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Russia remains Ukraine's main trade partner in first quarter of 2014

August 20, 2014, 14:28 UTC+3 KIEV
Ukraine’s exports to Russia in the first quarter dropped by almost one-fourth, compared with the same figure in 2013
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© ITAR-TASS/Dmitry Rogulin

KIEV, August 20. /ITAR-TASS/. Russia remained Ukraine’s main trade partner in the first quarter of 2014, leaving China and Germany far behind, the National Bank of Ukraine said on Wednesday.

The bilateral trade volume over this period exceeded $6.7 billion, NBU said.

According to the bank, Russia’s share in the total trade turnover of Ukraine in the first quarter reached 21.7%, while the share of China was a mere 6.8% and Germany’s share - 4.9% Ukraine’s imports from Russia accounted for more than four billion dollars and exports - $2.7 billion dollars.

Ukraine’s exports to Russia in the first quarter dropped by almost one-fourth, compared with the same figure in 2013, but all the same reached 18.7% of Ukraine’s total exports. Ukrainian imports from Russia also decreased by 26% and reached 24% of Ukraine’s total imports.

In general, countries of Europe ($4.9 billion, 10% growth) and the Commonwealth of Independent States (CIS - $4.08 billion, 25% decline) were the main importers of Ukrainian goods in the first quarter of the year.

The prevailing items among the exports to the CIS are machine building products (56.8%), chemical industry products (53.4%) and wood processing products (49.7%). Europe buys from Ukraine mineral products (salt, sulphur, graphite, etc. - 43.4%), manufactured goods (55.8%), ferrous and non-ferrous metals (32.7%).

Ukraine’s export to the United States, though, accounted for just 425 million dollars, an almost 20% decline from the 2013 figure.

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