Foreign trade balance in Jan-Aug sees US$582 mln deficit – NBU

Ukraine's balance of foreign trade in goods and services for January-August 2020 was reduced with a deficit of US$582 million against a deficit of US$7.5 billion reported a year earlier, the National Bank says.

The deficit of foreign trade in goods over the reporting period decreased by more than 50% – from US$8.4 billion to US$3.8 billion, as reported on the NBU website.

Read alsoUkraine sees no banking crisis amid economic recession – NBUAt the same time, the surplus of foreign trade in services increased by almost 75%, from US$830 million to US$3.2 billion.

Foreign trade balance: Background

The State Statistics Service of Ukraine says the country's foreign trade balance for 2019 was reduced with a deficit of US$3.633 billion, which is 41.2% times lower than that in 2018.

At the same time, according to the NBU estimates, the balance of foreign trade in goods and services of Ukraine for 2019 was reduced with a deficit of US$12.117 billion, which is 7% more than a year earlier.