Economy, Foreign Trade

In 2000 Ukraine imported $14 billion of goods and exported $14.8 billion. The major imports are oil and gas from Russia and Turkmenistan and technology from Western nations. Exports, which are minimal for a developed country, consist mainly of raw materials and agricultural goods. Leading purchasers of exports are Russia, China, Belarus, Turkey, and Germany; principal sources of imports are Russia, Turkmenistan, Belarus, Germany, and China. Ukraine is experiencing great difficulty breaking into the global market.

In 1992 Ukraine became a member of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (World Bank). It also became affiliated with the European Bank for Reconstruction and Development (EBRD). Ukraine is an associate member of the trade and economic union of the Commonwealth of Independent States (CIS), the loosely organized alliance of 12 former Soviet republics.