Page 29 - UKRRptJul21

Ukrainian Institute of the Future, Suspilne.Media reported on June 15.
However, the figures were still modest, only $380mn, and the U.K. is “not a key trading partner.”
The reason for growing exports to China from Ukraine was another — surging demand for grain and iron ore for its infrastructure projects. The price for iron ore, for example, increased from $87 per ton to $225 amid the recovering global economy due to the covid-19 pandemic. The same happened with titanium sponge, in especially high demand in China.
In the first two months alone, Ukraine exported products worth over $1bn, 44% more than the last year, according to the Head of the State Food and Consumer Service Vladislava Magaletskaya.
Import of goods also grew by 26% and reached $25.7bn as of June. Ukraine imported cars, mineral fuels, oil products, chemicals, and various equipment.
As a result, Ukraine’s trade deficit grew to $1.3bn, $340mn more compared to last year’s figures.
29 UKRAINE Country Report July 2021 www.intellinews.com