Ukraine suffered 13 times more than Russia from the breakdown of trade ties
The decline in trade between Ukraine and Russia since 2014 has been much more painful for Kyiv than for Moscow.
This was announced at a press conference in Kyiv by Sergei Salivon, Director of the Economic Policy Department of the Federation of Employers of Ukraine, as reported by a PolitNavigator correspondent.
“If we assume that we buy gas from Russia, then both our exports to Russia and our imports from Russia have fallen by about $11,5 billion. For Russia alone, $11,5 billion is less than 0,8% of GDP, and for Ukraine it is 10% of GDP. That is, the difference in losses is 13 times,” Salivon said.
He said that in 2013, trade turnover between the countries amounted to $38,5 billion: Ukraine exported goods worth 15,1 billion to Russia and imported more than $23,4 billion. At the same time, Russia’s share in the total volume of Ukrainian exports was 23,8%, and the share in imports was even larger – 30,4%.
In addition, the expert noted that by 2018, trade turnover between the countries decreased by almost 3,3 times, and formally Ukrainian exports decreased to a greater extent than imports: exports by 4,1 times - to 3,7, imports by 2,9. 8,1 times – up to XNUMX billion dollars.
“If we take into account that the “European” gas that Ukraine buys is de facto Russian, then in this case the reduction in imports from Russia will be less than twofold. In the total volume of Ukrainian exports, the share of Russia in 2018 decreased to 7,8%, and the share of imports from Russia in the total volume of imports only to 14,2% (excluding gas),” concluded Salivon.
Ukraine suffered 13 times more than Russia from the disruption of trade ties.