Ukrainian exports to the EU are increasing
Overall, exports have fallen by 11% over the first five months in 2016, but exports to EU countries have increased by 4.5%.
In the first five months of 2016, the export of goods from Ukraine fell by 11.5% in comparison to the same period in 2015, and made $13.7 billion, the Ministry of Economy reports.
“The results of the first five months of 2016, as compared with the same period in 2015, show that the export of goods fell by 11.5% and made $13.7 billion. A significant slowdown in the decrease of exports can be observed, compared to January 2016, when this indicator was 31.9%,” the report says.
The Ministry of Economy notes that agricultural products and foodstuffs (41.3% of exported goods), metal products (22.8%) and heavy engineering products (12.2%) make up the largest share of exported goods. The European Union was Ukraine’s major trading partner in the export of goods. Meanwhile, Russia’s share made up 8.8%.
Exports to the European Union continue to grow; the volume of goods exported to EU countries has increased by 4.5% over the same time period in 2015, representing $231.2 million.
The largest increases have been seen in agricultural products and foodstuffs, with an increase of $350 million; heavy engineering products ($54.2 million); various industrial products ($51 million); and light industry products ($33.5 million). As previously reported, the export of agricultural products from Ukraine to EU countries has increased by 24% compared with this time in 2015, and has made $1.8 billion.