Ukraine increased trade with Russia more than the EU

Ukraine increased its trade turnover with Russia by 28.6%, and with the EU – 27.6%.

For 11 months of 2017 (January-November) Ukraine has increased the total commodity turnover with Russia by 28.6% to $9.36 billion the trade turnover with the countries of the European Union for the period grew by 27.6% to $29,28 bln.

This is evidenced by data of the National Bank of Ukraine (NBU).

So, in January-November 2017 Ukraine increased import of goods from Russia by 38.6% compared to the same period of 2016 – to $6.3 billion, exports grew by 11.9% to $3 billion.

The trade balance with Russia in the first 11 months of last year Ukraine was negative and amounted to $3.2 billion, which is 79% worse than the same period of 2016.

According to the NBU, during the same period, exports of goods from Ukraine to the EU increased by 32.7% to $12,8 billion, and imports – by 23.9%, to $16.5 billion, whereas the balance remained negative at $3.7 billion.

NBU indicates that the share of Russia in exports of goods from Ukraine decreased from 9.1% to 8.5%, while imports increased from 12.6% to 14.3%, while the share of exports to the EU increased from 31.9% to 35.3%, while imports from 36.9% to 37.5%.

In General, according to the NBU, exports of goods from Ukraine in January-November 2017 increased by 20.1% to $36,19 billion, import – by 21.8%, to $44, and the negative balance decreased by 30,2% – up to $7.8 billion.

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