Trade in agricultural products between Ukraine and the EU hits record levels

Trade in agricultural products between Ukraine and the European Union in 2024 rose to US$17 billion, marking the highest level since the association agreement was established. This exceeds the previous record of US$16.5 billion set in 2022 by 3%.

Source: Institute of Agricultural Economics

Last year, Ukraine recorded a positive trade balance, with a surplus of approximately US$9 billion.

Ukraine's main European trading partners in 2023 were Spain, Poland, the Netherlands, Germany, Italy, Romania, France, and Belgium. Together, these countries accounted for 80% of Ukraine's total agricultural trade turnover with the EU.

In 2024, Ukraine imported around US$4 billion worth of agricultural products from EU member states, nearly 9% more than the previous year. However, the structure of imports is less stable than exports, with a few key product groups standing out.

The largest imports from the EU were beverages, valued at US$484 million. Other significant imports included various food products, extracts, and concentrates (US$405 million), animal feed, residues, and waste (US$356 million), as well as cocoa and chocolate products (US$289 million).

Dairy products made up a notable 7% of Ukraine's agricultural imports from the EU in 2024, with an 8% increase compared to 2023, totalling US$277 million. The biggest category within dairy imports was cheese, amounting to US$225 million last year.

Additionally, ready-made grain products imported to Ukraine reached US$258 million.

Background: Ukrainian agricultural producers will receive almost UAH 150 million (US$3.6 million) in government compensation for Ukrainian-made agricultural machinery and equipment purchased in September 2024.

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