Embassy of Ukraine in Malaysia

, Kyiv 19:27

Trade and economic relations between Ukraine and Malaysia

Ukraine is one of Malaysia's major trading partners among the Central and Eastern Europe countries despite the decline in foreign trade.

Thus, according to the State Statistics Service of Ukraine in 2016 the trade in goods was as follows:

Export

Import

Balance

Thousands, USD

% to 2015

Thousands, USD

% to 2015

126203,2

79,1

167518,0

126,8

- 41314,8

Trade in service was  

Export

Import

Balance

Thousands, USD

% to 2015

Thousands, USD

% to 2015

10685,0

90,2

3057,7

446,7

7627,3

The total turnover in goods between our country and Malaysia increased by 0.7% comapring to the 2015 (291.67 million USD) and amounted to 293.72 million USD.  Import from Malaysia to Ukraine increased by 26.8% and was equal to 167.52 million USD, and export of our country to Malaysia decreased by 20.9% and reached 126.52 million USD. Negative balance of trade between Ukraine and Malaysia amounted to 41.31 million USD (31.9 million USD in 2015).

In 2016, the volume of trade in services between Ukraine and Malaysia increased by 9.7% and was equal 13.74 million USD compared to 2015 (12.53 million USD). Ukraine`s export decreased by 9.8% and was equal to 10.69 million USD, import increased by 446.7% and reached 3.06 million USD. Positive balance of trade in services between Ukraine and Malaysia was equal 7.63 million USD.

At the same time, according to the Department of Statistics of Malaysia, the total trade turnover between the two countries in 2016 amounted to 148.9 million USD (decreased by 53.8% compared to 2015). Import from Ukraine to Malaysia decreased by 17.9% and was equal 71 million USD, the export from Ukraine to Malaysia - by 45.3% and was equal 77.9 million USD. Negative balance of trade amounted to 6.9 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 2016 there have been 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 (93.88 million USD or 74,4% of the whole volume of export); grain crops (12.69 million USD or 10.1%); vegetables (4.76 million USD or 3.8%), milk and dairy products, eggs, honey (new) (3.87 million USD or 3.1%), ferrous metals (3.34 million USD or 2.6%).

The main commodity groups of import from Malaysia to Ukraine for the same period were: electrical machinery (53.01 million USD or 31.6%); oils and fats of animal or vegetable origin (39.37 million USD or 23.5%); industrial machinery (19 million USD or 11.3%); rubber (12.32 million USD or 7.4%); cocoa and products thereof (9.26 million USD or 5.5%).