Deficit of foreign trade balance of Ukraine in 2018 has doubled

According to the state statistics service, Ukraine in 2018 increased compared to the previous year as exports and imports of goods and services. However, the volume of imports grew considerably more important than exports, which increased foreign trade deficit and have a negative effect on the hryvnia exchange rate.

the trade Deficit increased from 2501,1 $ million in 2017 to 5826,1 $ million in 2018 At a negative balance when buying/selling goods made 9801,1 million $, whereas in the services balance was positive and amounted to 6048,6 $million.

compared To the previous year, Ukraine in 2018 increased exports of goods and services by 8.6% to 57118,4 $ million, import – by 14.3% to 62944,5 $million.

According to preliminary information of the NBU, balance of payments and 2018 for the fourth consecutive year reduced surplus, this time in the amount of 2.9 billion $. This is due to the receipt of financial assistance from international partners, as well as attraction of foreign loans and a large inflow of funds in the financial account.

According to the published by the national Bank forecast of the world prices for positions that are key in domestic exports, the world prices for steel will remain at the current level, the price of iron ore due to the increase in sentences will gradually decrease, while grain prices will rise as growth in consumption.