Ukraine reports 5.5 billion U.S. dollar trade deficit
Post Date: 13 Aug 2011 Viewed: 570
Ukraine recorded a trade deficit of 5.5 billion U.S. dollars in the first half of 2011 on increased imports, the government said Friday.
Figures released by the state statistics committee showed that from January to June, the negative trade balance increased 2.3 times compared with the same period in previous year index of 2.3 billion dollars.
The east European economy exported 32.9 billion U.S. dollars, about 42 percent more than in first half of 2010. More than 60 percent of exports went to post Soviet countries, Turkey and Italy. Ukraine exports mainly steel, coal, chemicals and grain.
Meanwhile, imports rose 50.8 percent to 38.3 billion dollars. Ukraine purchased mostly oil and natural gas in Russia and Belarus. They are still remaining the major trade partners for Ukraine.
Analysts expect that in the second half of 2011 Ukraine's trade deficit will decrease due to increased grain exports.