Trade deficit in Ukraine decreased – Kachka

Reducing the trade deficit by more than half is positive, especially in a year of crisis. Exports also increased in Ukraine.

Ukraine’s trade deficit in 2020 compared to 2019 has been cut by more than half. In a year of crisis, this indicator is not bad, wrote Taras Kachka, Ukraine’s Deputy Minister of Economic Development, Trade and Agriculture, on his Facebook page.

“We usually estimate exports in US dollars. And in dollars, exports for the whole year amounted to $ 49,320 million, 1.70% less than in 2019. In a year of crisis, this indicator is not a bad thing. The drop in trade is especially positive. the deficit has more than doubled, “Kachka said.

At the same time, he described the reduction in the trade deficit as more than twice positive: “From $ 10.22 billion minus 2019, there were 4.9 billion left.”

Kachka drew attention to the growth of exports. In December, exports increased $ 150 million compared to the previous month. And 760 million more compared to the same period last year.

“The secret of the December figures is quite simple: world metal and mineral prices are growing at a frantic rate. Group 72 exports in December amounted to 715 million dollars (in November they were 572 million and in December of 2019 – 522 million) “, – highlighted the Vice Minister of Economic Development, Trade and Agriculture.

He also noted that due to a decrease in the harvest, physical exports of grain were lower than last year, but this decrease in physical exports was offset by an increase in prices.

“Grains dominated by corn, wheat and barley brought us $ 9.42 billion in 2020. This is 2.29 percent less than in 2019,” added Taras Kachka.

The day before, it was reported that Ukraine reduced exports by only 1.7% during the crisis.

Recall that the reason for the drop in exports from Ukraine to the EU was mentioned.

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