Page 32 - UKRRptSept22

In March of this year, Ukrainian exports fell by 57.9% compared to February to $2.7bn, but in the first quarter, volumes increased by 2.9% y/y.
The foreign trade deficit for the first half of the year amounts to $4.3bn.
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.
Ukraine increased its exports to $3.2bn in June. According to Prime Minister Denys Shmyhal, "In March and April, the export of Ukrainian goods decreased by 50% compared to the pre-war totals of $2.5B per month. However, three months of constant work by the government team and businesses have made it possible to increase exports by 20%, to $3.2B. According to the prime minister, the stability of the Ukrainian economy in war conditions will also be strengthened by the resumption of grain exports. According to recent data, farmers had collected almost 12 million tons of grains at the end of July. Moreover, it is planned to harvest up to 20 million tons of wheat alone, 500% more than domestic needs. "That's why we need to help farmers preserve and sell the new harvest," Shmyhal stressed.
In July, the EU increased imports of Russian diesel fuel by 22%. In July, EU countries increased the import of diesel fuel from the Russian Federation by 22% compared to the same period last year, reported FT. The increase in import volumes is taking place against the background of the coming complete embargo on sea supplies of oil from the Russian Federation. About 15% of the total diesel fuel consumption in the EU is imported from Russia. According to economists, the main problem is that American refiners, focusing on gasoline production, will be interested in a high markup in Europe for diesel fuel. According to S&P Global Commodity Insights, the price difference between Brent crude and diesel is $35 per barrel compared to $20 per barrel for gasoline.
32 UKRAINE Country Report September 2022 www.intellinews.com