Ukraine and Russia have been at war for about three years now, and the conflict has had a major impact on the global economy. Russia is big in the oil sector, among other things, but below are five major exports from Ukraine to the rest of Europe and the world.
1. Cereal:
Ukraine’s fertile land and favourable climate make it ideal for agriculture, especially cereal production. In 2023, the country exported cereals worth $8.30 billion, a 9% decline from the previous year
2. Iron and Steel Product:
The country has rich iron ore reserves and a well-developed steel production infrastructure. Iron and steel exports from Ukraine consist of a wide range of products, including flat-rolled steel, tubes, pipes, and semi-finished iron.
3. Sunflower Oil:
Ukraine is one of the world’s leading producers and exporters of sunflower oil. The country boasts extensive sunflower cultivation, and its superior quality oil is highly sought after in the international market. Sunflower oil exports play a vital role in Ukraine’s economy.
4. Ores and Slags:
Ukraine’s rich mineral deposits make it a significant exporter of ores and slag. The country exports iron ore, titanium ores, coal, and various other minerals. These exports contribute significantly to Ukraine’s trade balance and attract foreign investments in the mining sector.
5. Fertilizers
Ukraine’s abundant natural resources include vast reserves of minerals used in the production of fertilizers. The country exports a significant amount of nitrogenous, phosphatic, and potassic fertilizers to meet global agricultural needs. Fertilizer exports play a crucial role in Ukraine’s trade balance.