Page 28 - UKRRptSept18

5.2 Balance of payments, current account 5.2.1 Import/export dynamics
External 2007 2008 2009 2010 2011 2012 2013 201 2015 2016 Jan-Nov 2017 2018 balance 4 2017 E F
Exports (US$bn) 61.4 82.5 52.1 65.6 83.7 86.5 81.7 65.4 47.6 44.9 39.4 60.2 60.8
Imports (US$bn) 69.5 96.8 54 69.6 93.8 100.9 97.4 70 49 50.3 44.5 54.6 57.2
Trade balance -8.1 -14.4 -2 -4 -10.1 -14.3 -15.6 -4.6 -1.5 -2.9 -5.2 -5.3 -6.4 (US$bn)
Trade balance -5.7 -7.8 -1.7 -2.9 -6.2 -8.2 -8.7 -3.5 -1.6 -5.8 / -4.4 -5.9 (% of GDP)
Source: ICU
Ukrainian agri-exports total $8.6bn in six months. Asia is Ukraine’s biggest agri-export destination . Ukraine exported $3.7bn worth of agricultural goods to Asia of 43.2% of the total in the first half of 2018 overtaking Europe as the country’s most important trade partner for the product group. The European Union countries accounted for 30.4% or $2.6bn worth of Ukraine's agri-exports in the same period. "Asian countries have retained the position of major importers of [Ukrainian] agricultural products for several years. In January-June 2018, they purchased Ukrainian foodstuffs worth $3.7bn. Asia's share for this period was 43.2% of total farm produce exports," the press service of the National Scientific Center "Institute of Agrarian Economics" said in a statement on August 1, reports UNIAN . Asia, Africa, the European Union, and the CIS remain Ukraine’s key export markets for Ukrainian farm produce, accounting for 97% of Ukraine’s agri-exports in the first half of 2018. Shipments of farm produce to African countries stood at $1.3bn, or 14.6% of Ukraine's total agricultural exports in the first half of this year. While CIS member states, including Russia, bought Ukrainian foodstuffs worth $0.7bn, or 8.6% of total agricultural exports. India topped the ranking of individual countries that import Ukrainian farm produce, having bought foodstuffs worth $1bn. Egypt retained the second position, having imported Ukrainian agricultural products – mainly grain -- worth $576mn. China ranked third with $527mn in farm produce purchases from Ukraine. Ukrainian exporters also received significant revenues from the Netherlands ($525mn), Spain ($470mn), Turkey ($458mn), and Italy ($449mn), reports UNIAN.
Ukraine’s exports of agricultural produce was almost flat y/y and totalled $8.6bn in January-June vs. $8.7bn in the same period of 2017, according to the Agrarian Ministry. Agricultural exports were led by Ukraine's traditional products of grains (36.8% share), vegetable oils (26.2%) and oilseeds (7.5%), Interfax news agency reported on August 21. Meanwhile, the fastest-growing food groups included eggs (more than doubling to $27.7mn); apples, foldpears and quinces (advancing 5-fold to $6.7mn); legumes (surging to $11mn); and
28 UKRAINE Country Report September 2018 www.intellinews.com