Introduction Ukraine is the largest country in Europe in terms of land mass. The country borders Belarus on the northwestern side, Russia from its eastern and northeastern side, and Black Sea from its southwestern side. Ukraine also borders Poland, Hungary, and Slovakia. It continues to enjoy the second largest military body among all European nations. The country has a population of about 45.4 million people. Most of the Ukrainian Christians are members of the Eastern Orthodoxy. Ukraine has a market economy that formed immediately after the planned economy of the former Soviet Union. However, after the collapse of the Soviet Union, the economy of Ukraine began experiencing a major slump. Ukraine’s population also gradually became poor. In the efforts to curb this situation, the government successfully liberalized trade in 1991. The government also subsidized most of the public industries and the agricultural sector in the country. However, high rates of inflation grew speedily in 1990s to a hyperinflation. For example, Ukraine had the highest rate of inflation in the world within a period of one year. In 2008, the economy suffered the great economic crisis effects. As the paper reveals, the country is currently facing various international economic conditions. Ukraine and the International Trade Many countries have expanded their businesses to the global levels as a way of boosting their productivity. Ukraine is not an exception. As Dabrowski and Taran confirm, the country has been a major player, especially in the European Union (2). The major international trade partner to Ukraine is Russia. Other trade partners include Turkey, Italy, Germany, China, Poland, USA, France, and Turkmenistan among others. Ukraine is both an exporter and an importer of various goods to and from other countries. The major exports from Ukraine include iron and steel, mineral fuels, oil, gasoline, nuclear reactors, machinery, cereals, tools, and base metals. Ukraine also imports goods from various nations in the world. Such commodities include mineral fuels and crude petroleum, nuclear reactors, vehicles, electronics, paper and paperboard, and articles of pulp (Hoekman, Jensen, and Tarr 796). For several years before the onset of economic and political crisis, the economy of Ukraine was rated one of the best in Europe. The country has relied on imports to sustain its economy. Several factors come into play to necessitate the country’s imports. To begin with, Ukraine’s internal energy sources can only cater for 15% of its yearly energy needs (Dabrowski and Taran 6). This finding implies that Ukraine has to import energy sources, including oil, nuclear reactors, and electricity. Secondly, the forest cover in Ukraine is small and inadequate for its timber and wood product needs. Hence, for it to sustain its pulp, timber, and paper-dependent industries, it has to import wood products. Thirdly, Ukraine does not have the absolute advantage of manufacturing cars as the situation is witnessed in Germany and Japan. Therefore, it is economical for it to import cars from various nations of the world. Deploying the Heckscher-Ohlin model, a nation that is abundant in the production of a particular factor has the