Ukraine's trade deficit more than halves in 2020 – envoy.

Exports for the whole year amounted to US$49.32 billion / REUTERS

Exports for the whole year amounted to US$49.32 billion / REUTERS

Ukraine's trade deficit more than halved in 2020, from US$10.22 billion to US$4.9 billion.

This was announced by Ukraine's Trade Representative Taras Kachka on Facebook.

Read also Return of Agriculture Ministry, price hikes, and disappointing harvest: Year's results in agricultural sector

"In dollar terms, exports for the whole year amounted to US$49.32 billion, which is 1.70% less than in 2019. In a crisis year, this indicator is not bad at all. Especially positive is a reduction in trade deficit by more than half. Of a US$10.22 billion deficit, we still have US$4.9 billion," he said.

According to Kachka, dynamics in December 2020 were especially noticeable, which he associates with the growth of world prices of metal and ore.

"It is worth paying attention to the dynamics of December. US$4.88 billion in exports. Again, [there is] growth compared to the previous month by US$150 million. And [it is] US$760 million more than in December last year. The secret of the December figures is quite simple – the world's metal and ore prices are growing at a frantic pace. [Ferrous] exports in December amounted to US$715 million (it was US$572 million in November [2020] and US$522 million in December 2019)," he said.

Kachka also added that ore exports from Ukraine in 2020 amounted to US$4.42 billion, which was 23% up on 2019.

However, statistics of ferrous metallurgy (US$7.7 billion) and ferrous commodities (US$0.88 billion) decreased by 12% and 15%, respectively, compared to 2019, he added.

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Author: UNIAN

Unian

Read the top-news of politics in Ukraine and the world, the latest political news from the UNIAN news agency.

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