Exports of goods from Ukraine in monetary terms in July and August 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.
In annual terms, exports in August decreased by only 1.6%, “which in the context of a pandemic sounds like fiction.”
Exports of goods from Ukraine against the background of coronavirus restrictions as a whole in eight months of 2020 amounted to $30.91 billion, down by 6.6%. 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. It says foreign trade is recovering at a much faster pace than after the 2008 crisis,” the deputy minister stressed.
According to the State Statistics Service of Ukraine, the deficit of foreign trade in goods in the first half of 2020 amounted to $1.277 billion, down by 67%. Exports of goods from Ukraine in six months decreased by 6.4%, to $22.913 billion, while imports dropped by 14.3%, to $24.189 billion.
Imports of goods to Ukraine in the seven months of 2020 amounted to $28.8 billion, down by 13%, or by $4.2 billion, while exports stood at $26.6 billion, down by 7%, or by $2.1 billion. The largest shares of exports were cereals (18.5%), ferrous metals (16.9%), as well as fats and oils of animal or vegetable origin (12.8%). (UNIAN/Business World Magazine)
