Ukraine sees deficit of foreign trade shrink in seven months of 2020

Ukraine saw a deficit of foreign trade shrink in January-July 2020, to US$2.119 billion.

It was 56.5% down year-over-year, when the country's foreign trade deficit was estimated at US$4.968 billion, the State Statistics Service of Ukraine said on its website.

Read alsoDecline in exports, imports of goods reported – State Customs Service

Imports of goods and services into Ukraine during this period decreased by 14.7%, to US$28.74 billion, while exports fell by 7.3%, to US$26.62 billion.

The export-import coverage ratio over the period under review was 0.93 against 0.85 in January-July 2019.

Ukraine traded with partners from 221 countries and regions.

The State Statistics Service recalled that the data is given without taking into account information from the Russia-occupied regions, namely Crimea, the city of Sevastopol, and parts of Donetsk and Luhansk regions.

Background

• According to the State Statistics Service, Ukraine's foreign trade balance in 2019 saw a deficit of US$3.633 billion, which was 41.2% less than the deficit in 2018.
• The deficit of foreign trade in goods alone rose by 8.8% in 2019, to US$10.723 billion.