In May 2018, exports growth surged 50.2% y/y to record high US$ 323.3mn, imports were up 25.2% y/y to US$ 803.4mn and the trade deficit widened 12.5% y/y to US$ 480.1mn, according to GeoStat. Overall, in 5M18, exports increased 28.0% y/y to US$ 1.3bn, imports were up 23.4% y/y to US$ 3.6bn and the trade deficit widened 20.9% y/y to US$ 2.3bn. Increased exports of copper (+47.7% y/y), ferro-alloys (+184.6% y/y), cars (+67.1% y/y) and wine (+33.7% y/y) were the major commodities driving exports growth in May 2018. A 16.7% (-16.5% y/y) of exports were directed to the EU, 47.6% (+74.9% y/y) to the CIS and 35.7% (+84.3% y/y to other countries. Petroleum (+36.6% y/y), cars (+20.9% y/y), air-turbines (111x higher y/y) and pharmaceuticals (+11.9% y/y) represented the major imported commodities in May 2018.
Source : G&T
