Foreign Trade Deficit Totals USD 1.4 bln In 2M07

Export growth grew 34.5% yoy to USD 6.6 bln in 2M07, according to the State Statistics Committee. Meanwhile, imports grew 35.7% yoy to USD 8.0 bln to bring foreign trade deficit to USD 1.38 bln.Alexander Viktorov: The main drivers of export growth were chemicals (+29.2% yoy), machine building (+58.5% yoy) and metals (+47.6% yoy). Oil and gas (+30.7% yoy) and machinery products (+41.9% yoy) were the largest import components. We estimate Ukraine’s foreign trade balance to be negative in 2007, at around USD 6.8 bln.