Cabinet worsens negative trade balance outlook for 2011
2010-12-10 12:40:10
The trade balance, defined by the balance of payments methodology, in 2011 will be negative and total USD 3.398 billion, according to a decree of the Cabinet of Ministers dated December 8, 2010.
In the previous forecast, the deficit amounted to USD 2.479 billion.
Exports of goods and services made up USD 74.44 billion (previously - USD 72.908 billion), imports - USD 77.838 million (USD 75.387 billion).
According to the State Statistics Committee, the negative trade balance of Ukraine for 9 months this year increased to USD 1.83.5 billion to USD 63.3 million.
Exports amounted to USD 44.421.9 billion, which is 29.3% higher than over the same period last year, imports - USD 45.505.4 billion, which is 28.6% higher than for 9 months in 2009.
The negative balance of trade in goods was USD 5.427.5 billion (USD 41.680.3 billion of imports against USD 36.252.8 billion of exports).
Meanwhile, the balance of trade in services is positive - USD 4. 344 billion (USD 8.169.1 billion of exports and USD 3.825.1 billion of imports).
The Ministry of Economy of Ukraine predicts a trade surplus by the end of the year at USD 300 million, Deputy Economy Minister Valeriy Muntiyan announced late in August. According to him, the trade surplus will be achieved through export growth in metallurgy, machine building and agriculture.