Russian-Ukrainian trade turnover fell by 57.2%, to $12.5 billion, in the period January-August 2009 compared with the same period in 2008. Russian exports and imports totaled $7.3 billion (down 59.4%) and $5.2 billion (down 53.7%), respectively.
The trade turnover between Ukraine and leading Russian regions has fallen considerably (by over 70% in some cases) due to the financial-economic crisis and measures taken by the Ukrainian Government in January-June 2009 to limit imports. In most cases Russian imports have been reduced.
In the period January-June 2009 Russia's main exports were: minerals (56.3%), industrial equipment and transport systems (14.1%), chemicals (13%), and metals and related products (6.4%). Export volumes are falling in every leading commodity category. The shipment of minerals, machinery, metals and related products fell by $4.8 billion, $1.5 billion and $1.1 billion, respectively.
In January-June 2009, Russia's imports from Ukraine comprised: machinery and transport systems (36.6%), metals and related products (22.3%), food and agricultural feedstock (15.2%), and chemicals (10%). The shipment of minerals and metal products fell by the greatest margin: minus 64.5% and 57.8%, respectively. In absolute terms, imports of Ukrainian-made machinery, metals and related products fell most of all: down $1.6 billion and $1.2 billion, respectively. Russia also bought much less food and agricultural feedstock (down $390 million), minerals (down $342 million) and chemicals (down $246 million).
Bilateral efforts by the Russian-Ukrainian Interstate Commission's Economic Cooperation Committee continue to strengthen and expand trade and economic cooperation between the two countries.
The committee held its fourth meeting in Moscow, on April 29, 2009. During the meeting an agreement was signed establishing a Russian trade delegation in Ukraine and a trade and economic mission at the Ukrainian Embassy in Russia, as was a protocol on co-production arrangements for trade in 2009.