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What Impact Does The Russian-Ukrainian Conflict Have On My Country's Foreign Trade?
- Feb 25, 2022 -

Recently, the geopolitical issues between Russia and Ukraine have intensified, so what is the status of Russia and Ukraine in global economic and trade? Which commodities are more affected by geo-disturbances? What is the impact on my country's foreign trade?

my country has changed from a trade surplus country to a trade deficit country with Russia and Ukraine. From 2010 to 2017, my country’s trade surplus with Russia and Ukraine was basically a trade surplus. By 2018, my country’s trade deficit with Russia had turned into a trade deficit; by 2020, my country’s trade deficit with Ukraine had also turned into a trade deficit.

In terms of total volume, my country's dependence on imports from Russia and Ukraine is relatively low. As of 2021, my country's import dependence on Russia is only 3.0%, making it my country's tenth largest importer; its import dependence on Ukraine is even lower, at only 0.4%. In addition, from the perspective of exports, the share is also lower. As of 2021, my country's exports to Russia and Ukraine account for only 2.0% and 0.3% of my country's total exports.

From a structural point of view, some of my country's energy, metals and agricultural products are highly dependent on Russia and Ukraine. As of 2021, my country's dependence on Russia for fertilizers and wood products is as high as 27.9% and 16.7%; the dependence on primary aluminum, pipeline natural gas and crude oil on Russia is as high as 18.9%, 17.3% and 15.5%. While my country's corn and barley dependence on Ukraine is as high as 27.1% and 25.8%.

However, under the geographical disturbance, the impact of my country's foreign trade is multiple. For example, taking natural gas as an example, the proportion of Russia’s natural gas exports to China has continued to rise since the Ukrainian issue began in 2014, from 0.1% in 2014 to 2.9% in 2020.

For our industry, customers in Russia and Ukraine have recently been lost, and other countries have been affected accordingly. Under the influence of the epidemic and war, our customers are difficult to maintain. Now if you can still buy our products please cherish. Contact our sales as soon as possible to place an order.


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