In 2022, the turnover of foreign trade in agri-food products between Ukraine and the countries of Asia amounted to $8.6 bln, which is 43% lower than the maximum figure reached the year before ($15.2 bln), noted Mykola Pugachev, the deputy director of the Institute of Agrarian Economics, the center's press service reported on March 30.
As the scientist noted, last year domestic agricultural exports ($6.327 bln) decreased in absolute terms much more noticeably than imports ($296 mln), so Ukraine's positive trade balance with Asian countries actually halved to $6.109 bln.
Turkey, China, India, Saudi Arabia, Israel, and Iraq became the main buyers of Ukrainian agri-food products in the Asian region in 2022. In total, these countries accounted for 78% of the value of domestic sales to this part of the world. At the same time, exports to all these countries, except for Turkey, decreased.
M. Pugachev also added that the Asian countries continue to concentrate on purchasing the traditional export product groups of Ukrainian goods – grain ($3.074 bln in 2022), oils and fats ($2.421 bln), oilseeds ($616 mln), food industry residues ($455 mln), meat products ($385 mln).
"Despite the sharp decrease in the volume of food trade, caused by the blockade of sea ports and military actions, the typical structure of exports and imports for Ukraine is still preserved, and the countries of Asia, subject to the use of all logistical opportunities, will remain among the most priority regional markets for the sale of domestic agricultural products in the current year as well," the specialist concluded.
