In the first 9 months of 2021 the volume of trade in agricultural products between Ukraine and Asia increased against last year’s figures for the corresponding period by 20%, reaching $10 billion, Deputy Director of the Institute of Agrarian Economics Mykola Pugachov informed, ProAgro reports
He also noted that our country’s trade surplus increased to $8 billion thanks to the growth of domestic export (+$1.5 billion), which exceeded the growth of imports from the Asian region (+$0.1 billion).
“The main trading partners for Ukraine in Asia in the context of exports this year are China, India, Turkey, Indonesia, Saudi Arabia, Iran, Iraq, Pakistan and Israel. Altogether these countries accumulate more than 4/5 of the value of our sales to this region,” said Mykola Pugachov.
As food suppliers, domestic importers make the largest value of purchases in Turkey, Indonesia, China and India, which account for 76% of all Asian imports.
“Since Asia is the largest market for Ukrainian agri-food products, the commodity structure of our exports in this region is quite reflective of the overall. It is represented mainly by grains and oilseeds, oil, residues of food processing industry and meat products. But from Asian countries Ukraine imports mainly exotic fruits, palm oil, oilseeds, tea and coffee”, – informed the expert.