Products Traded Between Ukraine and USA The main guidelines of the paper are to find out the products traded between Ukraine and the USA and to outline the major issues and risks involved in financing trade between Ukraine and U.S.A. the purpose of the paper is to enlarge knowledge about foreign trade in developed and developing countries. It is necessary to mention that integration of Ukraine into the world economic system is an a priority for its sustainable export-oriented economic reform and foreign investment expansion. Nowadays Ukraine promotes relations with G7 countries and foreign trade is the central issue of international economic strategy. What is more important is that Ukraine is always trying to set contacts with the USA, because the country has the worlds largest financial, economic, market, production, technological, scientific and military potential. It is a matter of fact that the USA is the richest and the most powerful country in the world. It is noted that the intergovernmental Ukraine-US Commission for the Promotion of Trade and Investment set as the priority agro-industrial business, aerospace industry, power engineering and health care.
Commission considered them key areas of American-Ukrainian joint cooperation. (Trade Mission of Ukraine) In the last years US-Ukraine trade has significantly increased and the USA has become the second largest partner of Ukraine after Germany among the G7 countries. What is more interesting is that Ukraine has a solid positive balance in its trade with the United States. The result is additional hard currency revenue that favorably affected the macroeconomic stabilization in Ukraine and gave the opportunity to continue and further develop economic restructuring in the country. (USA and Foreign Commercial Service) Ukraine exports in the USA: Agricultural products: confectionary, sugar, dairy products, meat, tinned food, vegetables, fruits and vegetable oil. Raw materials: natural sulfur, graphite, kaolin, fireclays, beton clays, high-quality flux, kitchen salt, pearlite, glass sand, iron ores, building stones, coal, products of gas processing and oil refining, ferroalloys, manganese-ore products, cement. Agricultural machines: corn harvesters, tractors, diesel locomotives, sugar beet harvesters, excavators, mineral fertilizers.
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Metallurgical materials: coal cutters and loaders, pipes, steel, metalcutting machine tools, electric motors, tiers, press-forging plants. Others: chemical equipment, buses, TV sets and tape recorders, computer equipment, earthen ware and china. (Trade Mission of Ukraine) USA exports in Ukraine: press-forging and foundry equipment, oil, gas, coal, nonferrous metals, raw materials containing phosphorus, fluorite, chlorine and potassium fertilizers, timber, raw materials, bauxites, magnetite, vehicles, trolleybuses, asbestos, wood pulp and wood products, watches, sewing machines, textiles, medicines, cable and electrical engineering products. Concerning main risks involved in financing trade between Ukraine and U.S.A it is necessary to note that Ukraine is just developing country emerging in the world market and nobody can guarantees its prosperity. Chernobyl disaster significantly weakened the countrys economic and financial sphere. And finally, political instability in Ukraine doesnt contribute to foreign trade as many trade partners are rather afraid of investing and trading with Ukraine. (Trade Mission of Ukraine) In conclusion it is necessary to mention that trade between Ukraine and the USA deserves special attention.
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It is pointed out that last year Ukraine supplied half a million tones of ferrous metals, iron and manganese ores. It is the evidence that foreign trade between the two countries is developing and profitable. On the base of foreign trade the USA and Ukraine are able to improve their relations in other spheres. References Trade Mission of Ukraine in the USA: Country Profile of Ukraine. Retrieved August, from http://www.brama.com/ua-trade-mission/country.html USA and Foreign Commercial Service. 2005. Retrieved August, from http://www.exporthotline.com.
