Exporting to Ukraine

Strategically located at a crossroads for the European, Russian and Asian markets, Ukraine offers a large and developed consumer base, a highly educated workforce, low labour costs and abundant natural resources.

Trade links with the UK

In the year ended June 2019, total UK exports to Ukraine amounted to £735 million, resulting in an increase of 22.1% compared to the previous year (ONS, 2019). This highlights a growing demand for UK goods and services in Ukraine which UK businesses looking to export could benefit from.

Demand for goods and services

In the year to March 2019, the top goods exported from the UK to Ukraine were aircraft, medicinal and pharmaceutical products, specialised machinery, textile fibres and cars (ONS, 2019). In terms of services, the top services imported by Ukraine from the UK were travel, business services, personal, cultural, recreational, telecommunications, computer and information services (ONS, 2019). Therefore, if you operate in one of these industries, then Ukraine could be a good market for you.

Ease of doing business

71st

out of 190 countries (World Bank, 2018)

Currency

Hryvnia

Business language

Ukranian and Russian

You may need a translator

GDP per capita

$3,112.902

UK is $42,558 (IMF, 2018)

Economic growth

3.3%

(IMF, 2018)

Time zone

GMT +3

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.