Poland has replaced Russia as the top destination of Ukrainian goods during the first quarter of 2019, according to Ukraine’s state fiscal agency.
During this period, Ukraine has exported $818 million worth of goods to Poland, against $759 million to Russia. This constitutes a milestone in Ukraine’s trading history as Russia has been the top importer of Ukrainian goods since Ukraine gained its independence in 1991.
Among the top five destinations for Ukrainians exports during the first quarter are Egypt with $652 million, followed by China with $640 million and Turkey with $638 million.
Ukrainian companies have exported a total of $12.3 billion worth of goods since the beginning of the year, which constitutes a seven percent increase compared to the same period last year.
These dynamics might change however throughout the rest of the year depending on the country’s trade relations and performance. The low Russia export figure could also be a reflection of Russia’s embargo on Ukrainian imports – over 50 agricultural and industrial products – which Moscow put into place in December 2018.
Numbers could go even lower during the second quarter as Moscow’s second and latest ban of Ukrainian imports – worth approximately $250 million – comes into force on June 1.
But despite Russia’s increasingly aggressive trade war, Ukraine continues to boost its global exports.
With $4 billion worth of exports in January, Ukraine currently has a trade surplus of $20.9 million, according to Ukraine’s Economy Ministry.
Year-over-year, exports have grown by 9.2 percent, with agricultural products and ferrous metals leading the way. These goods made up around 60 percent of total exports during January and have earned Ukraine a total $2.45 billion.
