External merchandise trade deficit totals 11.2% of GDP in 1H08

Ukraine’s external merchandise trade deficit totaled USD 9.9 bln in (11.2% of GDP) 1H08, down from 12.6% of GDP in 5M08, the State Statistics Committee reported yesterday. In January-June exports of goods grew 40.7% yoy to USD 32.5 bln, while imports soared 1.6x yoy to USD 42.4 bln. Meanwhile, the surplus in Ukraine’s external trade of services totalled USD 2.7 bln in 1H08. In January-June exports of services rose 47% YTD to USD 5.7 mln, while imports were up 49.2% YTD to USD 3.0 bln.