In the period of January-September 2024 the volume of bilateral trade amounted to 1.45 billion USD. Export of goods from Ukraine – 0.58 billion USD, import of goods from India – 0.87 billion USD.
The top commodities exported from Ukraine to India were fats and oils of vegetable origin (389.5 million USD), maize (70.4 million USD), dried leguminous vegetables, shelled, whether or not skinned or split (21 million USD), hard coal, anthracite (10.4 million USD).
Main Indian commodities imported to Ukraine were pharmaceutical products (117.3 million USD), mineral fuels, petroleum and distillation products (80.1 million USD), retreaded or used pneumatic tyres of rubber (18.9 million USD), electrical machinery (18.5 million USD), flat-rolled steel (17.3 million USD).
Dynamic of the development of trade between Ukraine and India (Million USD)
|
Indicators |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
January-September 2024 |
|
Trade turnover |
2,79 |
2,76 |
2,69 |
3,45 |
2,57 |
2,42 |
1,45 |
|
Export |
2,17 |
2,02 |
1,97 |
2,49 |
0,88 |
0,54 |
0,58 |
|
Import |
0,61 |
0,74 |
0,72 |
0,96 |
1,69 |
1,88 |
0,87
|
|
Balance |
+1,55 |
+1,28 |
+1,25 |
+1,53 |
-0,81 |
-1,34 |
-0,29 |
Prospective directions of bilateral cooperation in the economic sphere are considered in the framework of the Ukraine-India Intergovernmental Commission on Trade, Economic, Scientific, Technical, Industrial and Cultural Cooperation (hereinafter - IGC), which was established under the Intergovernmental Agreement dated of April 19,1994. Its last, 6th Session was held on February 5-6, 2018 in Kyiv.
On March 29, 2024 meeting on the activities in the framework of Ukraine-India IGC was held in New Delhi under the chairmanship of the Minister for Foreign Affairs of Ukraine and Minister of External Affairs of India.
On May 15, 2024, the 5th meeting of the Joint Working Group on Trade and Economic cooperation was held in online format.