Deficit of Ukraine's foreign trade in goods shrinks by 33.4% in Q1

The deficit of Ukraine's foreign trade in goods shrank by 33.4% in the first quarter of 2020 (Q1) year-over-year, to US$1.059 billion.

Exports of goods from Ukraine over this period decreased by 0.2%, to US$12.251 billion, while imports fell by 3.4%, to US$13.310 billion, the State Statistics Service of Ukraine said on its website.

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The ratio of coverage of imports by exports was 0.92.

Ukraine traded with partners from 213 countries and regions.

China was Ukraine's biggest trading partner in the first three months. Exports to China almost doubled, to US$1.253 billion, while imports from China fell by 5.2%, to US$1.907 billion.

Poland was also among the top trading partners. Exports of goods to that country increased by 1%, to US$826.2 million, while imports fell by 0.2%, to US$944.3 million.

In total, exports of goods to EU countries decreased by 8.6%, to US$4.788 billion, while imports of goods from EU countries grew by 0.3%, to US$5.816 billion.

As UNIAN reported, the deficit of Ukraine's foreign trade in 2019 was estimated at US$3.633 billion, which was 41.2% down on the deficit reported in 2018. In 2019, the deficit in foreign trade in goods alone increased by 8.8%, to US$10.723 billion.