Due to the coronavirus, Ukraine is reducing its foreign trade

According to the statistics of the State Customs Service for the first half of 2020, foreign trade amounted to $ 55.4 billion – this figure is 10% less than last year ($ 61.7 billion). In the last month alone, the volume of trade decreased by 1%, which indicates an acceleration of the decline.

In six months, exports of goods decreased by 7% ($ 26.6 billion), imports decreased by 13% ($ 28.8 billion). Thus, the difference between them is $ 2.2 billion (this is a negative balance).
Also, exports of metals decreased by 19% ($ 5.2 billion), food products by 1% ($ 11.7 billion). Fuel and energy imports fell by 28% ($ 4.5 billion).

Due to the reduction in foreign trade, Ukraine lost about $ 5 billion – a negative factor caused by the coronavirus and the introduction of quarantine restrictions. It is planned to gradually restore trade volumes after the quarantine is relaxed this year.