Ukraine goods trade deficit enlarges to USD 0.9 bln in November
17 January 2022
Ukraine’s goods trade deficit enlarged to USD 932 mln
in November from USD 416 mln in October, the State Statistics Service announced
in a report on Jan. 14. The seasonally adjusted goods deficit increased to USD
833 mln (from a deficit of USD 295 mln in October) amid an 1.1% m/m increase of
adjusted exports and a 9.4% m/m jump in adjusted imports.
Goods exports increased 44% yoy in November to USD
6.80 bln (vs. a 36% yoy increase in October). The accelerated growth was mostly
driven by exports of crop products (68% yoy) and ferrous metals (90% yoy).
Goods imports increased 45% yoy to USD 7.73 bln in
November (vs. 32% yoy growth in October). The major contributors to the
accelerated growth included energy products (2.3x year-on-year) and chemicals
(up 48%).
In 11M21, the goods trade deficit amounted to USD 3.6
bln (vs. a deficit of USD 4.2 bln in 11M20); goods exports increased 38.2% yoy
and imports jumped 33.8% yoy.
Evgeniya Akhtyrko: In
November, the deficit of Ukraine’s trade in goods enlarged as the growth of
imports outpaced the growth of exports. The enlargement of the trade deficit in
the end of the year is typical for Ukraine, and the trade deficit in December
will be similar to the one observed in November.
Therefore, the goods trade deficit will land around
USD 4.5 bln in 2021 (vs. USD 5.1 bln in 2020).
