Ukraine reduced exports to Russia by 78%

From 2013 to 2019, Ukraine decreased exports of goods to the Russian Federation by 78% and increased exports to the European Union by 78%.

President of the Kyiv School of Economics, Adviser to the Head of the President’s Office Tymofiy Mylovanov said this at the All-Ukrainian Forum "Ukraine 30. International Relations,” an Ukrinform correspondent reports.

“Between 2013 and 2019, exports of goods to the European Union increased by 24% and decreased by 78% to Russia. We do not count the year 2020 because it was the year of the pandemic. That is, we have increased exports to the European Union and reduced them to Russia, but in general, we have not yet been able to replace those losses from exports to Russia at the expense of the EU. However, I am sure that it will happen," he said.

According to him, at present the European Union is Ukraine's largest trading partner, with a share of about 40%. The share of the Asian market, especially China, is also growing rapidly, and it totaled 33% as of 2019. Russia's share is only 6% of the previous 23%.

Since the Association Agreement between Ukraine and the EU was signed, Ukraine has begun exporting more agricultural and ready-to-eat foods instead of metals and minerals.

"Our association agreement, in addition to all known factors - political, economic and investment, allows us to restructure our foreign trade from Russia to the EU on favorable terms. Moreover, it also has a structural impact on domestic markets,” Mylovanov concluded.

As Ukrinform reported, over the first six months of 2021, eleven export markets opened for Ukrainian producers.

iy

UkrInform

Ukraine and world news. Ukrinform brings the latest news, daily news, political news, business news, social news, cultural news, sports news, international news

https://www.ukrinform.net/

Related news
Capitol Police officer shares emotional testimony

Capitol Police officer shares emotional testimony

Sergeant Aquilino Gonell shares an emotional firsthand account during a House committee hearing into the January 6th Capitol riot. #CNN #News

FBI survey evidence as probe into assassination shows signs of coverup.

FBI survey evidence as probe into assassination shows signs of coverup.

Haitian judicial sources tell CNN there are severe irregularities occurring throughout the investigation into the killing of Haiti's president Jovenel Moise. CNN's Matt Rivers looks into what appears to be an ongoing effort to obstruct the investi...

Surprise! Trump’s ‘election fraud’ fundraising is not what it seems.

Surprise! Trump’s ‘election fraud’ fundraising is not what it seems.

Former President Donald Trump talked a good game about fundraising to fight “election fraud,” but not all of the funds raised by his political PAC are being used for that purpose. In the latest episode of The Point, CNN’s Chris Cillizza explains w...

Biden speaks to Intelligence Community workforce

Biden speaks to Intelligence Community workforce

Pres. Biden visits the Office of the Director of National Intelligence, where he will address the Intelligence Community workforce and its leadership #FoxNews Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News ...

Lindsey Graham slams Biden admin for not having Border Patrol's back.

Lindsey Graham slams Biden admin for not having Border Patrol's back.

South Carolina Republican weighs in on the increase of COVID-19 cases at the border on 'The Story' #FoxNews Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24-hour all-encompassing news se...

Rep. Davis sounds off on unanswered questions surrounding Jan. 6

Rep. Davis sounds off on unanswered questions surrounding Jan. 6

Rep. Rodney Davis, R-Ill., Pelosi-appointed January 6 Select Committee, says that lingering questions surrounding the Capitol riots must be resolved. Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (...