Page 35 - UKRRptJun19

5.2.1 Import/export dynamics
External 2007 2008 2009 2010 2011 2012 2013 2014 balance
2015 2016
2017 2018 E F
Exports (US$bn) 61.4 82.5 52.1 65.6 83.7 86.5 81.7 65.4 47.6 44.9 60.2 60.8
Imports (US$bn) 69.5 96.8 54 69.6 93.8 100.9 97.4 70 49 50.3 54.6 57.2
Trade balance -8.1 -14.4 -2 -4 -10.1 -14.3 -15.6 -4.6 -1.5 -2.9 -5.3 -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
Russia’s June 1 restrictions on exports of light oil product and energy coal do not pose “any problems at all,” Prime Minister Groysman said Saturday. While alternative suppliers are lined up, coking coal, diesel and gasoline present more problems, he said. Last year, Russia supplied 70% of Ukraine’s imported coal. Ukraine imported 15mn ton of coal from Russia, paying $1.8bn. Russia supplied 39% of Ukraine’s oil products imports. Ukraine imported 3.2mn tons, paying $2bn.
This summer, anti-dumping duties are to go on imports to Ukraine of cement from Russia, Belarus and Moldova. Scheduled to last for five years, the duties, as a% of value, are: 115% for Russia; 94% for Moldova; and 57% for Belarus. Separately, virtually all cement imports from Russia are banned starting Aug. 1, reports Economic Development and Trade Ministry.
Sales of food to the EU increased by 24% during the first quarter. Exports hit $1.9bn, giving Ukraine a surplus of $1.1bn, according to Mykola Pugachev, deputy director of the Institute of Agrarian Economics. By April 1, Ukraine had fully used its annual EU quotas for honey, corn, sugar, apple juice and grape juice. Separately, Hugues Mingarelli, EU ambassador to Ukraine, told a conference in Kyiv: “I hope that there is an opportunity to discuss the issue of quotas, especially in agriculture.”
Poland displaced Russia as the top buyer of Ukrainian goods, as Ukraine’s trade with Russia dropped 11% q-o-q, to $2.4bn. In the January- March period, Ukraine sold $818mn worth of goods to Poland, compared to $759mn to Russia. Ukraine’s trade with Russia is expected to further drop this summer after the June 1 start of Moscow’s second trade embargo list with Ukraine in six months. While trade with Russia fell, Ukraine’s trade with the EU grew by 10% to $9.5bn. The EU accounts for 38% of Ukraine’s foreign trade.
Ukraine in January-March 2019 (Q1) boosted exports of agricultural products to the European Union states by 24.4% to $1.88bn, while imports grew by 9.9%, according to acting Minister of Agrarian Policy and Food of Ukraine Olga Trofimtseva. farm produce imports in Q1 totalled $734.6mn, having increased by 9.9% y/y.Ukraine has exported 42.4 million tonnes of grain and leguminous crops since the beginning of the current marketing year
35 UKRAINE Country Report June 2019 www.intellinews.com