On La Ragione, analysis of Italy-Ukraine trade

Today the usual weekly column of opinion newspaper La Ragione – leAli to freedom by Professor Luca Ricolfi and Fondazione Hume dedicated to the quantitative analysis of topical issues, it talks about trade exchanges between Italy and Ukraine. Last week the situation regarding the exchanges between Italy and Russia was examined in depth. However, the war wanted by Putin led to the (hopefully temporary) cessation of trade but also with Ukraine itself. According to the Ministry of Foreign Affairs, in 2021 the total value of trade between the two countries was approximately 5.4 billion euros. The goods exported to Ukraine made up 39.1% of the total value, ensuring a turnover of approximately 2,112 million euros.

On the other hand, the import of goods from Ukraine represented 60.9% of the commercial exchange, for a value of 3,286 million euros. Among the goods most in demand by Kiev are industrial machinery and equipment (22% of all exported goods), chemicals (9.2%), clothing (7.2%), food products (7 , 2%) and household appliances (5.8%). Tobacco (4.9%), beverages (4.4%) and motor vehicles (4%) are also highly valued commodities. As often happens when we look at the types of products exported from Italy, also in this case we can see a clear prevalence of finished or semi-finished products.

Ukraine, on the other hand, is known for the large number of steel mills in the area and for the endless fields of wheat and corn. In fact, 63% of imports concern products derived from metallurgy while food, beverages and agricultural products make up 19.5% of the total. While breaking off relations with Russia was a painful but necessary choice, the trade link with Ukraine was brutally severed by the Russian attack.. This act of bullying risks having serious repercussions on our economy. For an industry like ours, which uses metals extensively, the interruption of the supply of raw materials represents a serious threat to the health of the already vulnerable sector. The complete analysis by Luca Ricolfi and Fondazione Hume correlated with the comment by the editorial staff of La Ragione are available in today’s issue of the newspaper and forever free of charge on the app and website www.laragione.eu.