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

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.