Trade and economic relations
Turkey is a very important trade and economic partner of Ukraine. As a consumer of the Ukrainian export goods Turkey ranks second among all our trade partners.
For the year 2015 the trade turnover between Ukraine and Turkey decreased by 25.4% and amounted to $ 3.624 billion in comperison with the same period of 2014.
Ukraine’s export of goods to Turkey decreased by 22% and amounted to $ 2.772 billion and import decreased by 34.5% and amounted to $ 852 million. The positive balance for Ukraine was $ 1.920 bln.
For the first six months of 2016 trade turnover between Ukraine and the Republic of Turkey decreased by 17% in conparison with the same period of 2015 and amounted to $1.532 billion. Ukraine’s export of goods to Turkey decreased by 31.7% and amounted to $ 1.015 billion, imports of goods to Ukraine increased by 39.8% and amounted to $517 million. The balance of trade for this period remained positive for Ukraine - $498 mln.
The main articles of export to Turkey (January-June 2016): ferrous metals - 50.2% (shipments decreased by 36.2%); fertilizers - 5.8% (decreased by 54.8%); seeds and oleaginous fruits - 13.9% (decreased by 19.4%); wood and wood products - 7.4% (increased by 6.8%).
The main articles of import to Ukraine (January-June 2016): edible fruits and nuts - 11.6% (shipments increased by 66.4%); plastics, polymer materials - 6.1% (increased by 15.5%); seeds and oleaginous fruits - 11.9% (increased by 103.8%), nuclear reactors, boilers, machinery - 9,6% (increased by 84.5%).
The first half of 2016 the services turnover index between Ukraine and Turkey has increased compared to the same period of 2015 by 13.6% and amounted to $ 187.1 million. Ukraine’s export to Turkey increased by 1.8% and amounted to $ 78.1 million. Import from Turkey to Ukraine grew by 23.8% and amounted to $ 109 million. The balance of trade in services during this period for Ukraine was negative - $30,9 mln.
According to the official statistics, the volume of the Turkish investments to Ukraine dated on June 1, 2016 was $260 million.