The export turnover of Ukrainian goods amounted to $6,268.1 million and the volume of import to $6,691.3 million in January and February, a 32.7% and 22.1% increase respectively from the same period of 2016. The unfavorable foreign trade balance worked out to $423.2 million, compared with $756.1 million in January and February 2016.
Export to the European Union rose by 16.2%, compared with January and February 2016. Incidentally, with the EU itself predicting flat GDP growth below 2% through 2019, it is hard to get behind some of the enthusiasm of certain analysts for the European trade. According to Christopher Whalen, publisher of The Institutional Risk Analyst, the fact that the Germans and French are falling in love again does little to cheer the nations of Eastern Europe, which are among the most dynamic and fastest growing parts of the EU.
Within the period under review export to Byelorussia and Russia rose by 58.4% and 54.4% respectively.
A retail trade turnover increased by 3.1% to 164.7 billion grivnas in Ukraine in January-March, compared with the same period last year. The turnover of enterprises of wholesale trade rose by 1% to 374.2 billion grn in January-March, compared with a year-earlier period.
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