Bilateral trade between Ukraine and Russia stood at 45.5 billion U.S. dollars in 2012, down from 55.5 billion dollars a year earlier, Ukrainian Economic Development and Trade Ministry said Wednesday, according to Xinhua.

"The slowdown in the global economy affects the trade relations between Ukraine and its partners, in particular the Russian Federation," Economic Development and Trade Minister Igor Prasolov said.

Russia remained Ukraine's largest trading partner, Prasolov said, adding that the two post-Soviet neighbor states will intensify efforts this year to expand their trade and promote bilateral investments.

Ukraine's main exports to Russia include engineering goods, steel, chemicals and food. Russia primarily exports gas, oil and chemicals to Ukraine.