Foreign trade deficit in Ukraine down by 6.2% y/y to USD 5.8bn in Jan-Sep.

By bne IntelliNews November 14, 2013

In Jan-Sep, the foreign trade deficit contracted by 6.2% y/y to USD 5.8bn (deficit of USD 6.2bn seen in Jan-Sep 2012), the State Statistics service has announced. Foreign trade turnover amounted to USD 117.3bn, down by 8.7% y/y.

The trade deficit with CIS declined 22-fold y/y to USD 155.3mn in the reporting period. The volume of trade with the CIS amounted to USD 42.3bn, down by 15.8% y/y.

Exports of goods and services went down by 8.9% y/y to USD 55.6bn. Exports to CIS amounted to USD 21bn (down by 10.3% y/y), while exports to EU-USD 14.6bn (down by 3.4% y/y). Imports of goods and services contracted by 8.6% y/y to USD 61.5bn. Imports from CIS declined by 20.9% y/y to USD 21.2bn, while imports from EU grew by 3.5% y/y to USD 22.4bn.

The merchandise foreign trade deficit in Jan-Sep declined by 13.9% y/y to USD 9.7bn compared to USD 11.27bn seen in Jan-Sep 2012. In Jan-Sep, exports of goods made USD 46.3bn, down by 9.3% y/y. Commodity imports totaled USD 56bn, down by 10.1% y/y.

The largest effect on formation of merchandise foreign trade deficit in Jan-Sep had: mineral fuels, mineral oils and products of its distillation (-USD 12.9bn), ground transportation vehicles other than railway (-USD 3.9bn), mechanical machinery (-USD 2.3bn), plastics and polymers (-USD 2.2bn), electrical machinery (-USD 1.8bn) and pharmaceuticals (-USD 1.9bn). The coverage ratio of import to export totaled 0.83 (Jan -Aug 2012 – 0.82). Foreign trade operations were conducted with partners from 216 countries of the world.

The volume of exports to the CIS countries amounted to 36.2 % of total exports, Europe – 26.5%, including European Union countries - 26%, Asia – 26.4%, Africa – 7.1%, America - 3.6%, Australia and Oceania - 0.1 %

Significant exports were made to the Russian Federation - 24.7 % of total exports (ferrous metals, mechanical machinery, railway locomotives), Turkey - 6.1% (ferrous metals, fertilizers, fats and oils of animal or vegetable origin), China - 4.4% (ores, slag and ash, fats and oils of animal or vegetable origin, mechanical machines), Poland - 3.9% (ferrous metals ores, slag and ash, electric cars), Italy – 3.7% (ferrous metals, grains, oil seeds and fruits of plants ), Kazakhstan - 3.7% (ferrous metals , railway locomotives, mechanical machines ) and Egypt - 3.5% (ferrous metals , grains , fats and oils of animal or vegetable origin).

Among the major partner countries exports increased to China by 48.8% and Turkey-1.3%. At the same time, exports to Egypt reduced by 18%, Russia – 13.4%, Kazakhstan – 8.9%, and Poland - by 6.4%.

Related Articles

London court prolongs suspension of its judgement on Ukraine's $3bn debt held by Russia

The High Court of Justice in London accepted Kyiv’s position during hearings on $3bn Eurobonds held by Moscow, and granted a further suspension of its ... more

Ukraine’s top 100 SOEs see profits soar 20-fold in 9M16

Profits are soaring at Ukraine’s top 100 state-owned enterprises (SOE) as the economy finds its feet and starts to recover. Net profits of the 94 biggest SOEs jumped 20-fold year-on-year between ... more

Siemens fumes as worst suspicions on Crimea turbines confirmed

German technology major Siemens said on July 21 it has "credible evidence" that all four gas turbines supplied for a power plant in the south of Russia were locally modified and illegally supplied ... more

Dismiss