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this year, compared to the same January-June period last year. With revenues of $3.9bn, metallurgical products accounted for 17% of the nation’s exports in the first half, reports the State Customs Service. With world iron prices strong, Ukraine’s vertically integrated mine-to-steel companies found it more profitable to export iron ore.
A new China-Kyiv container train – passing through Mongolia and Russia – will become weekly, reports Gudok 1520, a Moscow-based railroad news site. Alexander Polishchuk, director of Kyiv’s left bank freight depot in Liski is quoted saying: “In the future, it may be two trains a week or even more, up to four.” Ivan Yuryk, the Ukrzaliznytsia head, is quoted saying: “We will negotiate with businesses regarding the possibility of exporting to China. We would like to show that this is a faster and more economically profitable route than the sea route.”
China, Ukraine’s largest trading partner, has authorized four Ukrainian producers of rapeseed meal to supply China’s market, reports Ukraine’s Food Safety agency. A byproduct from processing rapeseed into canola oil for cooking, the meal is a high-protein feed for cows, pigs and chickens.
China has opened its market to Ukrainian blueberries, fresh and frozen,
reports Ukraine’s Service for Food Safety and Consumer Protection. Ten Ukrainian berry producers have already registered for exporting to China. Separately, Singapore has opened its market for Ukrainian processed pork and chicken meat, reports the Food Safety Service.
5.2.2 Current account dynamics
Ukraine posted a current account surplus of $773mn in June of 2020,
compared to a $783mn deficit in the corresponding month of the previous year, as the goods and services gap narrowed sharply to $215mn from $2,923mn.
Meantime, the primary income surplus fell to $692mn from $792mn and the secondary income surplus went down to $296mn from $848mn. Considering the second quarter of 2020, the country’s current account surplus declined to $3,481mn from $4,304mn a year ago.
Ukraine reported a current account (C/A) surplus of $1.4bn in May, declining from a $1.9bn surplus in April, the National Bank of Ukraine (NBU) reported on June 30.
37 UKRAINE Country Report August 2020 www.intellinews.com
