Foreign Economic Activity. Balance of Payments

As it was repeatedly emphasized by The Ukrainian Economic Monitor, the statistics of foreign economic activity are still very imperfect in Ukraine. Therefore, there are significant gaps between data provided by the State Committee for Statistics of Ukraine and data provided by the National Bank of Ukraine (the latter are commonly believed to be more reliable). Thus, whereas according to the State Committee for Statistics¹ data a positive balance in foreign trade in commodities and services has been achieved for the first time during many years, data of the National Bank of Ukraine suggest quite the opposite: export of commodities and services amounted to $20,355 mln USD (i.e., which was at the level of 1996) and import were $21,891 mln USD (a 2% increment during the year). That is, the negative balance of foreign trade was $1,536 mln. USD (tabl. 8).

Nonetheless, despite its imperfections, statistical data provided by the State Committee for Statistics allows one to trace many trends that exist in reality. For this reason, The Ukrainian Economic Monitor will continue to publish this data. Official bulletins of the State Committee for Statistics publish no data on foreign trade of Ukraine pertaining to January-March 1998.


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