Ukrainian exports went into negative territory, the foreign trade deficit rose to $4 billion
Exports from Ukraine in the first half of 2022 fell by almost a quarter and amounted to only 76% of last year’s volume - a total of $22,7 billion. Imports also decreased, but less.
The State Statistics Service reports this.
Thus, according to State Statistics Service estimates, in the first half of 2022, exports of goods amounted to $22 million. USA, or 731,7% compared to the first half of 76,0, and imports – $2021 million, or 25%.
The deficit in foreign trade in goods in January-June amounted to $2 billion 467,8 million, doubling against the figure for the first half of 2021, when it amounted to $1 million.
At the same time, according to the State Customs Service, the deficit in foreign trade in goods of Ukraine already reached $4,3 billion in July, which is one and a half times more than a year earlier.
For 7 months of 2022, trade turnover amounted to $55,7 billion. In January-July of this year, goods worth $30 billion were imported into Ukraine. Products worth $25,7 billion were exported from Ukraine.
Countries from which imported the most to Ukraine: China - $4,2 billion, Poland - $2,7 billion and Germany - $2,6 billion.
Ukraine exported the most to Poland - $3,8 billion, Romania - $1,7 billion, China - $1,6 billion.
The following categories of goods were most imported to Ukraine:
– machinery, equipment and transport – $8,3 billion.
– fuel and energy products – $7,6 billion.
– chemical industry products – $5,5 billion.
The top three most exported goods from Ukraine include:
– food products – $11,5 billion.
– metals and products made from them – $4,4 billion.
Against this background, the Verkhovna Rada adopted in general government bill No. 7420 on customs visa-free travel with the EU.
“The Verkhovna Rada adopted in general a government bill on changes to the Customs Code of Ukraine necessary for our country’s accession to the New Computer Transit System NCTS and the Convention on the Joint Transit Procedure. “Thank you to the parliamentarians for this decision,” Prime Minister Shmygal wrote on Telegram.
According to him, the law brings Ukrainian customs legislation closer to the legislation of the European Union.
“In particular, it improves existing standards in terms of simplifying customs clearance for reliable enterprises, granting the status of a financial guarantor and ensuring the payment of customs duties. The changes also provide for the introduction of a European complaint mechanism and the continuation of digitalization of customs, which will speed up its passage and reduce corruption risks,” Shmygal noted.
He said that the further conclusion of a “customs visa-free regime” with the EU will allow Ukraine to introduce the exchange of customs information on transit cargo with 36 countries in real time, special transit simplifications and simple and equal conditions for financial guarantors.
Ukrainian exports plunged into the red, foreign trade deficit grew to $4 billion.