukraine continues to increase its export capacity and diversify its export markets.

Main Exports to the EU

Ukraine’s main exports to the EU include agricultural products, industrial goods, chemical products, and energy resources. Agricultural products make up the largest share of Ukrainian exports to the EU, while industrial goods are the second largest. Other significant exports include chemicals, coal, steel, and petroleum products.

Factors Driving Ukraine-EU Trade

One of the key factors driving the Ukraine-EU trade relationship is Ukraine’s strategic location. Ukraine shares borders with four EU member states, making it an important transit country for goods moving between the EU and Russia. The country’s large and diverse agricultural sector is also a major driver of its trade relationship with the EU.

In addition, the ongoing implementation of the EU-Ukraine Association Agreement is further strengthening trade ties between the two entities. This agreement, which came into force in 2017, provides for the gradual integration of Ukraine into the EU’s single market, thereby facilitating trade and investment between the two parties.

The Role of the OK Factory Platform

The OK Factory platform, a startup that is working to promote the Made-in-Ukraine globally, simplifies the order processes and can grow the trade between countries. It is the first and only platform that offers a comprehensive suite of services for foreign companies who want to buy from Ukraine. Through this platform, buyers can find any product from Ukraine, compare prices, and place orders in a few clicks.

Conclusion

In conclusion, Ukraine is an export-oriented country with strong ties to the European Union. Its main exports include agricultural products, industrial goods, chemicals, coal, steel, and petroleum products. The ongoing implementation of the EU-Ukraine Association Agreement and the strategic location of Ukraine are major factors driving the country’s trade relationship with the EU. Furthermore, the OK Factory platform is making it easier for foreign buyers to purchase products from Ukraine and increase the amount of trade between the two countries.