REUTERS
Ukraine increased exports of goods of its light industry by 10.1% in the first quarter of 2017 (Q1) year-over-year, to US$251.4 million, according to the Ukrainian Economic Development and Trade Ministry's press service.
The share of the light industry in Ukrainian exports was 2.4%. Most popular export-oriented staples were textile fabrics and goods, accounting for 68.2% ($171.5 million), as well as footwear, hats, umbrellas, raw fur, animal skins, and leather goods whose share was 31.8% ($80.0 million).
Read alsoOil rises on prospect that output cut could extend beyond 2017 – mediaThe European Union accounted for almost 83.8% of all exports over the period under review.
"Ukraine's light industry ranked third among the most important sectors of the creative industry, according to international experts' conclusions recorded in the Strategic Export Development Roadmap. What is more, these are fashionable, beautiful products that are gaining popularity in the world. The value-added products have incredible potential on the domestic and foreign markets," Minister of Economic Development and Trade Stepan Kubiv said.
As UNIAN reported earlier, Ukrainian Prime Minister Volodymyr Groysman estimated that the share of the light industry in the country's economy might grow to several percent of GDP in the medium term. Nowadays, the light industry accounts for about 1% of Ukraine's economy.