Page 31 - UKRRptSept22

5.0 External Sector & Trade 5.1 External sector overview
The foreign trade deficit for the first half of the year amounts to $4.3B.
The foreign trade deficit in Ukraine for January-July this year amounted to $4.3B, which is 150% more than a year earlier, announced the State Customs Service. In the seven months of 2022 thus far, the turnover of goods amounted to $55.7B. In January-July, goods worth $30B were imported into Ukraine, and $25.7B was exported from Ukraine. The countries with the most imports to Ukraine were China, with $4.2B, Poland, with $2.7B, and Germany, with $2.6B. Ukraine exported the most to Poland, with $3.8B, Romania, $1.7B, and China, with $1.6B. The following categories of goods were most imported to Ukraine: machines, equipment, transportation, fuel, energy products, and chemicals. On the other hand, the three most exported goods from Ukraine were: food products, metals and metal products, machines, equipment, and transportation.
5.2 Balance of payments
Ukraine's exports fell by 24% in the first half of this year. The export of goods from Ukraine amounted to $22.7bn since January, the equivalent of 76% for the same period last year, the State Statistics Service reported on Aug. 15.
For the first half of 2022, exports of goods from Ukraine amounted to $22.7bn, or 76% of the figure last year. This is stated in the data of the State Statistics Service .
At the same time, imports decreased by 19.1% to $25.2bn year on year. The negative trade balance amounted to $2.5bn compared to $1.2bn in the first half of 2021.
The export-import coverage ratio was 0.9 compared to 0.96 in the first half of last year. In total, Ukraine traded with 221 countries of the world.
The precipitous half-year drop in international trade since the start of the all-out war is partly mitigated by large increases in January and February last year, when the pandemic stifled international trade.
During this time, the largest share in Ukrainian exports was made up of vegetable products - 24.1% of total exports, base metals (formerly ferrous) - 17.6%, oils - 12.1% and mineral products - 12.3%.
As for imports, more than a quarter of all imports are fuel - 25.1%. Also, a lot of cars and electrical equipment were imported - 15.3%.
In June compared to May, seasonally adjusted volumes of exports increased by 18.6%, and imports - by 27.6%. The seasonally adjusted balance of foreign trade in June was negative and amounted to $1.4bn. In May, the balance was also negative and amounted to $889.9mn.
31 UKRAINE Country Report September 2022 www.intellinews.com