[OC] The European Union recently granted official candidate status for Ukraine to join. The country significantly impacts the EU’s economy, mainly exporting products to Poland, Germany, Italy, and the Netherlands.
[OC] The European Union recently granted official candidate status for Ukraine to join. The country significantly impacts the EU’s economy, mainly exporting products to Poland, Germany, Italy, and the Netherlands.
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Source: [Ukraine Exports for 2020](https://oec.world/en/profile/country/ukr)
It’s worth mentioning grain exports from Ukraine going worldwide, invasion notwithstanding.
… 3.26 billion is not “significant impact”.
Germany has already published figures for 2021 on its trading partners.
In 2021, Ukrainian exports to Germany were 3.1 billion euros/ 3.23 billion USD and German exports to Ukraine were 5.4 billion euros / 5.62 billion USD. This puts Ukraine in 41st place among our trading partners, which is on a par with smaller EU states such as Bulgaria or Greece.
Ukraine’s economy is unfortunately junk, especially now with the War going on, i think the Economy is expected to contract by 45% for 2022 so be at around $120bn (about as much as Slovakia) will likely further decline in the next years and could go below $100bn and be surpassed by Luxembourg and Bulgaria.
In the long term things will look much better though, Ukraine will definitely remain itself and the War will end, the conflict could go on for decades, as a frozen or political conflict etc.