Ukraine halves deficit of foreign trade in goods in two months, China becomes biggest partner

Ukraine halved the deficit of its foreign trade in goods in January-February 2020 year-over-year, to US$422.7 million.

Exports of goods from Ukraine over this period increased by 2.1%, to US$8.114 billion, while imports fell by 3%, to US$8.537 billion, the State Statistics Service of Ukraine said on its website.

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The coefficient of coverage of imports by exports was 0.95.

Ukraine traded with partners from 206 countries and regions.

In the first two months, China became Ukraine's biggest trading partner. Exports of goods to China more than tripled, to US$760 million, while imports from China climbed by 1.4%, to US$1.338 billion.

Poland was also among Ukraine's biggest trading partners: exports of goods to that country increased by 1.9 %, to US$540 million, yet, imports decreased by 1%, to US$604 million.

In general, exports of goods to the EU countries fell by 7.6%, to US$3.193 billion, imports of goods from EU countries dropped by 3%, to US$3.592 billion.

As UNIAN reported earlier, the deficit of Ukraine's foreign trade in goods was estimated at US$10.723 billion in 2019, which was 8.8% up on 2018.