In 2017, total bilateral trade between the U.S. and Ukraine reached roughly $3.35 billion, according to Ukraine’s state statistical agency. Ukraine has a significant trade deficit with the U.S., with imports at $2.25 billion.
But over the last several years, trade between the two countries has grown and, while it may not be a record high as it was in 2008 at $4.8 billion, the general picture is positive, analysts say, according to the Kyiv Post.
After the EuroMaidan Revolution that drove President Viktor Yanukovych from office and Russia’s invasion in 2014, Ukraine’s gross domestic product, GDP, nosedived to $91 billion from $183 billion, a deep recession accompanied by a sharp two-thirds drop in the value of the currency.
Now the situation has stabilized, both politically and economically. Reforms in the country may still leave much to be desired, but the government has taken several important steps to ease the way for international business.