Ukraine’s exports fell by 30% and imports by 4%.

Ukraine’s export of goods and services decreased by 29.9% in 2022, while imports decreased by only 3.9%, according to the NBU Balance of Payments Review. The export of goods decreased by 35.1% last year and amounted to $40.9B. The main factor was the decrease in the export of ferrous and non-ferrous metals by 62.6%. Also, food product exports decreased by 15.5%, mainly due to a reduction in grain exports, which dropped by 26.2%. However, the export of oil and oilseeds increased by 2.5%. The import of goods for the year decreased by 20.3%, its volume amounting to $55.6B. The deficit in trade in services amounted to $9.1B. The export of services decreased by 12.1%, while their import increased by 1.8 times. It is noted that the negative balance of trade in goods and services has grown significantly, in part due to significant spending by Ukrainian citizens abroad. Excluding reinvested income and grants from international partners, the current account deficit of the balance of payments amounted to $5.3B.