A 19 percent decline in Swedish exports to Ukraine in 2014, down to 204 million euros, is another sign of the weakening purchasing ability among Ukrainians. The hryvnia’s steep devaluation in the last year and legal obstacles are clearly impediments to Swedish companies who bring paper, machinery and oils to the local market.By contrast, Ukraine’s exports to Sweden in 2014 increased 16 percent, from 45 million euros to 52 million, mostly in machinery and furniture.

Out of the 80 Swedish companies with established offices in Ukraine, some of the big names include Volvo, Kinnarps, Ericsson, Scania, Electrolux and Tetra Pak.



Kinnarps

Devaluation this year “is hitting our company severely,” says Vladyslav Mieshkov, 38, chief executive officer of Kinnarps, a furniture producer from Sweden. It decreased the expected revenue in the first two months of 2015 by 41,000 euros. Last year sales reached 534,000 euros.