Trade and economic relations of Ukraine and the Kingdom of Sweden
Trade and economic cooperation between Ukraine and the Kingdom of Sweden
Trade and economic cooperation between Ukraine and the Kingdom of Sweden today is in the process of qualitative transformation in which the structure of foreign trade turnover changes and balance is being aligned. The most important export articles of Ukraine to Sweden according to the State Statistics of Ukraine as for January 2015 include: ferrous metals (26%), wood and wood products (18.7%), furniture (5.9%) nuclear reactors components (5.6%), plastics, polymers (5.3%), products of inorganic chemistry (5%), textile clothing (4.9%). Among import items from Sweden to Ukraine are paper and cardboard (26.3%), nuclear reactors components (14.2%), electrical machinery (12.6%), fats and oils of animal or plant origin (8.1%), ferrous metals and products (5.4%), plastics and polymers (5.4%), mineral fuels, oil and its distillation products (4%) etc. The structure of Ukrainian export gradually changes, the range of goods expandes, the percentage of raw material and component reduces, share of finished products increases. Accordingly the negative balance of trade balance gradually reduces for the first 9 months of 2014 by half – from USD 417 mln to USD 201 mln.
The Swedish market has become more open to Ukrainian goods compared to the same period last year. Thus, in 2014 the export of Ukrainian products to Sweden increased by 10%. Export of ferrous metals decreased by 11.4%. The volume of wood and wood products increased by 11.5%, furniture – 5.1%, nuclear reactors components, boilers and machinery – 16%, plastics and polymers – 18.1%. Positive trends are also observed as to export growth: seeds; carpets; finished textile products; electrical machinery; ships; optical and photographic devices.
The foreign trade balance with Sweden continues to be negative for our country (USD 224 mln), while the volume of Swedish import to Ukraine reduced by 28.7% comparatively to the same period last year. During that period import from Sweden to Ukraine of ferrous metals (USD 15 038 mln) increased and import of fish and crustaceans (USD 1.017 mln), organic chemicals (USD 837 thsd), special fabrics (USD 362 thsd), pearls, precious or semi-precious stones (USD 332 thsd), various finished products (USD 1.5 mln) decreased.
The political crisis in Ukraine in early 2014 caused the flow of the Swedish investment out of our state. The total volume of Swedish investments as for October 1, 2014 p. is USD 391.6 mln, that is less by USD 47,7 mln than at the beginning of the year.
Many of Swedish companies intend to enlarge their production capacities in Ukraine. One of the most prospective areas of bilateral cooperation is energy production and distribution, especially in the context of modernization of energy sector of the Ukrainian economy, directed first of all at application of the updated technologies and possibilities to increase the ratio of the efficiency of existing capacities.
Substantial opportunities of cooperation exist in the areas of renewable energy, especially in waste management, by utilizing in Ukraine the corresponding experience and leading technologies of the Swedish companies as well as in the fields of telecommunication, energy-saving and environment protection, nuclear safety etc.
Export offers by Ukrainian enterprises - http://rei.mfa.gov.ua/en/foreign-business/foreign-proposals
Proposals of member-companies of the Ukrainian Chamber of Commerce and Industry:
Proposals of the Ministry of Agrarian Policy and Food of Ukraine:
International exhibitions and business forums in Ukraine - http://rei.mfa.gov.ua/en/foreign-business/foreign-events
Investment projects - http://rei.mfa.gov.ua/en/foreign-business/tenders
Economic and investment potential of regions of Ukraine - http://rei.mfa.gov.ua/en/foreign-business/market-review
Investment portal of Kherson region - http://invest.ks.ua/