Deficit of trade in goods decreased to $111 million for the first half of September 2022

The negative balance of Ukraine’s foreign trade for the first half of September 2022 decreased to $111 million, while in August the index was $1.05 billion. This was announced by the Deputy Minister of Economy Taras Kachka on his Facebook page.

As of the first half of September 2022, Ukraine exported products for $1.18 billion, and imported products for $1.93 billion.

Among the export leaders are cargoes of the agro-industrial complex (more than $717 million). Also, electricity was sold abroad for a record amount – $131 million.

2 million tons of cargo worth $662 million were shipped by sea. Exports by road amounted to 585,000 tons worth $651 million. The main export direction remains the European Union – $1.24 billion out of $1.18 billion of total exports.

“That is why we need economic integration into the internal market of the EU, as Ursula von der Leyen mentioned. But these indexes are only for half a month. The main news is a minimum deficit of $111 million. Therefore, trade is becoming balanced,” Taras Kachka summarized.

As Center reported earlier, the negative balance of Ukraine’s foreign trade in August 2022 decreased by 32.9% compared to July, to $1.053 billion. Exports of goods from Ukraine over the past month increased by 13.9% compared to July, to $3.363 billion, while imports decreased by 2.3%, to $4.416 billion.

Also, Ukrainian steelmakers in August 2022 reduced iron ore exports by 7.8% compared to the previous month – to 1.44 million tons. In monetary terms, iron ore exports for this period decreased by 13.2% m/m – to $172.2 million.

In January-August 2022, the export of steel products decreased by 64% compared to the same period in 2021 – to 4.77 million tons. In monetary terms, exports during this period fell by 58.3% y/y – to $3.72 billion.