Ukraine is becoming increasingly significant in Germany’s bilateral trade and, despite the war, is growing more attractive for investments.

German exports to Ukraine increased last year by 1.2 billion euros to 8.2 billion euros (+17%). Ukrainian exports increased by nearly 20 percent, making it the second fastest-growing in the region.

Despite the war, nearly half (46%) of companies are considering investing in Ukraine within the next 12 months. Ukraine ranks third, after Poland and Romania, as the most important target country in the region for German investors in the short and medium term. Currently, one in five surveyed companies (21%) has already invested in Ukraine, while 18% plan to invest if a peace agreement is reached.

The country has the potential to become a new energy hub for the European Union, serve as an alternative manufacturing location, and play a significant role in IT and outsourcing for European companies.

As for Russia, its bilateral trade with Germany dropped by an additional 25% to 9.4 billion euros: German exports to Russia fell by 1.3 billion euros to 7.6 billion euros (-15%), while imports from Russia dropped by 50%. Among Germany’s trading partners, Russia now ranks only 45th place.

Reference source: http://surl.li/asdfghjkl