Ukraine recorded a trade deficit of 896.60 USD Million in November of 2020. Balance of Trade in Ukraine averaged -545.85 USD Million from 2001 until 2020, reaching an all time high of 688 USD Million in April of 2004 and a record low of -2364.90 USD Million in April of 2008. source: State Statistics Service of Ukraine
Balance of Trade in Ukraine is expected to be -500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Ukraine to stand at -970.00 in 12 months time. In the long-term, the Ukraine Balance of Trade is projected to trend around -830.00 USD Million in 2020, according to our econometric models.
Ukraine Balance of Trade
Ukraine exports mainly steel, coal, fuel and petroleum products, chemicals, machinery and transport equipment and grains like barley, corm and wheat. More than 60% of the exports goes to other former Soviet Republics countries with Russia, Kazakhstan and Belarus being the most important. Others include Turkey and China. Ukraine imports mostly oil and natural gas, machinery and equipment, chemicals. Its main import partners are former Soviet Republics countries (Russia and Belarus are the biggest). Germany, China, and Poland have been also gaining importance in recent years.