exports and imports

Today the European Union is Ukraine’s biggest trading partner and their annual bilateral trade amounts to USD 22 billion while that of Ukraine and Russia stand at USD 20 billion.

Ukraine’s major export partners are Russia, Turkey, Italy and USA. Its percentage of trade with each of these countries in 2006 is; Russia – 21.2%, Turkey -6.9%, Italy – 6.3% and USA – 4%. One fourth of Ukraine’s total exports are to Russia and the other CIS countries while one third of its exports are to the European Union.

The major import partners of Ukraine are Russia, Germany, Poland, China and Turkmenistan. Their share in Ukraine’s import market in 2006 is; Russia – 28.4%, Germany – 11.7%, Poland -11.6%, China – 7.1% and Turkmenistan -5.7%. One third of the total imports to Ukraine is that of oil and gas from Russia.

Some helpful information which would help investors looking for a start up in the import-export business in Ukraine:

Goods imported into Ukraine are subject to custom duties, excise tax (if applicable) and value added tax (VAT).
Ukraine has a free trade agreement with Russia and other CIS countries.
Ukraine will join the World Trade Organisation (WTO) by the end of 2007.

The Ukrainian government encourages foreign investment in the import export industry. The government has brought about reforms in the legal system which are meant to help this industry but the changes have been sluggish and their implementation erratic. To enable this industry to flourish, the government needs to look into all factors which act as a deterrent to investors and work on rectifying these and improving the infrastructure.

Home    About Us    Services    About Ukraine Economy    India Ukraine Trade    Contact Us   Business query     SiteMap
Copyright© pacificservices.in