Financial crisis: Ukraine significantly reduces imports, exports of goods

Imports of goods to Ukraine over the nine months of 2020 amounted to $38 billion, which is 11.8%, or $5.1 billion, less on year.

At the same time, Ukrainian goods were exported worth $35.1 billion, which is 5.6%, or $2.1 billion, against the same period in 2019, the press office of the State Customs Service reports.

Read alsoGas imports from Europe at 14.8 bcm, setting record highTrade turnover in January-September 2020 stood at over $73 billion, while the export-to-import balance is negative, amounting to $2.9 billion.

"Major imports came from China ($5.8 billion), Germany ($3.7 billion) and Russia ($3.4 billion). Total exports to China stood at $4.8 billion, to Poland – at $2.3 billion, and to Russia – at $2 billion," the report reads.

TOP 3 exports

Grains top the list at $6.8 billion, then go ferrous metals at $5.8 billion, and sunflower oil at $4 billion.

TOP 3 imports

At the top are mineral fuels, oil, and petroleum products at $5.7 billion, then come machinery, equipment, and mechanical devices at $4.3 billion, while land transport completes the top 3 at $3.8 billion.

Background

Imports of goods to Ukraine for the eight months of 2020 amounted to $33.3 billion, which is 12.4%, or $4.7 billion, less year-on-year, while export of Ukrainian goods amounted to $30.9 billion, which 6.6%, or $2.2 billion, less than in the same period last year.