Trade turnover between Ukraine and India increased by 18.8% in 2017

A volume of trade between Ukraine and India increased by 18.8% in 2017 and reached about $2.8 billion, and the surplus in favor of Ukraine amounted to $1.65 billion.

Indian Ambassador to Ukraine Manoj Kumar Bharti stated this at a press conference on Tuesday, an Ukrinform correspondent reports.

"In 2017, the trade turnover between India and Ukraine grew by 18.8% and amounted to about $2.8 billion. There are two important points: India has become the fifth country in terms of exports from Ukraine abroad. In addition, India is the second country with which Ukraine has a trade surplus. The best balance of trade exists only between Ukraine and Egypt at the level of $1.75 billion, while Ukraine’s trade with India makes up $1.65 billion," the ambassador said.

He informed that sunflower oil accounted for the lion's share of Ukrainian exports to India - last year Ukraine exported it worth $2 billion. In addition, for the first time, beans grown in Ukraine, as well as corn, wheat, engineering products and blood products, were exported to India last year.

Taking into account the trend of recent years, the diplomat predicted that the current growth of Ukrainian exports from Ukraine to India could reach about 20%.

The ambassador also stressed that Indian exports to Ukraine grew by 15.15% last year, noting that India's pharmaceutical industry had a great growth potential.

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