The deficit of Ukraine’s foreign trade in goods in February 2021 fell by 47.5%, to $0.32 billion, while the deficit of foreign trade in January-February 2021 slightly grew – by 5.9%, to $0.6 billion.
According to the State Customs Service, imports in the first two months of this year showed an increase over the same period last year by 4.5% and amounted to $9.09 billion, and exports – by 4.4%, to $8.49 billion.
At the same time, in February, imports rose to $4.87 billion, which is 6.5% higher than the same period last year and 15.4% higher than in January.
As for exports, last month it also showed an increase of 14.8% compared to February 2020 and 15.8% compared to January, reaching $4.55 billion.
In general, the trade turnover in January-February this year totaled $17.57 billion, which is 4.44% higher compared to the same period last year.
As Deputy Minister of Development of Economy, Trade and Agriculture Taras Kachka said, in February Ukraine increased the export of confectionery products by $50 million, or 15% compared to February 2020.
The largest export markets [for confectionery products] were Romania, Poland, Belarus and Azerbaijan. Meal (group 2) grew by 25.7% and amounted to $169 million. France and China began to buy more.
Metallurgy began to feel better. Exports of ferrous metals (group 72) in February amounted to $764 million (a rise of 12%).
Taras Kachka, Deputy Minister of Development of Economy, Trade and Agriculture of Ukraine
Kachka also pointed to an increase in the export of industrial goods to $398 million in February, which is 9.6% more than the same period last year and 21.6% more than in January. The trade representative said that $294 million of export of these goods falls on the EU (Hungary, Germany, Poland).
Exports of metal products last month showed an increase of 22% versus February 2020, to $77.2 million. The largest supply markets for them were Poland, Romania, Germany, the trade representative said. He also noted an increase in the export of sunflower oil in February by 12% versus February last year and by 14% versus January, to $587 million.
As indicated by the State Customs Service, the largest trading partners in February were China (negative balance of $1.8 billion), Russia ($1.1 billion), Germany ($1.3 billion).
At the same time, the trade representative said that exports to the EU in February increased compared to last year by almost 28%, to $1.97 billion, and to Asia – by 17.4%, reaching $1.48 billion. At the same time, exports to the CIS countries decreased in February 12.3% compared to February 2020, to $461 million.
We should note the revival with Britain: in the first two months of this year we exported products worth $145.2 million, which is 35% more compared to January-February 2020.
Taras Kachka, Deputy Minister of Development of Economy, Trade and Agriculture of Ukraine
According to customs statistics, in February this year, trade between Ukraine and the U.K. amounted to $503 million: exports were $209.5 million, and imports were $294 million.
Source: UkraineOpen4Business
