Trade Balance of Goods in Ukraine: Overview from 2017 to 2023

Trade Balance of Goods in Ukraine: Overview from 2017 to 2023

Chart Details

Data Source: Calculate based World Trade Organization (WTO)'s data (export - import)

Timeframe: 2017-2023

Country: Ukraine

Published date: 2024

Note: The trade balance reflects the difference between the value of a country’s exports and imports of goods. This figure was calculated by TGM StatBox, using data from the World Trade Organization (WTO). A positive balance signals a surplus, while a negative one indicates a deficit.

Key Takeaways

Ukraine’s trade deficit widened significantly over the 2017–2023 period, from -6,344 million USD in 2017 to -27,487 million USD in 2023. The sharp increase in 2023 reflects the severe economic disruptions caused by geopolitical tensions and reduced export volumes, particularly in agriculture and metals, which are critical to Ukraine’s economy.

Despite a lower deficit in 2020 and 2021, supported by increased grain exports, the post-2022 period underscores the ongoing challenges of maintaining trade stability amid war-related disruptions, decreased industrial output, and constrained logistics.

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