The European Union's trade with Ukraine has shown remarkable growth in 2024, with exports reaching an impressive 42.8 billion euros while imports totaled 24.5 billion euros, culminating in a trade surplus of 18.3 billion euros. This data, reported by the EU's statistics agency Eurostat on May 7, 2025, highlights a significant increase in both exports and imports compared to the previous year.
Specifically, EU exports to Ukraine increased by 9.4 percent, while imports rose by seven percent from 2023 levels. This upward trend illustrates the strengthening economic ties between the EU and Ukraine, especially in the wake of geopolitical tensions and the ongoing conflict in the region.
Among the key products exported from the EU to Ukraine, mineral fuels led the way, accounting for 6.8 billion euros. This was followed by electrical machinery at 4.3 billion euros and machinery at 4.2 billion euros. Notably, the growth in mineral fuel exports has been particularly significant, rising by 4.1 billion euros compared to 2021. This shift is largely attributed to Ukraine's reduction in imports from Russia and Belarus, which has been partially offset by increased purchases from EU countries.
On the import side, the EU's key purchases from Ukraine included various agricultural products. Cereals topped the list, valued at 4.4 billion euros, followed by animal or vegetable fats and oils at 3.1 billion euros, and oil seeds and related products at 2.5 billion euros. When compared to 2021, imports of cereals saw a substantial increase of 2.7 billion euros, while imports of animal or vegetable fats and oils rose by one billion euros, and oil seeds and related products increased by 1.1 billion euros.
This robust trade activity comes at a time when the EU is seeking to bolster its economic relations with Ukraine amidst ongoing conflicts and challenges. The increase in trade not only reflects economic resilience but also underscores the EU's commitment to supporting Ukraine.
Meanwhile, in a separate report, the Norwegian Seafood Council (NSC) announced that seafood exports from Norway experienced significant value growth in April 2025, reaching the highest-ever level for that month. This growth is particularly noteworthy given the current global trade turmoil, indicating a strong demand for Norwegian seafood products.
The NSC's report highlights that despite the challenges faced in the global market, Norwegian seafood has maintained its appeal, showcasing the country’s robust seafood industry. This growth is expected to continue as international markets adapt and evolve in response to shifting consumer preferences and economic conditions.
In conclusion, both the EU and Norway are experiencing favorable trade dynamics, with the EU's growing relationship with Ukraine and Norway's seafood exports reflecting a broader trend of resilience in international trade.
