Page 39 - UKRRptApr24

5.0 External Sector & Trade 5.1 External sector overview
In February, Ukraine reduced the deficit in foreign trade in goods by $130M.
In February, Ukraine exported $3.4B worth of goods, which is equal to January's result and almost 2% more than in February last year.
Compared to January, the import of goods decreased by 2.3% to $4.96B; compared to February 2023, a decrease of 6% was recorded.
As a result, the deficit in foreign trade in goods decreased to $1.55B.
For comparison, in January, this figure was $1.68B; in 2023, it was an average of $2.28B per month. Grain exports in February reached a wartime record of 5.8 million tons - $950M in monetary equivalent. This is 8% more than January’s exports but 12% lower than in February last year. Thanks to the expansion of the sea corridor, in February, Ukraine exported 2.55 million tons of iron ore raw materials worth $260M, 13% less than in January but 130% more than the February 2023 figure.
5.2 Balance of payments
The deficit in trade in goods decreased to $1.7B in January (from $3.2B in
December 2023) due to the growth of exports and the reduction of imports,
39 UKRAINE Country Report April 2024 www.intellinews.com