- Ukrainian export and import grew by 22.1% y/y and 29.4% y/y respectively in January-July of 2017
- NBU simplified loan-raising from international financial institutions
The UX index decreased by 0.8% yesterday and the PFTS index decreased by 0.2% (in UAH terms). The WIG-Ukraine increased by 1.7%. On the interbank exchange market, the USD/UAH was up by 0.3% to UAH 26.16 (mid price), according to Thomson Reuters. The official exchange rate reported by the NBU was UAH 26.08.
Ukrainian export and import grew by 22.1% y/y and 29.4% y/y respectively in January-July of 2017
As reported by State Statistics Service of Ukraine, for the first seven months of 2017 export increased to USD 23.9 bn (+22.1% y/y) and import grew to USD 26.7 bn (+29.4% y/y), resulting in the negative trading balance increase to USD 2.7 bn. The export coverage ratio was 0.90 (-5.3% y/y). Compared to January-July of 2016, export volume of the main groups of products had an impressive growth in the same period of 2017. In particular, export of vegetable products increased by USD 842 mn (+21.5% y/y) to USD 4,759 mn, due to the crops export growth by USD 652 mn (+21.5% y/y) to USD 3,685 mn. Exports of fats and oils of animal or vegetable origin increased by USD 618 mn (+27.3% y/y) to USD 2,883 mn, of mineral products by USD 820 mn (+56.1% y/y) to USD 2,281 mn, of metals and products thereof by USD 912 mn (+19.7% y/y) to USD 5,544 mn and of machines and equipment by USD 301 mn (+15.1% y/y) to USD 2,296 mn. For the first seven months of 2017 import volumes had increased significantly as well, compared to the same period of time in 2016. Particularly, import of mineral products increased by USD 2,623 mn (+67.7% y/y) to USD 6,497 mn, due to a USD 2,585 mn (+73.7% y/y) growth of oil and oil products import. Meanwhile, imports of chemical products increased by USD 454 mn (+14.1% y/y) to USD 3,676 mn, of machines and equipment by USD 1,118 mn (+27.0% y/y) to USD 5,257 mn and of vehicles by USD 818 mn (+56.4% y/y) to USD 2,263 mn.
We think that such growth in export during the first seven months of 2017 is a positive sign of the Ukrainian economy recovering after the crisis in 2014. After the loss of the main market of export – Russian Federation, Ukraine found new markets for its products sales, establishing new trading relationships within Europe and Asia.
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