In April 2021, exports surged by 70.0% y/y to US$ 378.1mn after increasing by 30.6% y/y in the previous month. Notably, exports were also up by 21.6% compared to April 2019 level.
Imports also increased by 56.5% y/y to US$ 749.1mn, after growing 18.5% y/y in previous month. As a result, trade deficit widened by 44.8% y/y to US$ 371.0mn in April.
In April 2021, copper (+88.5% y/y), cars (+460.9% y/y), ferro-alloys (-17.5% y/y), wine (+104.0% y/y) and spirits (+84.5% y/y) were the top 5 exported commodities. A 14.5% of exports were directed to the EU (+28.2% y/y), 44.1% to the CIS (+78.7% y/y) and 41.4% to other countries (+81.5% y/y).
Petroleum (+161.7% y/y), cars (+86.3% y/y), copper (-18.8% y/y), pharmaceuticals (-2.7% y/y) and gases (-12.2% y/y) represented the top 5 imported commodities in April 2021.
Overall in 4M21, the trade deficit was up by 3.6% y/y to US$ 1.5bn, as exports increased by 19.6% y/y to US$ 1.2bn and imports increased by 10.1% y/y to US$ 2.7bn.
