In 2018, Ukraine exported 78.2 million USD in goods to Canada – up by 50 percent in comparison with 2017.
If you compare the figures with 2016, the dynamics would be even more impressive – growth is almost three times.
Imports from Canada to Ukraine are also growing. It has increased from 299.2 to 333.1 million USD.
The Canada-Ukraine Free Trade Agreement (CUFTA) has a great impact on developing the volume of goods exporting to Canada. The agreement entered into force on August 1, 2017 and opened customs-free access to 98% of Canada’s market for Ukrainian companies. Canada’s situation is more complex. The duties were eliminated only for 72% of Canadian goods. The duties for the rest of 27% will be gradually reduced in compliance with transition periods – 3, 5, and 7 years.