Merchandise foreign trade deficit in Ukraine down 1.5-fold y/y to USD 5.8bn in Jan-Jul.

By bne IntelliNews September 13, 2013

Merchandise foreign trade deficit down 1.5-fold y/y to USD 5.8bn in Jan-Jul. In Jan-Jul, the merchandise foreign trade deficit has declined 1.5-fold y/y to USD 5.8bn compared to USD 8.7bn seen in Jan-Jul 2012, the State Statistics Service has announced. Exports of goods in Jan-Jul, declined by 8.9% y/y to USD 3.6bn, imports of goods contracted by 13.2% y/y to USD 4.2bn.

The largest effect on formation of foreign trade deficit had: Mineral fuels, mineral oils and products of its distillation (-USD 8.5bn), ground transportation vehicles other than railway (-USD 3bn), mechanical machinery (-USD 1.7bn), plastics and polymers (-USD 1.7bn), electrical machinery (-USD 1.5bn) and pharmaceuticals (-USD 1.5bn). The coverage ratio of import to export totaled 0.86 (Jan -Jul 2012 – 0.82). Foreign trade operations were conducted with partners from 209 countries of the world.

The volume of exports to the CIS countries amounted to 36.4 % of total exports, Europe - 27.3 %, including European Union countries - 26.7%, Asia - 25.5%, Africa - 6.8%, America - 3.9%, Australia and Oceania - 0.1 %.

Significant exports were made to the Russian Federation - 24.9 % 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), Italy - 4% (ferrous metals , grains , oil seeds and fruits of plants ), Poland - 3.9% (ferrous metals ores, slag and ash , electric cars), Kazakhstan - 3.7% (ferrous metals , railway locomotives, mechanical machines ) and Egypt - 3.3% (ferrous metals , grains , fats and oils of animal or vegetable origin).

Among the major partner countries exports increased to China by 50.4 % and Italy - by 3 %. At the same time, exports to Egypt reduced to 24.2%, Russia - 13%, Kazakhstan - 11.7%, and Poland - by 8 %.

Imports from Europe accounted for 37.5% of total imports, including from the European Union, 35.4% of the CIS countries 34%, Asia 21.1%, America - 6.2%, Africa - 1.1%, Australia and Oceania - 0.1 %.

The greatest revenue came from the Russian Federation 27.4 % (mineral fuel , oil and distillation products , mechanical machinery , ferrous metals), China 11.4% (electrical and mechanical machinery , footwear) , Germany 9.3% (ground transport other than railway , mechanical and electrical equipment) , Poland - 5.2 % (mineral fuels, mineral oils and products of its refining, plastics , polymers , mechanical machines), Belarus - 5% (mineral fuels, mineral oils and products of its distillation facilities land transport other than railway , mechanical machinery) , United States - 4% (mechanical machinery , means of land transport other than railway , mineral fuel , oil and distillation products) and Italy - 2.8% (mechanical machinery , plastics , polymers , pharmaceutical products).

Imports of goods from China increased by 16.3 % and Poland - by 13.9 %. At the same time, imports contracted from Belarus by 30.5 %, the Russian Federation - by 28 %, Italy - by 11.2 % and the United States - 9.3%.

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