UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
Russian (CIS)English (United Kingdom)
Experts
New Publication:
New Publication:
New Publication:
Publications Calendar
< 07/2017 >
Mo Tu We Th Fr Sa Su
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31            
 


Dramatic Growth in Commodity Imports in Ukraine

In the first half of 2011, the growth in commodity imports in Ukraine amounted to 51.3% and exports went up by 42.7% from the same period last year. A faster growth in imports imposes high pressure on the Ukrainian national currency.

Growth in commodity imports to Ukraine increased by 51.3 % in the first half-year 2011 compared to the same period in 2010, which is a significantly higher index than it was one year before (up 32.8% in 1H 2010 from 1H 2009). At the same time, accelerated growth of exports is observed ( up 42.7% in 1H 2011, while it was up 32.5% in the same period last year from 1H 2009).

The outrunning growth of imports was caused by a rapid increase in imports of machinery products to Ukraine, especially vehicles  (up 71.1%), as well as mineral raw materials (up 65.3%), and ferrous and non-ferrous metals (up 52%).

A faster growth of imports in Ukraine shows on the one hand that the country has finally overcome the shock of 2008 when the national currency depreciated by 60%. But on the other hand, the growth in imports outrunning the exports growth imposes high pressure on our national currency, since import is largely financed by external loans. It should be also taken into consideration that imports increase of vehicles and machinery in Ukraine (21.4% out of total imports) is stimulated through active lending to consumers of these goods within the country.

Source: National Bank of Ukraine

 
Share: