Exports of goods from Ukraine to Russia fell by 48% in January 2015 year-over-year, to $121 million, while imports from Russia plunged by 60.6%, to $246 million, according to data presented by the National Bank of Ukraine (NBU).
The NBU said that goods turnover between the two countries fell by 57.8%, to $367 million, and the balance improved by 3.1 times, but remained negative - $125 million.
"The Russia's share of exports fell to 6.6% from 8.6% in January 2015. The Russia's share of imports decreased from 19.9% to 10.1%," the central bank said.
The NBU said that the imports fell due to a decline of 52.4% in energy imports, while non-energy imports decreased only by 6.8%.
The regulator said that the deficit of foreign trade with goods in January 2016 rose by 35.5%, to $580 million, while exports fell by 32.1% (14.1% down in December 2015) and imports dropped by 22.9% (34% down).
The NBU said that exports of goods totaled $1.85 billion and imports – $2.43 billion in January.
The central bank said that exports of ferrous and nonferrous metals decreased by 46.8% year-over-year, to $428 million, exports of food (including grain) was down by 19.8%, to $873 million, mineral products (including ores) – by 44.5%, to $142 million, chemicals – by 40.3%, to $108 million and engineering products – by 32.4%, to $118 million.
The NBU said that exports to Asia almost halved, and its share fell to 32.7% from 39.2% in January 2015, while exports to the EU fell only by 7.6%, and its share grew to 41.1% from 30.2% in January 2015.