Ukraine's trade deficit more than triples to $22.3 bln in 10M

MOSCOW. Nov 13 (Interfax) - Ukraine's imports grew 18.2% or $8.03 billion year-on-year in January-October 2023 to $52.17 billion while exports fell 19.1% or $7.03 billion to $29.83 billion, Ukrainian media reported, quoting State Customs Service data.

As a result, the trade deficit widened 3.1-fold to $22.34 billion.

Imports from EU countries increased 23.5% to $26.71 billion, while exports decreased 15.8% to $19.45 billion. Imports from CIS countries fell 76.2% to $1.03 billion while exports fell by 36.4% to $1.33 billion, meaning there was a surplus in trade with these countries, whereas previously there had been a deficit.

Imports from other countries in January-October increased 34% to $24.42 billion, while exports decreased 22.4% to $9.04 billion.

"Taxable imports amounted to $43.4 billion, or 83% of the total volume of imported goods," the State Customs Service said.

Most goods were imported from China - $8.4 billion, compared with $6.6 billion in 10M 2022, Poland - $5.5 billion compared with $4.4 billion and Germany - $4.1 billion versus $3. 7 billion. Most exports went to Poland - $4.1 billion compared with $5.7 billion, Romania - $3.3 billion against $3 billion and Turkey - $2 billion compared with $2.4 billion.

Machinery, equipment and transport accounted for 65% of imports at $16 billion, an increase of 30%, chemical products - $9.3 billion, up 17%, and fuel and energy $8.7 billion, a decrease of 18%.

The top three exports were food - $17.7 billion, a decrease of 4%, metals and their products - $3.3 billion, down 19%, and machinery, equipment and transport - $2.5 billion, down 30%.