Trade and economic relations
On December 23, 2020, the Fourth Meeting of the Commission for Cooperation between the Government of Ukraine and the People's Republic of China was held online.
According to the results of 2020, China ranks the first among all trade partners of Ukraine in terms of trade turnover.
State of trade in goods. According to the State Statistics Service of Ukraine, in 2020, the trade turnover between Ukraine and China amounted to $15.4 billion, exports of goods from Ukraine to China amounted to $7.1 billion (+98%), imports of Chinese goods to Ukraine amounted to $8.3 billion (-9.8%). The negative balance for Ukraine during this period was $1.26 billion.
The structure of bilateral trade in goods.
The structure of Ukrainian exports to China in 2020 was dominated by supplies of: ore, slag and ash; cereals; fats and oils of animal or vegetable origin; ferrous metals; residues and waste from the food industry; boilers, machines; wood and wood products.
The structure of imports of Chinese goods to Ukraine was dominated by supplies of: electric machines; boilers, machines; land vehicles other than rail; plastics, polymeric materials; optical and photographic devices and apparatus; shoes; various chemical products; toys; organic chemical compounds; furniture; ferrous metals; ferrous metal products; rubber, etc.
State of trade in services. In 2020, according to the State Statistics Service of Ukraine, the trade in services amounted to $312.9 million. Exports of services from Ukraine to China amounted to $121.4 million (-36.3%), imports to Ukraine from China – $191.5 million (-15.6%). The negative balance for Ukraine was $ 70.0 million.
The structure of bilateral trade in services.
The structure of Ukrainian exports of services to China was dominated by: business services; transport services; repair and maintenance services not included in other categories; travel services; construction services; telecommunications services, computer and information services.
The structure of imports of services from China was dominated by: financial services; transport services; business services; telecommunications services, computer and information services; royalties and other services related to the use of intellectual property; travel services.
Bilateral investment cooperation. According to the National Bank of Ukraine, as of of September 30, 2020, $75.7 million of direct investments from China were attracted to the Ukrainian economy (since the beginning of the year, this figure has decreased by $ 6.2 million). Mainly Chinese investments are made in: Ukrainian industry - 43.5%; agriculture, forestry and fisheries - 12.3%; wholesale and retail trade, repair of vehicles - 10.2%; professional, scientific and technical activities - 19.7%; real estate transactions - 3.6%; transport, warehousing, postal and courier activities - 3.4%; construction - 3.4%, etc.