Merchandise foreign trade deficit in Ukraine contracts by 9.2% y/y in Jan-Oct.

By bne IntelliNews December 13, 2013

Merchandise foreign trade deficit in Ukraine contracted by 9.2% y/y in Jan-Oct to USD 11.5bn compared to USD 12.7bn deficit seen in Jan-Oct 2012, the State Statistics Service has announced. Exports of goods amounted to USD 51.9bn, down by 9.4% y/y. Imports of goods also declined by 9.4% y/y to USD 63.4bn.

The largest effect on formation of merchandise foreign trade deficit in Jan-Oct had: mineral fuels, mineral oils and products of its distillation (-USD 15.3bn), ground transportation vehicles other than railway (-USD 4.3bn), mechanical machinery (-USD 2.6bn), plastics and polymers (-USD 2.5bn), electrical machinery (-USD 2.1bn) and pharmaceuticals (-USD 2.3bn). The coverage ratio of import to export totaled 0.82. Foreign trade operations were conducted with partners from 219 countries of the world.

The volume of exports to the CIS countries amounted to 35.9 % of total exports, Europe – 26.6%, including European Union countries - 26%, Asia – 26.2%, Africa – 7.6%, America - 3.5%, Australia and Oceania - 0.1 %

Significant exports were made to the Russian Federation – 24.5 % of total exports (ferrous metals, mechanical machinery, railway locomotives), Turkey - 6% (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 – 4% (ferrous metals ores, slag and ash, electric cars), Italy – 3.9% (ferrous metals, grains, oil seeds and fruits of plants ), Kazakhstan - 3.7% (ferrous metals , railway locomotives, mechanical machines).

Among the major partner countries exports increased to China by 47.9% and Turkey-1.1%. At the same time, exports to Egypt reduced by 14.6%, Russia – 13.8%, Kazakhstan – 10.1%, and Poland - by 5.0%.

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