Page 36 - UKRRptJune18

3,310 tonnes. The country imported pork for $5.91mn against $1.24mn in January-April 2017. As reported, with reference to customs data of the fiscal service, Ukraine in 2017 increased the supply of pork to foreign markets by 1.6 times, to 4,920 tonnes, imports of this product doubled, to 5,600 tonnes.
Ukraine's parliament, the Verkhovna Rada, has greenlighted an increase of the export duty rate on scrap metal from €30 per tonne, to €42 per tonne and extended its effect for another 12 months (until September 14, 2019). The move was attributed to the need to reduce the deficit of ferrous metal scrap on the domestic market. The increase follows on from an increase from €10 to the current €30 introduced last year. However, the European Union has voiced concerns over the changes which clash with Ukraine’s commitments under the the Deep and Comprehensive Free Trade Area (DCFTA) with the EU. As part of the agreement Ukraine committed to not introducing new customs duties on exports, and dismantling existing ones over a transitional period.
External balance
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Jan-Nov 2017 2018F 2017 E
Exports (US$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
36 UKRAINE Country Report June 2018 www.intellinews.com