Exports up 10.0% y/y in January 2020
In January 2020, exports increased 10.0% y/y to US$ 262.6mn and imports were also up 4.0% y/y to US$ 619.8mn. As a result, the trade deficit was flat y/y to US$ 357.2mn, according to Geostat.
In January 2020, cars (+97.8% y/y), copper (+16.1% y/y), precious metal (+US$ 16mn), ferro-alloys (-15.1% y/y) and wine (-6.4% y/y) were the top 5 exported commodities. A 17.1% of exports was directed to the EU (-24.7% y/y), 45.3% to the CIS (-5.0% y/y) and 37.5% to other countries (+83.7% y/y).
In January 2020, gases (+25.5% y/y), petroleum (+11.9% y/y), cars (+29.5% y/y), copper (-27.9% y/y) and phones (+39.0% y/y) represented the top 5 imported commodities.
Producer price index up 7.1% y/y in January 2020
Annual PPI for industrial goods reduced to 7.1% in January 2020 from 7.8% in previous month, according to Geostat. Rising prices in manufacturing (+7.4% y/y) and mining and quarrying (+20.8% y/y) contributed the most to the overall index change.
