Ukraine Records Trade Deficit for 17th Month

Ukraine's trade deficit grew to USD 2.728 million in September 2023 from USD 517 million in September of the previous year, the latest report showed.

It was the 17th month of negative reading as exports plunged by 35.4% yoy to USD 2.673 million on lower sales of products of vegetable origin (-56.2%), oils & fats of animal or vegetable origin (-37.7%), and base metals (-5.4%).

On the other hand, shipments increased for ready-made products (32.5%).

Meanwhile, imports rose by 16.1% to USD 5.401 million, pushed by higher purchases of machinery & mechanical appliances, electrical equipment & parts thereof (21.4%), transport (62.1%), and products of the chemical & related industries (31.3%).

Conversely, arrivals dropped for mineral products (-17.4%).

In January-September the trade gap expanded to USD 19.402 million from USD 6.026 million in the same period of 2022 due mainly to a fall in one of the country's key commodities, steel (-47.5%).