Page 28 - UKRRptSept23

5.0 External Sector & Trade 5.1 External sector overview
Ukraine's foreign trade deficit increased by 300% in six months. The State Statistics Service reported that the negative balance of Ukraine's foreign trade in goods for January-June 2023 increased from $2.58B to $11.04B compared to the same period last year. It is also noted that the export of goods from Ukraine for January-June compared to the same period in 2022 decreased by 14.3% to $19.41B, while imports increased by 20.7% to $30.45B. The State Statistics Service clarified that in June 2023, compared to May 2023, the seasonally adjusted volume of exports decreased by 2.8% to $3.14B, and imports decreased by 4.4% to $5.01B. The coefficient of export coverage of imports in the first half of the year was 0.64 (0.9 in January-June 2022). Foreign trade operations were conducted with partners from 224 countries.
5.2 Balance of payments
Ukraine’s trade turnover of goods between January and July 2023 was $57.5bn, an increase of 3% compared to 2022, Ukraine Business News reported on August 21.
Ukraine’s imports amounted to $35.7bn, with taxed imports recorded at $29bn. Chinese goods made up the majority at $5.6bn, followed by products from Poland at $3.8bn and Turkey at $2.8bn. Machines, equipment and transport were the largest imports ($10.6bn), followed by fuel and energy products ($6.4bn) and chemical industry products ($6.4bn).
28 UKRAINE Country Report September 2023 www.intellinews.com