The deficit of foreign trade in goods doubled in the first half of the year

In the specified period, exports of goods from Ukraine decreased by 24%, imports – by 19.1%

The negative balance of Ukraine’s foreign trade in goods in the first half of this year doubled compared to the same period in 2021 – to $2.5 billion from $1.23 billion. The data of the State Statistics Service informs about it.

Exports of goods from Ukraine during the reporting period decreased by 24% compared to the first half of 2021 – to $22.7 billion, imports – by 19.1%, to $25.2 billion.

The State Statistics Service clarified that in June 2022, the seasonally adjusted volume of exports increased by 18.6%, to $3.6 billion, imports – by 27.6%, to $5 billion compared to May. The seasonally adjusted balance of foreign trade in June 2022 was negative and amounted to $1.4 billion, while in May 2022 it was also negative and amounted to $889.9 million.

The export-import coverage ratio for six months of 2022 was 0.90 (0.96 in January-June 2021).

Exports of ferrous metals over 6 months decreased by 47.5% compared to 6 months of 2021 – to $3.22 billion. Imports fell by 30.9% – to $392.9 million.

As GMK Center reported earlier, the deficit of Ukraine’s foreign trade in goods in January-May 2022 decreased by 9.3% compared to the same period in 2021 – from $958 million to $878.4 million. Export of goods from Ukraine for 5 months decreased by 20.4% compared to January-May of the previous year – to $19.59 billion, and import – by 19.9%, to $20.47 billion.

Also, the deficit of Ukraine’s foreign trade in goods in 2021 has decreased by 8.1% compared to 2020 – to $4.7 billion. Last year, exports of goods from Ukraine increased by 38.4% compared to 2020 – to $68.1 billion, and imports – by 34%, to $72.8 billion.