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Ukrainian Exports To Change in 2017

May 12, 2017
National Bank of Ukraine (NBU) forecasts the increase of exports of Ukrainian goods by 11.2 percent, for the first time since 2012 due to growing prices on the product markets.

As noted in the NBU  April Inflation  report, exports in ores will show the highest rise (by 41 percent) in the export structure. Food exports will also increase by 8.6 percent due to larger supplies of sugar and other food products to the new markets in Asia, which Ukrainian producers had entered in 2016, and due to exports of grains. Besides, it is expected that exports in machinebuilding industry will increase due to trade diversification of products earlier exported to Russia.

The National Bank also expects growth of foreign trade net surplus owing to 5.7 percent increase in exports of services in IT and transportation.

According to the State Statistics Service, Ukraine’s 2016 foreign trade balance has a surplus of about USD 337.3 million, which is 11 times less than the 2015 surplus of about USD 3.828 billion. At the same time, according to the National Bank’s data, the 2016 trade balance in products and services had a deficit of about USD 5.581 billion.


Tags: export