Over the year, Ukraine exports of goods declined by 43% and imports by 28%.

Tuesday, January 3, 2023
Over the year, Ukraine exports of goods declined by 43% and imports by 28%.

According to the National Bank of Ukraine, the surplus from the consolidated balance of payments of Ukraine amounted to $2.4B in November 2022. At the same time, the export and import of goods for the year decreased by 43% and 27.7%, respectively. The main factor in the decrease in export volumes to $3.6B was the 75.4% decrease in exports of ferrous and non-ferrous metals. In November 2022, a deficit of $1.1B in service trade was recorded. The export of services decreased by 24.5%, and their import increased by 190%. The NBU explained this by the growth of refugees, whose expenses increased 390% to $2B. The National Bank estimated the net inflow of foreign direct investment at $143M, while in November of last year, this figure was $603M. As of November 1, 2022, the volume of international reserves amounted to $28B, which is sufficient to provide import financing for 3.5 months.

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