Foreign trade turnover.
According to the State Statistics Service of Ukraine, based on the results of 2020 the trade turnover between Ukraine and the Republic of Estonia amounted to 286.71 million USD. The volume of exports of Ukrainian goods to the Republic of Estonia amounted to 109.75 million USD. Import volumes amounted to 176.96 million USD.
The balance in trade in goods for this period is negative for Ukraine and amounts to 67.21 million USD.
Exports – 109.75 million USD;
27 mineral fuels; oil and its distillation products-11.0%
72 ferrous metals-10.5%
84 nuclear reactors, boilers, machinery-12.2%
44 wood and wood products – 12.0%
85 electric cars-8.6%
Other goods: clothing, textiles, fats and oils of animal or vegetable origin, alcoholic and non – alcoholic beverages and vinegar, furniture, plastics, polymers, finished grain products, etc.
Imports – 176.96 million USD
Structure: nuclear reactors, boilers, machinery, fish and meat products, tanning extracts, plastics, polymer materials, electric machines, etc.
Direct investment from the Republic of Estonia to Ukraine
According to the NBU, as of 30.09.2020, 164.3 million USD investments from the Republic of Estonia were attracted to the Ukrainian economy (including a capital participation instrument – 84.1 million USD and - 80.2 million USD as debt instruments), which is 0.33% of the total volume of foreign direct investment in the Ukrainian economy.
The largest volume of investments from the Republic of Estonia came to industry – 68.7% of total investment from the Republic of Estonia.
Direct investment from Ukraine to the Republic of Estonia.
According to the NBU, as of 30.09.2020, direct investments from Ukraine to the Republic of Estonia were directed to agriculture, forestry and fisheries. However, information on their volume is confidential in accordance with the relevant law of Ukraine, since investments were received from no more than 2 business entities.
The investment situation is quite positive. Analytical data indicate a steady interest of estonian investors in investing in Ukraine.
For example, Elme Messer Gaas Ukraine is engaged in the production of industrial gases in Dnipro. This company actively provides humanitarian assistance to Ukraine in overcoming the coronavirus pandemic. In particular, the city hospitals No. 4, No. 6 and No. 9 of Dnipro has been provided with oxygen at the company's expense in October-November 2020.
Another company, Elme Trans, which is also part of BLRT Grupp, has invested 2.2 million euro in the transport company Elme Trans Ukraine (Kharkiv), which made it possible to speed up transportation in Ukraine.
Estonian investors also showed active interest in possible participation in the construction of a Technopark in the Donetsk region.
Since May 2019, the Ukrainian-Estonian Chamber of Commerce has been operating in Estonia, which promotes the entry of Ukrainian businesses into the host country's market. The mentioned chamber was created with the participation of the Tallinn Office of the Ukrainian law firm Ilyashev & Partners and the Embassy of Ukraine, which provides an opportunity for Ukrainian entrepreneurs to receive legal advice and assistance within.
Estonian partners show great interest in interacting with Ukrainian entrepreneurs. The analysis shows that the Estonian business shows interest in both traditional types of trade, such as the purchase of construction materials in Ukraine, equipment for agricultural machinery of Ukrainian production, in particular the production of Kharkiv tractor plant, whose products are valued in the Estonian market, and interaction in IT sector. Today, a number of IT companies with Ukrainian roots are already actively operating in Estonia, in particular the Ria online platform (Dom.Ria, Auto.Ria, Ria.Market), the company “Eleks”. Today, about 300 Estonian companies operate in Ukraine.
Invest in Ukraine
Organizations involved in investment issues and publication of investment projects
1.Ukraine Invest Guide is set to become the main source of information about Ukraine to potential investors. It contains information about Ukraine’s potential and analytical data from various industries. It also promotes the examples of foreign companies that are already successfully operating in our country.
The Guide consists of over 100 pages of analytical information aimed at informing foreign investors about the country’s resource potential, investment projects and changes in regulatory policy.
Ukraine Invest Guide is a one-stop-shop reference to consider investment opportunities in Ukraine.
Аddress: Cabinet of Ministers of Ukraine, 12/2 Hrushevskoho Street, Office 148, Kyiv, Ukraine 01008
2. Council of Exporters and Investors under the Ministry of foreign affairs of Ukraine.
The Council of Exporters under the Ministry of Foreign Affairs of Ukraine is the permanent consultant body, established with the purpose of providing cooperation of the Ministry with leading exporters of Ukraine with a view of economization of foreign policy and enhancing the position of Ukrainian producers on world markets.
Аddress: Mikhailivskaya Square, 1
3. Office of the National Investment Council of Ukraine
Office of the National Investment Council is an advisory body to the President of Ukraine. This Council facilitates dialogue between local business, international investors and official bodies in Ukraine. Members of the National Investment Council are leading international companies that have already invested in Ukraine or are planning to invest, as well as international financial organizations.
Email: [email protected]
Address: Office of the National Investment Council, 11 Bankova St, 01220
Useful information: On December 17, 2020, the Ukrainian Parliament adopted the Law of Ukraine "On State Support of Investment Projects with Significant Investments in Ukraine" No.1116-IX, which has become known as the Investment Nannies Law. The development and adoption of the Investment Nannies Law was initiated by the President of Ukraine. On February 13, 2021, the Law entered into force.
The law defines the organizational, legal and financial basis for state support of investment projects with significant investments in order to attract significant investment to Ukraine, create new jobs, stimulate the economic development of Regions and increase the competitiveness of the Ukrainian economy.
Detailed information about the law can be obtained on the website of the Verkhovna Rada (Parliament) of Ukraine:
Also, on March 2, 2021, the Ukrainian Parliament adopted Draft Laws No. 3761 and 3762 (together, Draft Tax Laws) regarding tax and customs incentives applicable to qualified investors specified in the Investment Nannies Law.
Useful links to versions of web-pages of state bodies of Ukraine
1 State Property Fund of Ukraine: 01133, Kiev, Generala Almazova st., 18/9 (Pecherska metro station), Fax: +38 (044) 286-79-85, Hotline: Phone: +38 (044) 254 29 76.
2. State service of Geology and mineral resources of Ukraine: 03057, Kiev,
16 Anton Tsedik St., Hotline number (044) 456-23-57, Office Phone: (044) 536-13-18, e-mail: [email protected]
3. General information: https://bit.ly/3pexQB3, ProZorro