Ukraine-EU trade turnover in agricultural products grows by 23% in H1

The Netherlands, Spain, Italy, Poland, Germany, and France were major trade partners of Ukraine over the period under review.

Trade turnover in agricultural produce between Ukraine and the European Union in January-June 2019 (H1) rose 23% year-over-year (y-o-y), to US$4.8 billion.

The simultaneous increase in exports and imports of agricultural products led to the country's relevant surplus growth to $1.9 million, the press service of the National Scientific Center "Institute of Agrarian Economy" said on August 14, referring to its deputy director Mykola Pugachov.

The Netherlands, Spain, Italy, Poland, Germany, and France became major partners of Ukraine in terms of farm produce trade over the period under review.

"Their aggregate share is 72% in agricultural products mutual trade," the press service added.

According to Pugachov, oilseeds, sunflower oil and cake, as well as meat products were the major staples of the country's shipments to Europe.

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However, there is no noticeable emphasis on any products in agri-imports to Ukraine, the expert added. So, purchases of tobacco, animal feed products, alcoholic beverages, various food products and maize for seeds were carried out to a greater extent in H1.

In addition, as of mid-July, Ukrainian exporters fully used quotas for exports to the European Union of honey, sugar, barley groats and flour, processed starch, canned tomatoes, apple and grape juices, maize (main and additional quotas), wheat, and butter.

According to experts from the Institute, tangible growth in the country's agri-exports in H1 gives serious reasons to count on updating in 2019 of Ukraine's record high agricultural food supplies to the EU that were reached in 2018.

As UNIAN reported earlier, Ukraine in 2018 increased exports of agricultural products to the EU by 8.7% to $6.3 billion.