Ukraine's trade deficit widens by 220% in 9M

MOSCOW. Oct 16 (Interfax) - Ukraine's foreign trade deficit grew by 220% year-on-year to $19.5 billion in the first nine months of 2023, as imports rose 18.9% to $46.6 billion while exports fell 18.1% to $27.1 billion, Ukrainian media reported, citing the State Customs Service.

Imports subject to tax totalled $38.3 billion, or 82% of all imports. The tax burden per kilogram of taxed imports increased by 47% year-on-year to $0.48 per kg in the nine months, the Customs Service said.

The top three countries of origin for imports were China with $7.4 billion (up from $5.8 billion a year earlier), Poland with $4.9 billion ($3.8 billion) and Turkey with $3.7 billion. Last year, Germany was among the top three with $3.3 billion.

Ukraine's largest export markets in the nine months were Poland with $3.7 billion, Romania with $3 billion and Turkey with $1.9 billion, compared to, respectively, $5.1 billion, $2.6 billion and $2.2 billion a year earlier.

Ukraine imported $14.1 billion worth of machinery, equipment and vehicles, $8.4 billion worth of chemical products and $7.9 billion fuel and energy products, the Customs Service said. These three groups of goods accounted for 65% of total visible imports.

The country exported $16.1 billion worth of food goods, $3 billion worth of metals and metal products, and $2.3 billion worth of machinery, equipment and vehicles.