Ukraine has de facto returned to multi-vector: exports have increased to both Russia and Europe
In January-October 2017, Ukraine increased exports of goods to Russia by 20,9% compared to the same period in 2016 - up to $3,263 billion, reports a PolitNavigator correspondent.
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The State Statistics Service reported this today.
According to its data, imports of goods during the reporting period increased by 36,5% - to $5,521 billion, which leads to a total increase in bilateral trade in goods of 26,5%, amounting to $8,78 billion.
The balance of trade with the Russian Federation at the end of 10 months of this year for Ukraine turned out to be negative and amounted to $2,258 billion, which is 1,9 times higher than the figure for the same period last year (negative UAH 1,185 billion).
According to the statistics agency, at the end of 10 months, exports of goods from Ukraine to the EU increased by 30,3%, to UAH 14,161 billion, imports - by 22,7%, to UAH 16,78 billion. The total foreign trade turnover for January-October 2017 increased by 26,1% and amounted to $30,94 billion. The negative balance of trade in goods decreased by 6% to $2,619 billion, while in January-October 2016 this figure was $2,798 billion.
Russia's share in the export of goods from Ukraine in January-October of this year was 9,3%, in imports - 13,9%, while the EU - 40,2% and 42,2%, respectively.
As reported, in general, based on the results of January-October 2017, the negative balance of Ukraine’s foreign trade in goods in January-October 2017 increased by almost 2,2 times compared to the same period in 2016 and amounted to $4,573 billion.