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5.0 External Sector & Trade 5.1 External sector overview
Ukraine's trade has fallen by 27% since the beginning of the year. According to the results of the first half of 2022, Ukraine's foreign trade amounted to $48B, which is 27%, or $13B, less than in the first half of 2021. So, in January-June of this year, almost 18 million tons of goods worth $25.3B were imported into Ukraine. For comparison, the import of goods from the same period last year amounted to $31.1B. At the same time, since the beginning of 2022, exports from Ukraine amounted to 50.2 million tons of goods for $22.7B. In the first half of 2021, the export of goods amounted to $29.1B. According to the results of the first half of 2022, China remains the largest trading partner of Ukraine, with imports of $3.5B. Germany is second with $2.2B in trade, and Poland with $2.1B. Ukraine exported the most goods to China for $4.3B, Poland for $2.3B, and Turkey for $1.8B.
The foreign trade deficit has decreased by 9.3%. The negative balance of Ukraine's foreign trade for the first five months of 2022 decreased by 9.3% to $878.4M compared to last year. This is evidenced by data from the State Statistics Service. Export of goods from Ukraine for the first five months of 2022 compared to January-May 2021 decreased by 20.4% to $19.6B, and imports - by 19.9% to $20.5B. The export-import coverage ratio in January-May 2022 was 0.96 (in January-May 2021, it was also 0.96). The
34 UKRAINE Country Report XXXX 2018 www.intellinews.com