In Ukraine, foreign goods trade deficit in January-April fell to almost zero

The negative balance of foreign trade for 4 months decreased 42 times, to $29.6 million

The deficit of Ukraine’s foreign trade in goods in January-April 2022 decreased almost 42 times compared to the same period in 2021 – from $1.24 billion to $29.6 million, according to the State Statistics Service.

Exports of goods from Ukraine for 4 months decreased by 12.3% compared to January-April of the previous year, to $16.71 billion, and imports – by 17.5%, to $16.74 billion.

At the same time, in April, compared to March, the seasonally adjusted volume of exports increased by 7.2%, to $ 2.73 billion, and imports – by 65.1%, to $ 2.78 billion.

The seasonally adjusted foreign trade balance in April was negative and amounted to $0.05 billion, exceeding the figure in April 2021, when the seasonally adjusted balance was also negative at $0.36 billion. In March 2022 it was positive – $0.86 billion.

The coefficient of export coverage of imports in January-April 2022 was 1.00, while for the same period last year – 0.94.

During this period, foreign trade operations were conducted with partners from 215 countries.

Exports of ferrous metals for four months decreased by 29.7% to January-April 2021 – to $2.62 billion. Imports during this period lost 12.7% – $283 million.

GMK Center reported that in January-April 2022, Ukraine reduced exports of iron ore by 32.8% compared to the same period in 2021, to $1.58 billion. Exports of pig iron in 4 months fell by 50.4%, to $220,2 million, and semi-finished products – by 44.9%, to $ 707.88 million.

The sharp decline in exports of Ukrainian mining and metals products caused by the blockade of seaports by Russian Federation. The companies are developing new logistics chains for shipment of export products by rail.