Ukraine’s trade turnover with its 50 largest trading partners in January–June 2026 amounted to approximately $66.97 billion.

Imports from these countries reached $47.35 billion, while Ukrainian exports stood at $19.62 billion. The negative trade balance reached $27.73 billion. Thus, imports accounted for about 70.7% of the turnover with the main partners, while exports made up only 29.3%. The export-to-import coverage ratio was 41.4%, meaning that for every dollar of Ukrainian goods sold abroad, there was approximately $2.41 of imports.

These figures reflect not Ukraine’s entire foreign trade, but its most concentrated part – operations with the 50 leading partners.

The ratio of imports to exports shows that the economy continues to generate significant demand for foreign industrial, technological, and consumer goods, while the ability of Ukrainian producers to offset these purchases with export revenues remains limited. This model is partly explained by wartime needs, the restoration of damaged infrastructure, and imports of energy equipment, vehicles, machinery, electronics, and components. However, the scale of the gap also indicates insufficient export diversification and high dependence on a few traditional commodity groups.

Compared to January–May results, the accumulated trade turnover with the Top 50 partners increased by $11.73 billion, or 21.2%. In June alone, imports from this group of countries amounted to about $8.51 billion, while exports reached $3.22 billion.

The negative trade balance grew by another $5.28 billion in just one month. Imports in June grew slightly faster than exports: after adding the monthly data, the accumulated import volume increased by 21.9%, while exports rose by 19.7%.

China retained its status as Ukraine’s largest trading partner by a significant margin. In the first half of the year, trade turnover with China reached $14.68 billion, of which $13.9 billion was imports of Chinese goods and only $778.4 million was Ukrainian exports. The negative balance stood at $13.12 billion. China accounted for 21.9% of Ukraine’s total turnover with the Top 50 partners and 29.4% of imports from this group. At the same time, trade with China formed about 47.3% of Ukraine’s total trade deficit with the Top 50.

Poland took 2nd place with a turnover of $7.05 billion. Ukraine imported $4.67 billion worth of Polish goods and exported $2.38 billion, resulting in a deficit of $2.29 billion.

Turkey ranked 3rd with a turnover of $4.9 billion. Turkey purchased $1.78 billion of Ukrainian goods and supplied $3.12 billion to Ukraine.

Germany placed 4th with $4.48 billion, and the USA 5th with $3.07 billion. The combined trade turnover with these five countries reached $34.18 billion, or 51% of the turnover with the Top 50. They accounted for 57.8% of imports but only 34.6% of exports.

Italy, in 6th place, stood out with one of the most balanced indicators. With a turnover of $2.65 billion, imports from Italy amounted to $1.37 billion and exports to $1.28 billion, resulting in a deficit of just $91.1 million.

This was followed by Hungary ($1.89 billion), the Netherlands ($1.82 billion), Czechia ($1.77 billion), and Slovakia ($1.64 billion). The Top 10 partners together accounted for $43.95 billion, or 65.6% of the turnover with the Top 50. The first 20 partners provided $55.81 billion, or 83.3%. Consequently, the remaining 30 countries accounted for less than 17% of the turnover.

A key feature is the significant role of EU countries. 20 EU member states made it into the Top 50, with a combined trade turnover of approximately $32.61 billion, or 48.7% of the total for the first fifty. Imports from these countries reached $20.76 billion, while exports stood at $11.85 billion. The EU accounted for nearly 44% of imports and over 60% of exports within the Top 50. The negative trade balance with the EU countries in the ranking was about $8.91 billion.

Ukraine recorded a positive trade balance with only 13 of the 50 largest partners. With 37 countries, imports exceeded exports. The largest surplus was recorded with Spain – $578.1 million. High positive balances were also recorded with Egypt ($527.1 million), Moldova ($467.2 million), Algeria ($309.2 million), the Netherlands ($221.5 million), and Lebanon ($220.5 million).

Besides China, significant negative balances were recorded with Poland ($2.29 billion), Germany ($1.94 billion), the USA ($1.9 billion), and Turkey ($1.34 billion). The five largest partners accounted for over 74% of the total trade deficit with the Top 50. Notable negative balances were also observed with Greece, Czechia, Hungary, France, Lithuania, Sweden, Taiwan, Vietnam, and Japan.

Compared to the January–May results, the composition of the Top 50 in June remained unchanged. However, positions within the list were noticeably redistributed. The biggest rise was shown by Indonesia, which climbed from 43rd to 34th place.

Canada rose from 47th to 40th place, increasing its trade turnover to $220.1 million. Saudi Arabia moved from 27th to 23rd with $649.8 million. Jordan dropped from 41st to 47th, Switzerland from 22nd to 27th, Tunisia from 37th to 41st, and Libya from 39th to 42nd.

Serbia retained 33rd place among Ukraine’s trading partners. In the first half of the year, bilateral trade turnover reached $345.9 million, of which $243.2 million was imports of Serbian goods and $102.7 million was Ukrainian exports. In June, bilateral turnover amounted to about $55.8 million. The negative balance for Ukraine over six months reached $140.5 million.

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