Business news from Ukraine

DEFICIT OF UKRAINE’S FOREIGN TRADE IN GOODS IN JAN-APR FALLS BY ALMOST 98%

The deficit of Ukraine’s foreign trade in goods in January-April 2022 fell by almost 97.6% compared to the same period in 2021, to $29.6 million from $1.237 billion, the State Statistics Service reported on Tuesday.

According to its data, the export of goods from Ukraine for the reporting period compared with January-April 2021 declined by 12.3%, to $16.712 billion, imports fell by 17.5%, to $16.742 billion.

The State Statistics Service said that in April this year, compared to March 2022, the seasonally adjusted volume of exports increased by 7.2%, to $2.727 billion, and imports, by 65.1%, to $2.78 billion.

The seasonally adjusted foreign trade balance in April 2022 was negative and amounted to $0.053 billion, which is better than in April 2021, when the seasonally adjusted foreign trade balance was also negative at $0.359 billion.

The State Statistics Service recalls that in March 2022 it was positive and amounted to $0.86 billion.

The export-to-import coverage ratio in January-April 2022 amounted to 1.00 (in January-April 2021 – 0.94).

The State Statistics Service said that foreign trade operations were carried out with partners from 215 countries.

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US PLANS TO ALLOCATE $1.5 BLN TO UKRAINE MONTHLY IN COMING MONTHS

The United States authorities intend to send about $1.5 billion a month to Ukraine to support the work of the government, Dereck Hogan, the Principal Deputy Assistant Secretary in the Bureau of European and Eurasian Affairs, said.
He said at a seminar at the Woodrow Wilson Center in Washington they had already allocated $1 billion for these purposes through various mechanisms and intended to send about $1.5 billion more monthly during 4-5 months.
The official noted that direct support for Ukrainian authorities is one of the priorities of the administration of President Joe Biden.
He said that the US should take into account the medium and long term, and now the US efforts should be focused on ensuring the work of the government of Ukraine.
The United States and NATO allies are continuing massive arms and ammunition deliveries to Ukraine. Mykhailo Podoliak, the adviser to the head of the Ukrainian President Office’s, said earlier that Kyiv would like to receive 300 multiple launch rocket systems from the West.
At the same time, US officials, both former and incumbent, warn of the need to establish control over the use of aid provided by the United States to Kyiv.

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UK AND POLAND BECOME MAJOR SUPPLIERS OF MEDICAL ASSISTANCE TO UKRAINE IN PAST WEEK

The UK and Polish governments were the main suppliers of medical assistance to Ukraine in the past week, the press service of the Health Ministry of Ukraine has said.
The ministry said that the UK government and the Strategic Reserves Agency of Poland were the major suppliers.
The Health Ministry also noted assistance of the Embassy of Bulgaria in Ukraine, the Direct Relief international humanitarian aid organization, the Kyiv School of Economics Charitable Foundation, the Center of Volunteering and Protection charitable organization, One Ukraine, and Americares global non-profit organization.
The ministry reported that it received six ambulance vehicles, 1,000 packs of hemostatic gauze, 125 patient monitors, 7.5 tonnes of antibacterial agents, 153.5 tonnes of various medicines, 26.5 tonnes of drugs for Covid-19, 60 tonnes of personal protective equipment, and 5 tonnes of syringes from volunteers and partner countries over last week.

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TURKEY AWAITING RESPONSE FROM RUSSIA ON ORGANIZING MEETING TO DISCUSS EXPORT OF GRAIN FROM UKRAINE – TURKISH FM

Ankara is awaiting a response from Moscow on organizing a possible meeting between Turkey, Russia, Ukraine and the UN to discuss the issue of exporting grain from Ukraine, Turkish Foreign Minister Mevlut Cavusoglu said on Saturday.
“Our position was stated very clearly. We are awaiting a response from the Russian side, both on the issue of holding the meeting and other details,” the Anadolu agency quotes him as saying.
“We stressed the Turkish side’s readiness to organize a quadripartite meeting in the UN-Turkey-Ukraine-Russia format. This is ultimately a UN initiative,” the minister said.
Cavusoglu said that during talks this week with Russian Foreign Minister Sergei Lavrov, he explained that the UN plan to transport grain from Ukraine by sea is the best.
Earlier this week, the Turkish Foreign Minister said that Ankara considers the UN plan to export grain from Ukraine feasible. He noted that discussions are underway on the creation of a “grain corridor” mechanism in the Black Sea with the participation of the UN, Russia, Ukraine and Turkey.

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ZELENSKY GRATEFUL TO WESTERN COUNTRIES, INTL ORGANIZATIONS FOR FINANCIAL SUPPORT TO UKRAINE

President of Ukraine Volodymyr Zelensky expressed gratitude to the governments of Western countries and international organizations for financial support to Ukraine.
“I am grateful to the government of Britain, the leadership of the World Bank, the government of Canada for taking new steps in financial support for Ukraine,” he said in a video statement on the night of Friday to Saturday.
He said “the day before, our state received $1.5 billion: $1 billion from the World Bank, another $500 million from the UK. It is direct budget support.”
“We use it to pay wages in the public sector. Canada was the first country to send funds to our administrative account with the IMF, this is CAD 1 billion,” he said.

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PRESIDENT OF EUROPEAN COMMISSION URSULA VON DER LEYEN ARRIVES IN UKRAINE

President of the European Commission Ursula von der Leyen said she had arrived in Kyiv and intended to meet with President of Ukraine Volodymyr Zelensky.
“Good to be back in Kyiv. With President Volodymyr Zelensky I will take stock of the joint work needed for reconstruction and of the progress made by Ukraine on its European path,” she said on Twitter.

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