The deficit of foreign trade in goods increased by 4 times y/y in July

The negative balance of Ukraine’s foreign trade in goods in July 2022 increased by four times compared to July 2021 – from $440 million to $1.798 billion. This is evidenced by the State Customs Service’s data.

Exports of goods from Ukraine in July 2022 decreased by 47.9% compared to July 2021 – to $2.92 billion, imports – by 21.9%, to $4.72 billion.

In January-July 2022, the foreign trade deficit increased by 2.7 times compared to the same period in 2021, to $4.36 billion. Imports over this period fell by 19.2%, to $30.02 billion, and exports fell by 27.8%, to $25.65 billion.

The State Statistics Service specified that mineral products and metals exports fell the most in 7 months – by 49%, to $2.59 billion and $4.39 billion, respectively. The export of foodstuffs and agricultural products decreased only by 8%, to $11.53 billion.

As for imports, the supply of fuel and energy goods increased by 25%, to $7.64 billion, as well as other goods – by 66%, to $1.47 billion.

As GMK Center reported earlier, the shortage of foreign trade in goods in the first half of 2022 doubled compared to the same period in 2021 – from $1.23 billion to $2.5 billion. Exports of goods from Ukraine during six months decreased by 24% compared to the first half of 2021 – to $22.7 billion, imports – by 19.1%, to $25.2 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.