In January, Ukraine increased its exports by 12% and reduced imports of goods.

The export of goods in January increased by 12.3% compared to the corresponding period last year, while imports decreased by 1.1%, the National Bank reports.

Ukraine supplied $3.3B worth of goods to foreign markets in January. The most significant increases were seen in the export of mineral products, by 110% and food products by 6.2%. Among food products, the export of oils and fats (+13.5%) and food industry products (+40.8%) increased the most, while the export of cereals (- 4%) and oilseeds (-4.9%) decreased.

At the same time, the import of goods amounted to $5.1B. Reducing energy imports (- 60.6%) completely neutralized the growth of non-energy imports (+22.8%). In January, the import of goods from Asian countries increased the most ($122M, +7.3%). Imports from the US ($74M, +26.7%) and Africa ($21M, +60%) also increased. As well, imports decreased from CIS countries ($39B, -38.2%) and EU countries ($24M, -1.1%).