News
15.09.2009
Ukraine Sees Growth in Trade Balance Deficit
In July 2009 exports of goods amounted to USD 3.2bn, while commodity imports amounted to USD 3.7bn. This resulted in USD 0.7bn and USD 3.9bn of Trade balance deficit in July and 7M2009, respectively. The main exports contributors were agricultural products and ferrous metals. While major imported goods were energy resources.
Millennium Capital expected such an increase in TB Deficit, since, related to the reduction of the natural gas prices in 3Q09, Ukraine tripled natural gas imports in July 2009. At the same time, grain prices started decreasing related to the beginning of harvest period, reducing agriculture exports value. Millennium Capital expects imports amounts to preserve in august 2009, related to natural gas imports, while the exports amounts should slightly grow due to the exports of early crops. Overall, Millennium Capital forecasts TB Deficit of around USD 2bn in 2009.
Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of tickets selling for its flights due to high arrearage to the creditors of the company.
OREANDA-NEWS
