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Deficit of Ukraine’s balance of foreign trade reaches $2.63 billion in 2017
14:10, 15 February 2018
Deficit of Ukraine’s balance of foreign trade reaches $2.63 billion in 2017

In Q4 2017 the deficit was around $1.42 billion, which exceeds the last year’s figure by over 22 times.

14:10, 15 February 2018

westjavainc.org

The deficit of Ukraine’s balance of foreign trade in 2017 amounted to $2.63 billion. On the same day last year, the balance stood at a surplus of $0.54 billion, the State Statistics Service reported on Wednesday, Interfax-Ukraine reports.

Taking into account the data released earlier, in the last quarter of 2017 the deficit was around $1.42 billion, which exceeds the last year’s figure by over 22 times.

Related: Trade between Ukraine and Austria grew by 17% in 2017 - Poroshenko

The State Statistics Service said that in 2017 exports of goods and services from Ukraine grew by 16%, to $52.33 billion, whereas imports increased by 23.3% and reached $54.96 billion.

Exports to the countries of the Commonwealth of Independent States rose by 9.2%, to reach $10.65 billion, whereas imports from those nations soared by 31.2% and reached $12.12 billion.

Related: Trade between Ukraine and Canada grows by 60% due to FTA

At the same time, exports to member states of the European Union increased by 26.7%, to $20.05 billion and imports grew by 19.1%, to $23.3 billion.

The deficit of Ukraine’s balance of foreign trade in goods rose 2.2-fold in 2017 and reached $6.33 billion, while the balance of foreign trade in services exhibited an increased surplus of 12%, to $5.09 billion.

Related: Ukraine doubles its deficit in foreign trade of goods in Jan-Nov 2017

The surplus of Ukraine’s balance of foreign trade in 2016 stood at $0.34 billion, which is around 91% less than in 2015.

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