Embassy of Ukraine in Malaysia

, Kyiv 00:13

Trade and economic relations between Ukraine and Malaysia

Ukraine is one of Malaysia's major trading partners among the Central and Eastern Europe countries. During 2017, the positive dynamics of bilateral trade was recorded.

Thus, according to the State Statistics Service of Ukraine in 2017 trade in goods was

Export

Import

Total

Balance

million, USD

% to 2016

million, USD

% to 2016

million, USD

% to 2016

million, USD

130.7

103,5

189.1

112,9

319.8

108,1

- 58.4

 

Trade in services was

Export

Import

Total

Balance

million, USD

% to 2016

million, USD

% to 2016

million, USD

% to 2016

million, USD

8.9

82,3

7.1

231,5

16

114,1

1.7

The total turnover in goods and services between Ukraine and Malaysia in 2017 increased by almost 9% comapring to the 2016 and amounted to 335.8 million USD (export from Ukraine reached 139.6 million USD, import was equal to 196.2 million USD, negative balance of trade between Ukraine and Malaysia amounted to 56.6 million USD).

At the same time, according to the Department of Statistics of Malaysia, the total trade turnover between the two countries in 2017 amounted to 221.4 million USD (increased by 38.9% compared to 2016, or RM 899,3 million – 25,8%; 2016 – 159.4 million USD or RM 715.1 million).

Import from Ukraine to Malaysia increased by 36.1% and was equal 112.7 million USD (or 23,3% in RM - 457,9 million; 2016 – 82.8 million USD or RM 371.4 million). Export from Ukraine to Malaysia - by 41.9% and was equal 108.7 million USD (or 28,4% in RM - 441,4 million; 2016 – 76.6 million USD or RM 343.7 million). Negative balance of trade amounted to 4 million USD.

The differences in the statistical data are the result of different approaches applied by the statistical agencies of both countries. The Malaysian body takes into account the place of origin of the goods, but the Ukrainian side accounts the country of registration of the subjects of business transactions.

During 2017 there have been slight changes in the structure of export of goods from Ukraine to Malaysia. Thus, the main commodity groups of export of goods from Ukraine to Malaysia during this period included oils and fats of animal or vegetable origin (91,7 million USD or 70,2% of the whole volume of export); grain crops (14.6 million USD or 11.2%); vegetables (5.2 million USD or 4%), milk and dairy products, eggs, honey (4.1 million USD or 3.1%), ferrous metals (4 million USD or 3.1%).

The main commodity groups of import from Malaysia to Ukraine for the same period were: electrical machinery (84.5 million USD or 44.7%); oils and fats of animal or vegetable origin (34.6 million USD or 18.3%); industrial machinery (13.8 million USD or 7.3%); rubber (13.1 million USD or 6.9%); food products (new in top 5) (8.7 million USD or 4.6%). Cocoa and products thereof, which amounted to 9.3 million USD or 5.5% in 2016, now stands at 2.9%.