Deficit of Ukraine's foreign trade in goods 66.7% down in H1

The deficit of Ukraine's foreign trade in goods in January-June 2020 (H1) was estimated at US$1.277 billion, which was 66.7% down year-over-year (y-o-y).

Exports of goods from Ukraine over the period under review shrank by 6.4%, to US$22.913 billion, while imports of goods to Ukraine declined by 14.3%, to US$24.189 billion, according to the State Statistics Service's website.

Read alsoUkraine exports 3.2 mln tonnes of grain since new MYThe ratio of coverage of imports by exports was 0.95 in the six months of 2020.

Over the period under review, Ukraine traded with partners from 220 countries.

Ukraine's key trading partner

China became Ukraine's major trading partner in January-June. The exports to China almost doubled to US$3.005 billion, while the imports from China fell by 7.2% to US$3.647 billion.

Another major trading partner

Then comes Poland with exports of goods from Ukraine estimated at US$1.455 billion (13.9% down) and imports from Poland at US$1.725 billion (8.2% down).

Trade with the European Union

In total, shipments of Ukrainian goods to the European Union countries decreased by 17.1% to US$8.526 billion, while the import from the EU shrank by 12.5% to US$10.339 billion.

Foreign trade in 2019

The deficit of Ukraine's foreign trade in goods and services in 2019 totaled US$3.633 billion, which was 41.2% down from the deficit reported in 2018, according to the State Statistics Service.

In 2019, the deficit in foreign trade in goods alone increased by 8.8%, to US$10.723 billion.