Ukraine-Russia trade may hit 50 billion dollars in 2011: president

Trade between Ukraine and Russia may reach around 50 billion U.S. dollars by the end of the year, Ukrainian President Viktor Yanukovych said here on Wednesday.

"We have restored the trade with Russia and even exceeded last year's figure. I think in 2011 we will come up to 50 billion dollars in trade," said Yanukovych when opening the 13th World Congress of Russian Press.

According to the official data, trade between Russia and Ukraine grew 73 percent year-on-year in the first quarter of 2011 to 12.2 billion dollars. Exports from Ukraine to Russia increased by 63 percent to 4.2 billion dollars, while Russia's exports to its neighbor rose by 79 percent and totaled 8 billion dollars.

Urkaine mainly exports engineering products to Russia, making up 73 percent of the total; while energy accounts for the largest share of Ukraine's imports from Russia, at around 76 percent.

Source: Xinhua

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