Deficit of Ukraine's foreign trade in goods 1.5 times up in Jan-Feb 2018

The deficit of Ukraine's foreign trade in commodities was estimated at US$741.1 billion in January-February 2018, which was by 1.5 times up from a $491.4 billion deficit year-over-year (y-o-y).

Exports of goods from Ukraine over the period under review grew by 17.9% y-o-y, to $7.377 billion, while imports of goods rose by 20.3%, to $8.118 billion, the Ukrainian State Statistics Service said.

The ratio of import coverage by exports was 0.91 in the two months of 2018 against 0.93 y-o-y.

Over the period under review, Ukraine traded with partners from 201 countries and regions.

Read alsoUkraine businesses forecast hryvnia rate for coming yearExports of goods to the EU countries soared 36.2%, to $3.324 billion, while imports of goods from the EU rose 17.8%, to $3.308 billion.

Exports of commodities to Russia shrank by 5.3%, to $541.6 billion, while imports of goods from the Russian Federation grew by 25.3%, to $1.275 billion.

Earlier, the National Bank of Ukraine estimated the deficit of Ukraine's foreign trade in commodities in January-February at $1.1 billion, which was 35% up from deficit in January-February 2017. At the same time, the deficit of foreign trade in commodities increased by 38.8%, to $1.26 billion.

As UNIAN reported earlier, the deficit of Ukraine's foreign trade in 2017 was estimated at US$2.625 billion against the surplus at $541.6 million in 2016.

However, the National Bank of Ukraine said that Ukraine's foreign trade in goods and services showed a deficit of $6.848 billion in 2017, which was 25.2% up from the deficit reported in 2016.