Ukraine's merchandise trade deficit reaches $18bn in 2008
12 February 2009
Ukraine’s State Statistics Committee reported yesterday that the country’s merchandise trade deficit hit USD 18.5 bln in 2008, wider than the USD 11.3 bln gap in 2007. Imports amounted to USD 85.5 bln, up 41% yoy, while exports came to USD 67.0 mln, up 36% yoy. Andrii Parkhomenko: We expect that in 2009, the trade deficit will shrink markedly due to weak internal demand, squeezed credit, and the weak hryvnya. We forecast the merchandise trade deficit at USD 7.6 bln, and current account deficit at USD 1.3 bln (1.1% of GDP) in 2009.
