Photo from UNIAN
Ukraine in January-September 2017 increased revenues from agricultural exports by almost 25% year-over-year, to $13.1 billion, the press service of the National Research Center "Institute of Agrarian Economics" reported with reference to its deputy director, Doctor of Economics Mykola Puhachov.
According to the expert, grain and oilseeds, sunflower oil, as well as food and processing industry products are the determining positions in the commodity structure of domestic agrarian exports. Their cumulative share in agrarian exports is about 90%.
"The main markets are the following three regions – the countries of Asia, the European Union, and Africa, accounting for some 90% of the cost of Ukrainian exports of agricultural products," the press service quoted Puhachov.
"About one-third of exports of agricultural products, or 32.1%, is to the EU member states. Over the nine months of 2017, they purchased Ukrainian food products worth $4.2 billion," the report says.
The press service also reported that exports to Africa amounted to $2 billion, or 15.3% of the total exports of agrarian products.
The expert noted that the growth in the value of exports of Ukrainian agrarian products in January-September 2017 relative to the previous year was observed in all areas.
"Most of all, the volume of supplies increased to the EU, that is by $1.2 billion. Export to Asia grew by $0.7 billion, as well as to African countries - by $400 million," the press service quoted Puhachov.
He also added that the trend prevailed of revival of agri-exports to the CIS countries against a steady decline in the previous years. The countries of this region in January-September of 2017 imported Ukrainian food products worth almost $1.0 billion, or 7.6% of the total agri-exports.
The expert noted that Ukrainian exporters also received significant revenue from the Netherlands ($887 million), Spain ($805 million), China ($721 million), Turkey ($617 million), and Italy ($559 million). These countries in January-September 2017 provided more than 46% of revenues from Ukraine's agri-exports.
The press service also said that the Asian countries traditionally remained the main importer of Ukraine's agricultural products as they bought Ukrainian food products worth $5.5 billion in January-September 2017. Asia accounted for 42.0% of Ukraine's agri-exports.
"Over the 9 months of 2017, India traditionally topped the rating of importers of Ukraine's agricultural products, having purchased Ukrainian food products worth $1.44 billion. The runner-up is Egypt, which has imported agricultural products from Ukraine worth $1.04 million," reads the report.