REUTERS
Ukrainian exports fell by 5.9% in the 11 months of 2016, to US$32.7 billion year-over-year (y-o-y), according to Ukraine's Economic Development and Trade Ministry.
The ministry named key groups of export staples over the period under review: farm produce exports totaled $13.57 billion, metalware exports were estimated at $7.6 billion, and those of engineering products stood at $3.94 billion. However, only the agricultural sector demonstrated export growth, by 4.1%, while exports of metalware and engineering commodities declined by 13.2% and 9.9%, respectively.
Ukraine's key industrial regions, namely Dnipropetrovsk, Kharkiv, Odesa regions, and the city of Kyiv, demonstrated a slowdown in the export downward trend. However, only Lviv, Ivano-Frankivsk, and Luhansk regions showed positive export dynamics.
Read alsoUkraine sees pork, beef production growth in 2016The ministry also listed the factors that had affected the exports, among them are a trade and transit embargo introduced by Russia; the ongoing social, economic and political instability; the war in the east of the country. Other factors that had an impact on the situation are that the economy is significantly dependent on raw materials and the real sector does not get enough lending.
"Systemic economic problems, namely difficulties with VAT refunds, banking restrictions, corruption in the regulatory agencies, including the customs, have also contributed to the negative impact [on the exports]," the ministry reported.
Commenting on the situation, Ukraine's Trade Envoy Natalia Mykolska said on Facebook: "Exports in November 2016 exceeded exports in November 2015 by $474 million. Exports still demonstrate a downward trend, but the pace of the decline has been slowing. Exports of processed goods are on the rise along with the search for new markets."
As UNIAN reported earlier, the deficit of Ukraine's foreign trade in commodities in January-November 2016 amounted to $2.324 billion against a $315.5 million surplus y-o-y, the State Statistics Service said.