The AA/DCFTA aims to boost trade in goods and services between the EU and Ukraine by gradually cutting tariffs and bringing Ukraine’s rules in line with the EU’s in certain industrial sectors and agricultural products.
The EU is Ukraine’s largest trading partner, accounting for more than 40% of its trade in 2019. Ukraine is the 18th trading of the EU accounting for around 1,1% of EU’s total trade. Total trade between EU and Ukraine reached €43,3 bn in 2019.
Ukraine exports to the EU amounted to €19.1 bn in 2019. The main Ukraine exports are raw materials (iron, steel, mining products, agricultural products), chemical products and machinery. This is a considerably increase of 48,5% since 2016.
The EU exports to Ukraine amounted to over €24.2 bn in 2019. The main EU exports to Ukraine include machinery and transport equipment, chemicals, and manufactured goods. EU exports to Ukraine have been subject to a similar impressive increase since 2016 of 48,8%.
The number of Ukrainian companies exporting to the EU has increased at an impressive rate, from approximately 11,700 in 2015 to over 14,500 in 2019.
Trade Statistics Source: European Commission