Deficit of Ukraine's foreign trade in goods 75% down in Jan-May

Deficit of Ukraine's foreign trade in goods in January-May 2020 was estimated at US$620.6 million, which was 75% down from the deficit recorded year-over-year (y-o-y).

Exports of goods from Ukraine over the period under review shrank by 6.5%, to US$19.529 billion, while imports of goods to Ukraine declined by 14.5%, to US$20.150 billion, according to the State Statistics Service's website.

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The ratio of coverage of imports by exports was 0.97 in the five months of 2020.

Over the period under review, Ukraine traded with partners from 217 countries.

China became Ukraine's major trading partner in January-May. The exports to China almost doubled to US$2.385 billion, while the imports from China fell by 7.5% to US$3.016 billion.

Then comes Poland with exports of goods from Ukraine estimated at US$1.231 billion (14.2% down) and imports from Poland at US$1.412 billion (10.9% down).

In total, shipments of Ukrainian goods to the European Union countries decreased by 15.9% to US$7.369 billion, while the import from the EU shrank by 12.8% to US$8.626 billion.

UNIAN memo. 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.

At the same time, the National Bank said the deficit of Ukraine's foreign trade in goods and services in 2019 was estimated at US$12.117 billion, which was 7% up year-on-year.

The surplus of Ukraine's foreign trade in goods and services in January-May 2020 totaled US$305 billion against a US$3.495 billion deficit posted y-o-y.