Ukraine’s foreign trade deficit grew by 76.6% y/y in January-February

Exports decreased by 13% year-on-year in the period under review

The negative balance of Ukraine’s foreign trade in goods in January-February 2025 increased by 76.6% year-on-year – to $5.014 billion. This is stated in the report of the State Statistics Service.

According to the State Statistics Service, exports of goods from the country in the period decreased by 13% compared to January-February 2024 – to $6.288 billion, while imports increased by 12.3% year-on-year – to $11.303 billion.

The export-import coverage ratio in January-February this year was 0.56 (in January-February 2024 – 0.72).

The State Statistics Service reported that foreign trade operations were carried out with partners from 202 countries.

As a reminder, in January-March 2025, Ukraine exported goods worth almost $9.9 billion. In March, exports from the country reached more than $3.6 billion, which is 4.5% more than in March last year and 18% more than in February this year. The European Union remains Ukraine’s key trading partner.

Despite the decline in exports in the first two months of the year, Ukraine managed to achieve positive dynamics in March, thanks to increased supplies of agricultural products, iron ore and steel products.

As GMK Center reported earlier, in 2024, Ukraine’s trade turnover increased by 13% compared to 2023, from $99.4 billion to $112.3 billion. During the year, Ukraine imported $70.7 billion worth of goods and exported – $41.6 billion.