Trade

The volume of trade between Ukraine and Denmark in 2020 amounted to $700.7 million*, showing a decrease of $89.7 million (-11.3%) compared to 2019.

Denmark was one of Ukraine’s 50 largest trading partners (33^rd place) with trade between the two countries accounting for 0.59% of Ukraine’s total foreign trade. Denmark was Ukraine’s 40^th largest partner in trade in goods (0.42%) and 15^th in trade in services (1.6%).

Among the EU countries, Denmark ranked on these indicators 15^th (total trade), 17^th (trade in goods) and 8^th (trade in services).

At the end of 2020, it became the 13^th largest exporter of services from Ukraine (larger than all other Scandinavian countries combined) and ranked 19^th in terms of imports of services to Ukraine (71.2% of Scandinavian imports to Ukraine).

Exports of Ukrainian goods to Denmark in 2020 amounted to $216.9 million (14.8% down), exports of services – to $190.5 million (2.3% up). Total exports of goods and services to Denmark amounted to $407.4 million, showing a decrease of 7.6% compared to 2019.

Imports of goods from Denmark during this period amounted to $220.9 million (19.4% down), imports of services amounted to $72.3 million (3.8% down). Total imports from Denmark amounted to $293.3 million, showing a decrease of 16.1% compared to 2019.

The balance of bilateral trade between the two countries was positive for Ukraine. According to the results of 2020, it amounted to $114.2 million.

Investments

In 2020, the Ukrainian economy received $16.1 million in equity instruments, net of debt instruments (according to the National Bank of Ukraine).

At the beginning of 2021, the total direct investment from Denmark in the Ukrainian economy amounted to $338.5 million (0.45% of the total investment in Ukraine), consisting of $248.3 million of equity instruments and $90.1 million of debt instruments.

The main investment capital has been invested in the agriculture, forestry and fisheries (42.2%), processing industry (18.4%), professional, scientific and technical activities (13.9%), wholesale and retail trade (13%), transport, warehouse and postal activities (8.6%).

* Hereinafter the data of the State Statistics Service of Ukraine are given, unless otherwise indicated. These data do not take into account the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and parts of the temporarily occupied territories in Donetsk and Luhansk regions.

All amounts expressed in U.S. dollars unless otherwise noted.