Ukrainian export in 2017 greatly depends on import strategies of Russia, Egypt, Poland, Turkey, Italy, China, India and Germany, which jointly buy 40 percent of Ukrainian goods. Notably, exports to three of these countries decreased by over 25 percent each in 2016.
Nevertheless, the Ministry of Economic Development and Trade of Ukraine expects to see an eight percent growth of exports of goods and services. At that, one of the main hard currency revenue items remains transport services, namely pipeline transport.
Ukrainian IT-exporters, on their part, are very optimistic about their future and growth in the sector in 2017 and the following years. “If there is no external or internal crises in the economy, our branch will continue accretion at about 15 to 20 percent. According to PwC forecast based on last year’s research of Ukrainian IT industry, by 2020, outsourcing can double the exports income, having reached USD 5.2 billion, creating the respective amount of workplaces in the industry,” forecasts Mr.Yaroslav Liubynets, Head of the SoftServe executive board.
The Ministry of Economic Development and Trade notes that the EU is currently Ukraine’s biggest trade partner, with Agrcultural and Food products along with basic metals and fabricated metal product as leading exports.
At that, Ukrainian exporters are going to increase their shipments to the EU gradually. “Those, who have not yet explored European direction, will have to invest in rebranding, marketing and sales promotion in order to expand into this new market,” emphasizes Ms. Olena Belan, the leading economist at Dragon Capital. She believes that investment sources yet remain difficult to access.