Ukraine-China trade turnover made up USD 2.7 bln in first half 2020

The volume of bilateral agricultural commodity trade between Ukraine and China in the first half of 2020 is estimated at USD 2.7 bln, the General Administration of Customs of the People's Republic of China (GAC) data show.

As reported by the State Food and Grain Corporation of Ukraine (SFGCU) with reference to the data presented at the sixth meeting of the Ukrainian-Chinese subcommittee on trade and economic cooperation of the Commission on Cooperation between the Government of Ukraine and the Government of the PRC, the aforementioned indicator is 71% higher YoY.

Ukrainian agricultural exports amounted to USD 2.4 bln with corn, sunflower meal and sunflower oil being the main export positions.

According to the Chinese official, the PRC is also interested in the integrated development of soybean export from Ukraine to China.

In 2019, China outpaced the EU in terms of import volumes growth from Ukraine, but due to quarantine measures imposed in 2020, trade between Ukraine and China may be severely affected.