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Economic cooperation
01 March 2021 19:12

After a period of decline due to the Russian military aggression against Ukraine, a certain growth was demonstrated in 2016, when the import of goods reached 84,71 million USD making up 112,4% as compared to 2015. Export of services totalled 33,34 million USD (124%) while import of services equalled 72,94 million (147%). At the same time, the export of goods remained on the decrease and equalled 45,48 million USD, which made up 77% as compared to 2015.

In 2017 the total volume of bilateral trade in goods and services demonstrated growth by 37% as compared to 2016 and reached 324,4 million USD. The trade balance for Ukraine was negative and reached 106,2 million USD.

Export of goods arrived at 55,3 million USD making up 122% of the total volume of 2016. Import of goods totalled 113,9 million USD making up 134% correspondingly.

Export of services reached 53,8 million USD (168%) while import of services arrived at 101,4 million USD showing 134% as compared to 2016.

The growth of bilateral trade volume continued in 2018 reaching in a total of 511 million USD which signalled an increase of more than 36% compared to 2017.

Export of goods arrived at 77,51 million USD, which made up 140% as compared to 2017. Import of goods totalled 143,83 million USD making up 126% correspondingly.

Export of services reached 56,14 million USD (168%) while import of services arrived at 233,51 million USD showing 228% as compared to 2016.

In 2019, the aggregate volume of trade increased by 34,3% as compared to 2018 and reached 715,6 million USD.

Export of goods in 2019 almost doubled and reached 153,2 million USD (197,7%). Import of goods amounted to 169,6 million USD or increased by 118% as compared to the corresponding period of 2018. Export of services made up 86,8 million USD or 148% while import of services amounted to 306 million USD or 121% as compared to the corresponding period of 2018.

According to the State Statistics Service of Ukraine, the total volume of trade in goods and services in 2020 decreased by 5.39% compared to 2019 and amounted to 677 million USD. Exports of goods amounted to 94.4 million USD or 61.6% compared to 2019, imports of goods reached 209 million USD or 123.3%. Exports of services amounted to 112.6 million USD or 126% compared to 2019, imports of services - 261 million USD or 83%.

The main branches of trade and economic cooperation have traditionally been agriculture, pharmaceuticals, food industry and food, instrument making and more. In the field of services, the main volumes of trade were transport, computer and telecommunications, as well as business services.

The largest groups of exports of goods from Ukraine to Ireland during this period were a) grain, the volume of trade in which amounted to 81.2 USD or 60.6% of the volume in 2019; b) mineral fuel: oil and oil products - 4.4 million USD (43.4%); c) residues and waste from the food industry - 1.3 million USD (89.8%); d) ferrous metals - 1.3 million USD (49.3%); e) fertilizers - 0.9 million USD; f) wood and wood products - 0.8 million USD (144%).

The largest volumes of imports of goods from Ireland were recorded in trade a) pharmaceuticals with a volume of 111.0 million USD (140% of the volume in 2019); b) food - 24.63 million USD (108%); c) alcoholic and non-alcoholic beverages and vinegar - 17.5 million USD (149%); d) optical and photographic devices - 13.59 million USD (96%).

Bilateral air transport cooperation has been successfully developing during the previous several years. In particular, on 2 May 2019 Irish Ryanair company launched a direct air flight from Dublin to Kyiv. As of today, the direct flights between Dublin and Kyiv are suspended due to coronavirus pandemic.

Irish CRH company, which is among the leading global diversified building materials businesses in the world, employing 77,600 people at 3,100 locations worldwide, came to the Ukrainian market in 1999 and since has been successfully advancing its production of construction materials based on the acquired Ukrainian enterprises, in particular, “podillya Cement”, OJSC “Cement” (Odesa), PJSC “Mykolaivcement”, “Bila Tserkva Concrete Plant”, Popilnya Quarry”, and “Bekhiv Quarry”.

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