WT/BOP/G/21  
 
8 April 2015  
(15-1910)  Page: 1/37  
Committee on Balance-of -Payments Restrictions  Original: English  
 
 CONSULTATIONS WITH UKRAINE 
BASIC DOCUMENT SUPPLIED BY UKRAINE 
OVERVIEW OF THE SITUATION AND OUTLOOK OF THE BALANCE OF PAYMENTS TAKING 
INTO ACCOUNT INTERNAL AND EXTERNAL FACTORS THAT AFFECT THE SITUATION 
1  INTRODUCTION 1.1.  This document has been prepared pursuant to para.11 of the Understanding on the 
Balance-of-Payments Provisions of the General Agreement on Tariffs and Trade 1994. It contains:  
a)  review of the balance-of-payments situation and prospects, including a consideration of 
the internal and external factors having a bearing on the balance-of-payments situation 
and the domestic policy measures that are being taken in order to restore equilibrium on a 
sound and lasting basis;  
 
b)  a full description of the restrictions applied for balance-of-payments purposes, their legal 
basis, and steps that are being taken to reduce the resulting effects of the policy;  
 
c)  a description of conditions for the elimination or progressive relaxation of the remaining 
restrictions. 
 1.2.  This document was prepared using statistica l data and information from the National Bank of 
Ukraine (NBU), the Ministry of Finance of Ukra ine, the Ministry of Economic Development and 
Trade of Ukraine, the Ministry of Agrarian Policy and Food of Ukraine, the Ministry of Energy and 
Coal Industry of Ukraine, the State Fiscal Serv ice of Ukraine, the State Statistics Service of 
Ukraine (SSS), and the International Monetary Fund (IMF). 
2  OVERVIEW OF THE BALANCE OF PAYMENTS SITUATION AND OUTLOOK FOR 
UKRAINE'S ECONOMY, INCLUDING INTERNAL AND EXTERNAL FACTORS HAVING A BEARING ON THE BALANCE OF PAYMENTS SITUATION.  
2.1  The Economic reasons for the introduction of measures 
2.1.1  The economic situation in Ukraine  2.1.  In 2010-11 in Ukraine there was a relative recovery from the global financial crisis and its 
aftereffects on the real economy. This economic recovery was driven by the influence of demand 
from foreign markets and the increase of purchasing power domestically. 
2.2.  In terms of favorable impacts from intern al and external short-term events in 2011 through 
the first half of 2012, there was a significant increase in the volume of investment led by one-time 
factors such as construction and other preparations for the Euro 2012 (UEFA European Football 
Championship) which was held in Ukraine.  
2.3.  During this period, apart from these temporary factors, the domestic market was generally 
characterized by low liquidity of financial sector assets, which in turn, created a lack of financial 
resources for lending and investment.  WT/BOP/G/21 
 
