India’s bilateral trade turnover was US$ 2.52 billion in 2019-20 (India’s exports were USD 463.81 million and imports were USD 2060.79 million). In 2019-20, Indian exports increased by 18.68% compared to 2018-19.
Major exports from India are Pharmaceutical products, reactors/Boiler machinery, mechanical appliances, oil seeds, fruits, coffee, tea, spices, iron and steel etc. From Ukraine, the major export to India is sunflower oil, followed by inorganic chemicals, iron and steel, plastics, chemicals, etc. India is Ukraine’s largest export destination in the Asia Pacific and the fifth largest overall export destination.
Pharmaceuticals account for majority of Indian exports to Ukraine. India is the third largest exporter of pharmaceutical products to Ukraine, after Germany and France, in value terms. A number of Indian companies like Ranbaxy, Dr. Reddy’s Laboratories, Sun Group etc. have their representative offices in Ukraine. Representatives of major pharmaceutical companies have set up an Indian Pharmaceutical Manufacturers’ Association (IPMA) in Ukraine.
Bilateral trade figures for the last 5 years are as follows:
Values in US $ Millions
| S.No. | Year | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 |
|---|---|---|---|---|---|---|
| 1 | EXPORT | 259.11 | 310.16 | 330.10 | 390.80 | 463.81 |
| 2 | Growth | 19.70 | 6.43 | 18.39 | 18.68 | |
| 3 | India’s Total Export | 262,291.09 | 275,852.43 | 303,526.16 | 330,078.09 | 313,361.04 |
| 4 | %Growth | 5.17 | 10.03 | 8.75 | -5.06 | |
| 5 | %Share | 0.10 | 0.11 | 0.11 | 0.12 | 0.15 |
| 6 | IMPORT | 1,751.10 | 2,481.47 | 2,355.97 | 2,341.03 | 2,060.79 |
| 7 | %Growth | 41.71 | -5.06 | -0.63 | -11.97 | |
| 8 | India’s Total Import | 381,007.76 | 384,357.03 | 465,580.99 | 514,078.42 | 474,709.28 |
| 9 | %Growth | 0.88 | 21.13 | 10.42 | -7.66 | |
| 10 | %Share | 0.46 | 0.65 | 0.71 | 0.46 | 0.43 |
| 11 | TOTAL TRADE | 2,010.21 | 2,791.63 | 2,686.07 | 2,731.82 | 2,524.60 |
| 12 | %Growth | 38.87 | -3.78 | 1.70 | -7.59 | |
| 13 | India’s Total Trade | 643,298.84 | 660,209.46 | 769,107.15 | 844,156.51 | 788,070.32 |
| 14 | %Growth | 2.63 | 16.49 | 9.76 | -6.64 | |
| 15 | %Share | 0.31 | 0.42 | 0.35 | 0.32 | 0.32 |
| 16 | TRADE BALANCE | |||||
| 17 | India’s Trade Balance | -118,716.67 | -108,504.60 | -162,054.83 | -184,000.3 | -161,348.24 |
Source: Department of Commerce, Ministry of Commerce and Industry, New Delhi