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Ukraine's agricultural trade with Asia increased by 20%

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According to the news on of Ukraine on November 30, the website of the Institute of agricultural economics of the National Academy of Agricultural Sciences of Ukraine reported that from January to September 2021, the trade volume of agricultural products between Ukraine and Asia reached US $10 billion, a year-on-year increase of 20%. The trade surplus expanded to US $8 billion because Ukraine's exports to the region grew faster than its imports from the region. Asia's main import trading partners are China, India, Turkey, Indonesia, Saudi Arabia, Iran, Iraq, Pakistan and Israel, which account for more than 4 / 5 of Ukraine's agricultural products exported to the region. The countries with large import volume from Asian countries are Turkey, Indonesia, China and India, accounting for 76% of the import share.

Asia is the largest exporter of Ukrainian agricultural products, mainly including grains, oilseeds, vegetable oil, food processing residues and meat products. Experts predict that in 2021, Ukraine's agricultural exports to Asia may exceed last year, reaching US $10.9 billion, and there is still potential to be tapped.

Source: Economic and Commercial Department of the Embassy in Ukraine