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Ukraine's trade deficit balloons in 2011

      RBC, 15.02.2012, Kiev 16:37:00.Ukraine's foreign trade deficit widened 52% year-on-year to $14.2bn in 2011, the country's State Statistics Service said in a statement.

      The country's exports amounted to $68.41bn, up 33.1% year-on-year, while imports totaled $82.61bn, up 36%. The negative trend in Ukraine's foreign trade was driven by a number of product groups, including mineral fuels, oil and refining products, ground transportation facilities, except rail transport, and machinery.

      Ukraine was involved in trade operations with 222 countries, with exports within the CIS reaching 38.3% of its total trade turnover and Russia as the biggest trade partner, as 29% of its exports were Russia-bound.

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