Ukraine’s foreign trade deficit increased almost 1.6 times in Q1

The negative balance of Ukraine’s foreign trade in goods in the first quarter of 2025 increased by 57.7% year-on-year to $8.515 billion from $5.399 billion. This was reported by the State Statistics Service (Ukrstat).

According to the State Statistics Service, exports of goods from Ukraine in January-March decreased by 6.9% y/y – to $9.953 billion. At the same time, imports increased by 14.7% compared to January-March 2024, to $18.468 billion.

The export-import coverage ratio for the first three months of 2025 amounted to 0.54 (0.66 in January-March 2024).

Foreign trade operations were conducted with partners from 211 countries.

According to the updated data of the State Statistics Service, in March this year, compared to the previous month, seasonally adjusted exports increased by 8.6% to $3.574 billion, and imports by 6.9% to $6.723 billion. The seasonally adjusted foreign trade balance in the period under review was negative and amounted to $3.149 billion.

Ukraine’s trade turnover in January-April amounted to $38.1 billion. During the period, the country imported goods worth $24.8 billion and exported goods worth $13.3 billion. Taxed imports amounted to $18.8 billion, which is 76% of the total imported goods.

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.