trade facts and figures

Among the Commonwealth of Independent States,( the CIS, which was formed after the dissolution of the Soviet Union), Ukraine ranks second as a trade partner of India, with Russia being the first. Ukraine is a long time player in the Indian market, as even before the dissolution of the Soviet Union, its specialists and enterprises were actively participating in the making of India’s power sector and heavy industry. Ukrainian industries like Novo- Kramatorskiy,

a machine building company and Azovmash manufactures and supplies metallurgical equipment to India. A world renowned company Tourboatom supplies hydro, thermal and nuclear power plant equipment to Indian industries. Other industries like Motor-sich and Zaria Mashproekt have a good reputation in India

Ukraine has seen an increase in foreign trade in the last four years. It has trade relations with around 200 countries spread all over the world. Total foreign trade turnover, for the year 2005, between Ukraine and the other countries, was 79.5 billion USD. Compared to 2004, the trade turnover increased by 13.1%, exports increased by 6.4% and imports grew by 25.7%. India ranks 11th as a trade partner of Ukraine and 1.5% of the total trade turnover of Ukraine is through trade with India.

Trade and economic co-operation between India and Ukraine has its basis in the friendly relations between the two countries and has been developing at an extremely fast rate. Between 2003 and 2005 trade turnover between the two countries increased three fold and exceeded one billion USD. The trade turnover in 2005-2006 between these two countries has now crossed the 1.2 billion USD mark.

It is interesting to note that import from Ukraine to India has increased 3.6 times that is, it has increased by 736.9 million USD. The export from India to Ukraine has increased by two times and the sum it has increased by is 324.1 million USD. The balance of trade has been in Ukraine’s favour.

The commodities mostly imported by India from Ukraine are chemicals, fertilizers, ferrous metals, power equipment (including for nuclear reactors), steel, steel-related equipment, aluminum, railway equipment, medical equipment, vegetable oils, paper products, electrical equipments, etc. India on the other hand exports pharmaceutical products, tobacco, coffee, tea and spices, cosmetics and toiletries, natural rubber, bovine meat, plantation crops, readymade garments, machinery and instruments, leather and leather products, cotton yarn, fabrics and other textile items, agricultural products, plastic & linoleum products, packaged edibles etc.

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