Exploring Graphically the Commerce of Ukraine
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In 2020, Ukraine played a significant role in the global trade scene, particularly as a leading exporter of agricultural goods and raw materials. A data visualization by Visual Capitalist provides insights into Ukraine's top trading partners and the goods they import and export.
Ukraine's top trading partners in 2020 included the European Union, China, Russia, Turkey, and several other European and Asian countries such as Poland, Italy, Germany, Belarus, India, the Netherlands, Spain, France, and Hungary.
Major exported products from Ukraine in 2020 were primarily: - Cereals (notably wheat and corn), - Iron and steel products, - Ores and concentrates (including iron ore), - Sunflower oil and other agricultural goods, - Chemicals and machinery.
Major imported products included: - Mineral fuels and oils (including refined petroleum), - Machinery and equipment, - Vehicles, - Pharmaceuticals, - Plastics and chemical products.
The European Union was the biggest trade bloc partner, accounting for a large share of Ukraine's trade volume across these categories. China, on the other hand, was a key player in supplying machinery and electronics, while Russia provided raw materials and energy, and Turkey was a significant market for agricultural products.
The visualization does not specify the exact number of Ukraine's top 10 trading partners or provide information about the value or total volume of goods imported or exported by Ukraine in 2020. However, it does show the percentage of goods imported versus exported for Ukraine's top 10 trading partners in a half circle.
Among the other notable facts, Ukraine exported 15 percent of the world's grain supply, 4 percent of the world's fertilizers, 5 percent of the world's coal, and 9 percent of the world's iron ore in 2020. Additionally, Ukraine exported 2 percent of the world's metal products and 3 percent of the world's ores, other than iron ore.
In summary, Ukraine's trade balance in 2020 was dominated by commodities and raw materials for exports, while imports focused on industrial and energy goods. The visualization provides a valuable snapshot of Ukraine's trade landscape, highlighting its key trading partners and the goods they import and export.
[1] Visual Capitalist. (2020). Ukraine's Top Trading Partners and Major Goods in 2020. [Online]. Available: https://www.visualcapitalist.com/ukraines-top-trading-partners-2020/ [5] Visual Capitalist. (2020). Ukraine's Top Exports and Imports in 2020. [Online]. Available: https://www.visualcapitalist.com/ukraines-top-exports-imports-2020/
- In the finance industry, an analysis could be conducted using AI and data from the Visual Capitalist's data visualization to predict the potential growth of Ukraine's trade relationships with its top partners like the European Union, China, Russia, Turkey, and others, in the coming years.
- The AI-driven data visualization in the finance industry could also help in understanding the trends of Ukraine's major exported products such as cereals, iron and steel products, ores, sunflower oil, chemicals, and machinery, and their impact on international commodity prices.
