Page 45 - UKRRptNov23

reported on November 6.
Over the first nine months of the year, the export of goods saw a significant decrease of 35.9%, while imports recorded a contrasting trend with a 16.7% increase. In September, when compared to August figures, both exports and imports of goods exhibited declines of 1.9% and 3.1% respectively.
Specifically, the export volume of goods in September amounted to $2.5bn. This decline in exports was observed across nearly all major product groups and regions. However, problems in exporting grain caused by the Russian blockade of Ukraine’s sea ports have been a major contributing factor; as bne IntelliNews reported, despite farmers expecting a larger harvest this year, Ukraine grain exports are down by a third this year. Grain is Ukraine’s main source of foreign exchange earnings.
The most substantial decreases in nominal terms were witnessed in exports to EU countries, falling by 35.3%, and Asia, which experienced a decline of 50.3%. Exports to African countries fell by 43%, America by 40.9% and CIS countries by 19.4%.
On the import front, September saw import volumes of $5.4bn. Imports from EU countries grew by 17.5%, while Asia saw a 12.3% uptick. Imports from America also recorded an increase of $116mn. In contrast, imports from the CIS countries decreased by 15.7%.
Ukrainian import volumes were twice as large as exports in the first nine months of this year putting more pressure on the government resources and undermining the hryvnia, reports the State Customs Service.
Imports into Ukraine reached $46.6bn between January and September, while exports amounted to $27.1bn, leaving a $19.5bn trade deficit. The overall trade turnover for Ukraine in the first nine months was $73.7bn.
45 UKRAINE Country Report November 2023 www.intellinews.com