Trade deficit down 18.0% y/y in December 2020
In December 2020, trade deficit narrowed by 18.0% y/y to US$ 473.3mn as exports declined by 17.7% y/y to US$ 325.7mn and imports fell by 17.9% y/y to US$ 799.0mn.
In December 2020, copper (+3.1% y/y), cars (-60.2% y/y), wine (+19.5% y/y), spirits (+8.3% y/y) and ferro-alloys (-62.3% y/y) were the top 5 exported commodities. A 20.8% of exports were directed to the EU (-7.3% y/y), 50.4% to the CIS (-23.5% y/y) and 28.7% to other countries (-13.5% y/y).
Cars (-40.9% y/y), petroleum (-33.5% y/y), gases (-2.9% y/y), pharmaceuticals (+11.7% y/y) and copper (-33.0% y/y) represented the top 5 imported commodities in December 2020.
Overall in 2020, trade deficit was down 18.4% y/y to US$ 4.7bn as exports reduced by 12.0% y/y to US$ 3.3bn and imports decreased by 15.9% y/y to US$ 8.0bn.
