Abstract
Trade and economic cooperation between Ukraine and Canada is analyzed in the article. A dynamic analysis of export and import performance of goods and services showed decline in cooperation between the countries in 2014, which is due to military events in eastern Ukraine and hryvnia devaluation. Based on the calculated complementarity index, the authors conclude about complementary structure of bilateral trade and economic relations (complementarity index (TCI) was 56.6 in 2018), which indicates the prospects for further cooperation. The positive impact of the complementarity index on the growth of exports and imports between Ukraine and Canada is confirmed by empirical analysis. However, a major factor to explain the slowdown in foreign trade between countries is the considerable distance, which is accompanied by rising transport costs. The positive impact of foreign trade turnover between countries on Ukraine's GDP was proved by the Scatterplot model.
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