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
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Closer cooperation through FDI, including manufacturing and metallurgy.
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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.
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Development of border infrastructure and transport can support growth in both countries.
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Mutual investment in engineering, energy, defence, and food processing seem promising.
Interesting fact
