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In August, Ukraine exported 13% more products against July.
Exports of goods from Ukraine in monetary terms in July and August 2020 kept growing as compared to the previous months.
That's according to Taras Kachka, Deputy Minister for Development of Economy, Trade, and Agriculture, who is also the country's Trade Representative.
"Our exports have been growing for two consecutive months. July was slightly better than June, while growth in August amounted to 13% to July," Kachka wrote on Facebook.
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Foreign trade amid coronavirus
Exports of goods from Ukraine against the background of coronavirus restrictions as a whole for eight months of 2020 amounted to $30.91 billion, which is 6.6% lower than last year.
At the same time, imports dropped by 12.39%.
"International trade is recovering at a much faster pace than after the 2008 crisis," said Kachka.
"But the good news is how quickly trade is recovering. This is confirmed not only by our statistics, but also by the research of Germany's Kiel Institute for the World Economy, published yesterday. It says foreign trade is recovering at a much faster pace than after the 2008 crisis," the deputy minister stressed.
Foreign trade deficit
According to the State Statistics Service of Ukraine, the deficit of foreign trade in goods for the first half of 2020 amounted to $1.277 billion, which is 67% lower than the deficit for the same period of the previous year.
Exports of goods from Ukraine for six months decreased by 6.4%, to $22.913 billion, while imports dropped by 14.3%, to 24.189 billion.
Fall in foreign trade
Imports of goods to Ukraine for the seven months of 2020 amounted to $28.8 billion, which is 13%, or $4.2 billion, less on year, while exports stood at $26.6 billion, which is 7%, or $2.1 billion, less y-o-y.
The largest shares of exports are: cereals (18.5%), ferrous metals (16.9%), as well as fats and oils of animal or vegetable origin (12.8%).