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External trade deficit in goods hits USD 14.3 bln in 9M08

External trade deficit in goods hits USD 14.3 bln in 9M08

12 November 2008

According to the State Statistics Committee, the negative foreign trade balance in goods widened to USD 14.3 bln over 9M08 (from USD 6.7 bln over 9M07). The export of goods amounted to USD 53.6 bln (+50.1% yoy) while the import of goods came to USD 67.8 bln (+60.2% yoy). Andrii Parkhomenko: The 9M data did not yet capture the consequences of the fall in metallurgy output, and we believe that starting from October, exports of metallurgy products will decrease significantly and, at the same time, imports of machinery and consumer goods will start to abate.

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