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Exports Increased by 17.1% Y/Y in September

In September 2018, exports increased by 17.1% y/y to US$ 301.7mn, imports were up 3.3% y/y to US$ 711.4mn and the trade deficit was down 4.9% y/y to US$ 409.7mn, according to GeoStat.

In September 2018, copper (+63.9% y/y), ferro-alloys (+52.5% y/y), cars (+36.8% y/y), cigarettes (+213.3% y/y) and wine (-3.3% y/y) were the top 5 exported commodities. A 25.6% of exports was directed to the EU (+25.4% y/y), 45.1% to the CIS (+22.1% y/y) and 29.3% to other countries (+4.6% y/y).

In September 2018, petroleum (-4.0% y/y), cars (-7.6% y/y), copper (+41.7% y/y), pharmaceuticals (-11.9% y/y) and phones (+9.5% y/y) represented the top 5 imported commodities.

Overall, in 9M18, the trade deficit was up 15.5% y/y at US$ 4.2bn as exports were up 25.7% y/y to US$ 2.4bn and imports increased by 19.1% y/y to US$ 6.7bn.