Embassy of Ukraine in Ireland

Kyiv 06:23

Trade and economic relations of Ukraine and Ireland

Until Russian aggression against Ukraine started in 2014 trade and economic cooperation between Ireland and Ukraine demonstrated positive dynamics. In particular, during the period of 2009-2013 a volume of bilateral trade increased three times – from 148 million USD to 422 million.

In 2014 bilateral business contacts diminished. Trade volume in goods and services decreased by 34% (143 million USD) and equalled 279 million USD. Export of goods and services declined by 40% (78 million USD) and was equal to 117 million USD. Import of goods and services reduced by 28% (64 million USD) and was equal 162 million USD.

In 2016 export of goods decreased and equalled 45,48 million USD, which made up 77% as compared to 2015. At the same time 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%).

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. Trade balance for Ukraine was negative and was equal to 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 total 511 million USD which signalled increase by more than 36% comparing to 2017.

Export of goods arrived at 77,51 million USD, which made up 140% as compared to 2017. Import of goods equalled 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.

The main export commodity groups were grain crops, fuel, ferrous metals, food produce, computer, TV communication and transport services.

Structure of main import commodity groups remained also unchanged and included pharmaceutical and food produce, optical and photo equipment, computer and TV communication services.

In January 2019 Ukraine exported goods for about 21,17 million USD, which was equal to 219% comparing to a corresponding period of 2018. Import of produce grew indeed and reached 13,90 million USD, which was equal to 156,6% as compared to January 2018.

Bilateral air transport cooperation has been developing successfully. Irish air company Ryanair started operating in Ukraine in 2018 and announced about launching a direct flight from Kyiv to Dublin on 5 May 2019 once a week.

During 2-5 years Ryanair plans to invest in Ukraine 1,5 billion USD, enlarge its fleet to 15 carriers and increase a passengers` flow up to 5 million people. In general, the company will operate 22 international flights to 11 countries.

Irish business group CRH, which came to Ukrainian market in 1999, has been successfully developing building materials production on a basis of acquired Ukrainian companies as “Podilskyi cement”, “Cement” (Odesa), “Mykolaivcement” (Lviv region), “Popilnyanskyi special pit” and others.