: :inin Kyiv (EET)

Ukraine`s economy ministry reports 4.6% decline in exports in 2016

The Ukrainian Economic Development and Trade Ministry says the country`s exports in 2016 fell by 4.6%, or US$1.8 billion, from 2015, which coincides with the State Statistics Service`s estimates, according to the ministry`s press service.

”Negative trends [in exports] are due to the unstable political and economic situation in certain regions of Luhansk and Donetsk regions as a result of ongoing Russian military aggression, as well as limited access to credit resources, systemic problems in the development of foreign economic activity (VAT refund, as well as currency, customs and tax regulation), which were supplemented by the Russian Federation`s embargo on Ukrainian foods and restrictions on transit through its territory,” the report said.

At the same time, exports of agricultural and food products increased by 5%, or $721.2 million, and those of light industry grew by 7%, or $63.4 million.

Metallurgy posted a decline in exports of commodities by 12%, or $1.2 billion, while chemical exports fell by 22.7%, or $577.1 million, those of engineering decreased by 9.2%, or $439.3 million.

At the same time, there was an increase in exports of goods to the EU countries in most industries, except for mineral and chemical production. In 2016, shipments of various industrial goods to the EU increased most (by $149.7 million), while exports of engineering products (by $125 million), timber and paper (by $103.8 million), products of the light industry (by $76.4 million), and farm produce and foods (by $73.8 million).

The share of Russia in Ukraine`s exports was 9.9%, having decreased by 2.8 percentage points against 2015.

Earlier, goods exports from Ukraine in 2016 dropped by 4.6%, to $36.363 billion.

The foreign trade deficit in Ukraine in 2016 was estimated at $2.886 billion against a $610.7 million surplus recorded in 2015.

Goods exports from Ukraine in January 2017 grew by 48.1% year-over-year, to $3.026 billion.

The deficit of foreign trade in goods in Ukraine in 2016 was $2.886 billion against a $610.7 million surplus in 2015.

Exports of goods from Ukraine in January 2017 from January 2016 increased by 48.1%, to $3.026 billion.


Submit a Comment

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

Share This

Share this post with your friends!