Trade and economic cooperation of Ukraine and Hungary

22 August 2012 20:43

According to the State Statistics Service of Ukraine in 2018, the total volume of trade in goods and services between Ukraine and Hungary grew by 19,1% (by USD 504,5 million) compared to 2017 and amounted to USD 3 152 million. At the same time, exports increased by 26,2% (USD 382,0 million) and amounted to USD 1842,7 million, imports grew by 10.3% (USD 122,5 million), to USD 1309,6 million. The positive balance for Ukraine was USD 533,1 million.

In 2018, compared to the data of 2017, Ukrainian goods exports grew by 24,1% to USD 1646,3 million (3,5% of the total Ukrainian exports of goods), imports grew by 10,0% to USD 1267,8 million (2,2% of Ukraine's total imports). The trade turnover with Hungary in 2018 grew by 17,6% and amounted to USD 2 billion 914,0 million. In the given period, in the bilateral trade in goods between Ukraine and Hungary, the balance for Ukraine was positive and amounted to USD 378,5 million.

Indicators of foreign trade in goods between Ukraine and Hungary according to the State Statistics Service of Ukraine, USD millions

Indexes	2012	2013	2014	2015	2017	2018	2018/2017 (+/-;%)
Commodity circulation	2669.8	2957.5	2973.9	2518.3	2478,8	2914,1	117,6
Export	1510.2	1556.9	1509.9	909.7	1326,4	1646,3	124,1
Imports	1159.6	1400.5	1464.0	1608.6	1152,4	1267,8	110,0
Balance	350.6	156.4	45.9	698.9	174,0	378,5	-

Analysis of the commodity structure of Ukrainian exports to Hungary shows that in 2018, as in previous years, the main commodity groups of Ukrainian exports were: electric machines (51.0%); mineral fuels, petroleum and products of its distillation (13.0%); ore, slag and ash (9.9%); ferrous metals (5.5%).

Structure of Ukrainian exports to Hungary, 2018

Code UKTZED	Commodity group	Cost, USD thousand dollars	Specific weight, %	2018/2017, %
85	Electric cars	839 379,3	51,0	118,6
27	Mineral fuel; oil and products of its distillation	214 485,3	13,0	140,4
26	Ore, slag and ashes	163 655,1	9,9	187,9
72	Ferrous metals	91 340,5	5,5	110,4
44	Wood and wood products	82 554,5	5,0	117,4
23	Residues and waste of the food industry	29 574,8	1,8	108,8
12	Seeds and fruits of oilseeds	23 934,7	1,5	198,6
84	Reactors nuclear, boilers, machines	23 514,6	1,4	80,8
62	Clothing and accessories to clothing, textile	22 893,5	1,4	99,0
25	Salt; sulfur; earth and stones	17 322,8	1,1	177,2
64	Footwear	16 052,8	1,0	123,7

The bulk of Hungarian imports in 2018 indicates a stable commodity structure of imports: electricity, mineral fuels, vehicles, products of the chemical industry, medicines, agricultural products, etc.

Structure of Hungarian imports to Ukraine, 2018

Code UKTZED	Commodity group	Cost, USD thousands	Specific weight, %	2018/2017, %
85	Electric machines	278 981,7	22,0	110,7
27	Mineral fuel; oil and products of its distillation	211 816,0	16,7	101,8
87	Means of land transport other than railway	142 261,1	11,2	129,8
39	Plastics, polymer materials	135 820,7	10,7	111,5
84	Reactors nuclear, boilers, machines	75 623,5	6,0	129,6
40	Rubber, rubber	59 343,7	4,7	90,3
30	Pharmaceutical products	58 688,5	4,6	81,0
10	Grain Cultures	29 624,6	2,3	96,5
38	Various chemical products	27 473,9	2,2	120,1
48	Paper and cardboard	22 267,3	1,8	100,0
73	Products of ferrous metals	16 271,7	1,3	247,2
01	Livestock	15 703,0	1,2	137,3
29	Organic chemical compounds	14 748,3	1,2	100,3
96	Various finished products	14 236,4	1,1	108,2
23	Residues and waste of the food industry	12 687,1	1,0	59,2

According to the results of 2018, the volume of mutual trade in services amounted to USD 238,2 million and has grown by 40,8%. Exports of services grew by 33,5% (USD 62,1 million) and amounted to USD 196,4 million, imports decreased by 18,0% (USD 7.0 million) to USD 41.8 million. The positive balance for Ukraine was USD 154.6 million.

In January-June 2019 trade turnover between Ukraine and Hungary amounted to 1398,9 mln US dollars (decreased by 1,5%), Ukrainian exports of goods - 792.6 mln US dollars (decreased by 5.0%), imports of goods from Hungary - 606,3 mln US dollars (grew by 1,3%). The positive balance of trade for Ukraine amounted to 186.3 mln US dollars.

The volume of investments of Hungary in Ukraine as of December 31, 2018 amounted to USD 500.1 million US dollars, which amounts to 1,5% of the total volume of direct foreign investments invested in the Ukrainian economy.

The volume of investments from Ukraine to Hungary as of December 31, 2018 amounted to USD 16,8 million.

In order to deepen trade and economic cooperation between Ukraine and Hungary and its further effective development, the Joint Intergovernmental Ukrainian-Hungarian Economic Cooperation Commission and the Ukrainian-Hungarian Intergovernmental Mixed Commission on Cross-Border and Border Cooperation have been established. On December 16-17, 2013 in Budapest, the Third Intergovernmental Ukrainian-Hungarian Commission on Economic Cooperation, held on December 20, 2013 in the village of Barvinok (Transcarpathian region), the Sixth Session of the Ukrainian-Hungarian Intergovernmental Commission on Cross-Border and Border Cooperation was held.

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The list of the EXHIBITIONS and FAIRS that will take place in Ukraine during 2019 can be seen by the following link.

The list of the EXHIBITIONS and FAIRS that will take place in Hunagry during 2019 can be seen by the following link.

Corporate data of the UKRAINIAN EXPORT-ORIENTED COMPANIES:

2019:

1. The Ukrainian enterprise “VALGER”;

2. «Agro Prom Sfera» LLC;

3. KT Ukraine LLC;

4. Private enterprise «Divotsvit» ;

5.Dneprovsky Special Tubes Plant LLC

6. Ukrainian Amber

7. Termoplast