EU trade with Ukraine to increase in 2024: Surplus driven by fuels

The EU exported goods to Ukraine worth €42.800 billion, while the imports from the country reached 24.500 billion euros, generating a trade surplus of 18.300 billion euros for the European bloc.

These figures represent significant growth compared to the previous year. EU exports to Ukraine increased by 9,4% compared to 2023, while imports increased by 7,0% in the same period.

The increase in trade, particularly in key sectors such as energy and agriculture, underscores the growing economic interdependence between the two regions.

The mineral fuels They stood out as the main export product from the EU to Ukraine, reaching €6.800 billion. This was followed in importance by electrical machinery (€4.300 billion) and machinery (€4.200 billion). Importantly, mineral fuel exports experienced a substantial increase of €4.100 billion compared to 2021. This increase is attributed to the decrease in Ukrainian imports of these products since Russia and Belarus, which were partially replaced by supplies from the EU.

Regarding EU imports from Ukraine, agricultural products led the list. Cereals accounted for the largest volume, with a value of €4.400 billion. Other significant imported products included animal or vegetable fats and oils (€3.100 billion) and oilseeds and related products (€2.500 billion). Compared to 2021, cereal imports registered an increase of €2.700 billion, while those of animal or vegetable fats and oils and oilseeds and related products grew by €1.000 billion and €1.100 billion, respectively.

These data reflect a intensification of trade relations between the EU and Ukraine in a changing geopolitical context.