Ukraine goods trade improves to USD 909 mln surplus in 5M15
16 July 2015
Ukraine’s 5M15 trade balance on goods improved to a USD 909 mln surplus compared to a USD 344 mln surplus in the same year-ago period, according to an UkrStat report on July 15. Exports declined 35.9% yoy while imports fell 38.8% yoy. Exports have been decreasing owing to slumping vehicles (-73.2% yoy), mineral products (-57.7% yoy), machinery (-39.7% yoy), metals (-39.0% yoy), chemicals (-33.9% yoy) and grains (-13.4% yoy).
Imports have slid on the back of declining demand for vehicles (-55.2% yoy), food (-47.7% yoy), metals (-47.3% yoy), machinery (-39.5% yoy), chemicals (-30.2% yoy), in addition to a decreasing energy bill (-35.1% yoy). Non-energy imports fell 40.3% yoy in January-May. For 5M15, exports to CIS countries fell 54.6% yoy and to the EU by 35.9% yoy.
Alexander Paraschiy: The general trend on foreign trade remains unchanged. Both exports and imports are shrinking. However, imports have been shrinking somewhat faster on the back of hryvnia weakening and a lower energy bill, which we expect will continue in 2H15. Thus, we are keeping our trade balance forecast at a USD 1.9 bln surplus for 2015 (according to UkrStat methodology).
