According to weekly bulletin published by TBC Capital, imports of goods also declined (-19.3% YoY), primarily reflecting falling imports of transport equipment (-35.0%) and fuels (-33.4% YoY). Lower imports of consumer goods (-19.4% YoY), capital goods (-14.0% YoY), and industrial supplies (-15.3% YoY) also significantly contributed to the overall decline. On the other hand, imports of food products increased slightly by 2.1% YoY.
As of the report, decline in exports of goods moderated further to -7.5% YoY in August 2020 compared to 15.3% YoY decline in previous month.
Exports dropped both to the CIS countries (-20.3% YoY) and to EU (-11.1% YoY), but increased to other countries (+26.3% YoY), mostly on the back of higher exports to China (+62.1% YoY) and Turkey (+65.3% YoY). In terms of product categories exports of cars (-12.8% YoY), wine and spirits (-12.0% YoY), waters (-8.8% YoY), medicaments (-5.4% YoY) decreased, while the exports of copper (+7.5% YoY), ferro-alloys (+34.5% YoY) and gold (+38.9% YoY) contributed positively to the growth of exports.
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