Centre for Economic Strategy (CES), an independent Ukrainian think tank that analyzes key public policies and promotes support for reforms.
With donor support, CES has launched a series of studies on trade relations between Ukraine and the European Union countries.
Free movements of goods and services
Both pre-war and now, UA’s main export to SK has been iron ore. 99% of all iron ore imports of SK came from UA
UA exports transport, business, and materials-processing services
1.7%
In 2024, 1.7% of SK’s total exports went to Ukraine, including electricity, smartphones, and war-related ammunition
SK runs a net surplus and has exported around 4% of its total extra-EU service export to UA, specifically transport, telecommunication,
business and IT services
Trade Balance UA-SK 2024
Free movement of persons and capital
Pre war:
56k
Ukrainians in SK
Post-2022:
+139k
with temporary protection (Dec 2025)
~ 67% employed; ~30% working age; 76% consider staying for 5+ years
UA FDI in IT:
EU Poultry, Craft in SK, UTAS Technologies, Atwix, ARM Servis, etc
SK FDI in UA:
€185
€185 m in 2024 (0,5% of EU FDI). Highest in 2021 —
€246 m
SK’s FDI stock in UA, EUR million
Tighter co-operation potential
Closer cooperation through FDI, including manufacturing and metallurgy.
Slovakia supported EU’s solidarity lanes and remains an essential pillar of Ukraine’s energy resilience through electricity and fuel exports and participation in energy system reconstruction.
Development of border infrastructure and transport can support growth in both countries.
Mutual investment in engineering, energy, defence, and food processing seem promising.
Interesting fact
