14 APRIL 2021
The Diplomatic Informer Magazine SA, conversation with The Deputy Minister for Development of Economy, Trade, and Agriculture of Ukraine, H.E. Mr T. Kachka during the Ukrainian Trade Mission delegation visit to South Africa to promote and identify potential areas of trade and investment between Ukraine and South Africa.
South Africa’s exports to Ukraine comprise agricultural products (citrus and wine), with about 50% share in total exports, Minerals (Nickel, Ores and concentrate). Value added exports (Machinery, Tubes and Pipes made of steel) account for less than 30% to total exports.
South Africa’s imports from Ukraine increased on average by 9% over the period 2011-2020. The highest peak was experienced in 2017, at R1.8 billion followed by a continuous decline in subsequent years and by 2020, imports from Ukraine amounted to R556.6 million, a decline from R765,9 million recorded in 2019.
The agricultural sector plays a major role in Ukrainian economy. In 2019, it contributed to 9% of the GDP and employed 14% of the working population in 2020 (World Bank). The main crops are cereals, sugar, meat and milk. Ukraine is the world’s fifth largest exporter of grain.
Main industries coal, electric power, ferrous and nonferrous metals, machinery and transport equipment, chemicals, food processing.
Grain, steel and sunflower oil have been recognized as the most famous goods of Ukrainian exports for centuries. Recently Ukraine’s reputation in the international arena has been growing, in information technology, high fashion, aviation, architecture and design.
Ukraine has a mixed economic system in which there is a limited private freedom, combined with centralized economic planning and government regulation.
Read more in our upcoming New Edition.
IMAGES: By The Diplomatic Informer Magazine