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UPDATE 1-Ukraine Jan-Jul trade gap narrows to $3.1 bln

Published 09/10/2009, 06:41 AM
Updated 09/10/2009, 06:45 AM

* Exports fall 49.0 pct to $20.54 bln in Jan-Jul

* Imports fall 53.8 pct to $23.67 bln

(Adds details)

KIEV, Sept 10 (Reuters) - Ukraine's foreign trade deficit for goods shrank to $3.13 billion in the first seven months of 2009, data showed on Thursday, crushed by the global crisis to less than a third of its size in the same period of 2008.

The State Statistics Committee said the volume of exports in the seven months to July fell 49.0 percent to $20.54 billion, while imports fell by 53.8 percent to $23.67 billion.

The foreign trade deficit for goods was $11.01 billion in the first seven months of 2008.

The world financial crisis has driven down prices and demand for the steel and chemicals that account for the bulk of Ukraine's overseas sales.

The trade deficit narrowed because imports, undermined by the devaluation of the hryvnia currency and tight credit in the banking sector, fell even more sharply than exports. (Reporting by Natalya Zinets, writing by Robin Paxton; Editing by Ruth Pitchford)

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