Trading Partner Portal: Ukraine
Ukraine has a population of approximately 45 million and is the second largest country in Europe by land mass. In 2016, Ukraine’s GDP was $93.2 billion. In 1991 when the Soviet Union dissolved, Ukraine became independent. Ukraine has been a member of the World Trade Organization (WTO) since 2008, and has since been working toward attracting foreign investment. (The World Bank)
Two-way trade in goods between the United States and Ukraine was approximately $2.8 billion in 2017, up from $1.6 billion in 2016. Ukraine is the United States’ 63rd largest export destination with more than $1.8 billion in exports. The top imports into the United States from Ukraine is primary metal manufacturing, accounting for over 60% of total imports. Top exports from the United States to Ukraine include minerals and ores, non-electrical machinery, transportation equipment, and chemicals.
Ukraine is California’s 69th largest export destination with $95 million in exports in 2017, an increase over the last few years. California is among the top 10 state exporters to Ukraine. Agricultural products accounted for 41.7 percent of exports, followed by second-hand merchandise accounted for 19 percent, and computer and electronic products which accounted for $12 million of exports or 13.5 percent. California imported $38 million from Ukraine in 2017, which included food manufactures, non-electrical machinery, primary metal manufactures, and fish.
FDI from the U.S. into the Ukraine totaled $398 million in 2017. In the same year, FDI from the Ukraine into the U.S. totaled $4 million. U.S. Department of Commerce, Bureau of Economic Analysis
U.S. – Ukrainian Trade and Investment Council
In 2008, shortly after Ukraine became a member of the WTO, the U.S. and Ukraine signed a TICA, which established the U.S.-Ukrainian Trade and Investment Council. Chaired by the USTR and the Ukrainian Ministry of Economy, the council is the primary organization for managing the trade and investment relationship between the two countries. The fourth meeting of the U.S.-Ukraine TIC was held in Washington on July 31, 2012.
Business Opportunities in Ukraine from Consul General Sergiy Aloshyn of San Francisco:
Crimea is a well developed region in Ukraine, located along the northern peninsula on the Black Sea. It is also known as a “Pearl of Ukraine.” It has been ranked by National Geographic as being one of the Top 20 Destinations in 2013.
The region of Crimea has a new campaign for promotion and attraction of investment, with an overall goal of improving the lives of the population of 2 million. The campaign will be focused on five areas:
- Tourism – the Crimean peninsula is a growing tourist region, with miles of beaches, mountains, forests and lakes. Currently, 64% of its tourist facilities are located on the southern coast.
- Agriculture sector – Crimea is one of the top grape growing areas in the region, with a thriving wine industry. Investment opportunities exist in processing of fruit and vegetables into convenience foods and juices and the production of meat and fish products.
- Transportation infrastructure – Crimea is well-situated in the Black Sea, making it an internationally significant transportation hub.
- Energy: solar/ wind – Although the majority of Crimea’s solar and wind energy demand is met by importing from mainland Ukraine, its solar energy potential is among the highest in Ukraine and its wind energy potential among the highest in Europe.
- Industrial development – Industry is the main sector of Crimea’s economy, making up almost 25% of the regions total fixed asset value. Crimea aims to develop further innovations, notably in high-tech engineering, equipment for agriculture and electronic and communication facilities.
Crimea: Regional Profile
Crimea Strategy 2020
Resorts and Tourism Report
Transport System Developments
Regional Air Transportation Development
Council of Ministers of the Autonomous Republic of Crimea
Source: Council of Ministers of the Autonomous Republic of Crimea
The Cherkasy province of Ukraine (Cherkasy Oblast) is located in the center of the country, along the Dnieper River. It has a population of 1.3 million people, with 56.4% of residents dwelling in urban areas and 46.6% in rural areas.
Cherkasy region does business with 117 countries, and at the end of 2012 attracted $884 billion in foreign investments. With a favorable investment climate, central location, and abundant natural resources, the region has significant potential.
Strong industries in Cherkasy Region include agriculture, food processing, alternative energy production, infrastructure development, light industry, and tourism.
Source: Cherkassy Business Potential Report
Embassy of Ukraine to USA, January 2013
November 12, 2013 – The California Chamber of Commerce hosted an official delegation from the Republic of Crimea, Ukraine. The meeting focused on the cultural, historical and commercial significance of Crimea –which is a well-developed region in Ukraine, located along the northern peninsula on the Black Sea.