- 2 - 
 
  2.4.  Taking into account these complex factor s in 2011, GDP growth in Ukraine reached 5.5%. 
However, the pace of structural reform slow ed down preventing further economic growth. 
2.5.  In the period from 2012-14, Ukraine's economic  growth continued to fall due to the impact of 
internal and external factors that, up until the pr esent, contribute to the negative performance in 
almost all sectors of the economy. In sum, during 2012-13, there was insignificant real 
GDP growth amounting to only 0.2% annually, crea ted mainly by an increase in domestic demand 
due to the expansion of the consumer consumption ( see Annex 1 ). 
2.6.  The deterioration of the economic situatio n in the country was the result of unfavorable 
external conditions and their growing influence on the internal imbalances in the economic system of the country. These factors include: negative foreign exchange market fluctuations in the financial sector, macroeconomic uncertainty, the downgrading of Ukraine's investment rating, 
etc.).  
2.7.  Adverse external conditions, such as the fall in prices and a reduction of global demand for 
major categories of Ukrainian export goods such as metals, further negatively impacted external 
demand and economic growth. These factors, an d the end of the Euro 2012 investment surge, 
were exacerbated by a general "cooling" in the investment sphere. In this period, domestic consumer demand played a mitigating role in term s of compensating for the negative trends in the 
investment sector and in negati ve fall in external demand. 
2.8.  In 2014 the negative trends in the economy of the preceding years intensified as a result of 
the economic and geopolitical impact of the annexation of the Autonomous Republic of Crimea, the deterioration of relations with the Russian Federation, and the military conflict in eastern Ukraine. 
2.9.  By the end of 2014, the impact of the fa ll in domestic demand and in Ukraine's export 
markets negatively impacted GDP. In 2014, the de pth of the decline of Ukraine's GDP accelerated 
the real GDP for 2014 decreased by 6.8% in comparison with 2013 ( see Annex 1 ). 
2.10.  Meanwhile, these events took place against a background of restrictive social policies and 
the rapid growth of consumer prices in 2014 which further weakened household consumer 
spending along with the weakening of production and foreign economic activity. 
2.11.  Due to the instability created by the military conflict in eastern Ukraine and the annexation 
of Crimea, the macroeconomic instability and imbalances in the financial sector of the economy, investors have mainly considered Ukraine to be a high risk investment country. 
2.12.  To demonstrate this, in 2014, foreign investors invested US$2.45 billion in the Ukrainian 
economy. That is 56.8% less than the volume of investments in 2013, 59.2% less than the volume 
of direct investment in 2012, and 62.2% less than the volume of investment in 2011. 
2.1.2  The consumer market situation in Ukraine 
2.13.  During 2011-13, Ukraine generally had low inflation. In 2011, consumer prices increased by 
4.6%. In 2012, they declined by 0.2%. In 2013, they increased by 0.5%, respectively. This low 
inflationary environment can be attributed to the stability of the currency market, the lack of 
pressure from monetary factors, and the low rate of price increases on agricultural and industrial 
products. In addition, the balanced policies used in the regulation of prices for housing and communal services had a moderating impact on the consumer price index (see Annex 2).  Data on 
savings and expenditures of households can be found in Annex 5 . 
2.14.  In 2014, however, there was an acceleration of prices of up to 24.9 percent. The reasons for 
this increase include: 
 the annexation of Crimea, the intensification of the military conflict in eastern Ukraine, 
and the resulting macroeconomic uncertainty contributed to a decline in consumer 
confidence and negative expectations about growth a by economic operators;  
 the devaluation of Ukraine's national cu rrency, the Hryvnia (UAH), against the 
U.S. Dollar. In 2014, the Hryvnia depreciated by 97.3% ( see Annex 3 ). This WT/BOP/G/21 
 
- 3 - 
 
  devaluation was subsequently reflected in terms of higher prices for various product 
groups, where the share of imported products  in Ukraine is high. For example, prices 
for household consumer goods, household appliances, and the costs of products for the daily maintenance of housing, increased by 27.9%; the prices for pharmaceutical 
products, medical supplies, and medical eq uipment increased by 44.9%; the cost of 
clothing and footwear increased by 14.5%;  
 consumer prices also increased due to the lag effects from the increase in domestic 
prices in 2014 by 31.8%. The prices of manufactured food products, beverages, and tobacco products increased by 27.3% and average selling prices of agricultural enterprises increased by 33% in November 2014 compared to December 2013. In 
2014, prices for manufacturers also increased because of the rising cost of 
transportation and other logistic as a part of production costs by 60.7%;  
 administratively regulated fees for households and public utilities: in general, prices 
for the group of fees on "Housing, water, electricity, gas and other fuels" increased by up to 34.3% in 2014. 
Table 1 Retail Turnover, 2013-14 
  2013 2014 
Retail turnover, 
million Hryvnia  Growth rate, in 
%, to 
preceding year Retail 
turnover, 
million 
Hryvnia Growth rate, 
in %, to 
preceding 
year 
Ukraine 884 204 109.5 903 535 91.4 
including:         
Donetsk region 89 713 108.5 65 745 63.0 
Luhansk region 37 464 108.9 21 970 51.0 
Autonomous Republic of Crimea 51 185 112.2 - - 
 
2.1.3  The devaluation of th e Hryvnia (national currency) 
2.15.  In 2011-13 the fluctuation of the Hryvnia exchange rate in relation to the U.S. Dollar on the 
interbank market was modest, falling within the range of 7.93 - 8.15 Hryvnia/U.S. Dollar 
(see Annex 3 ). In 2011-13 the NBU conducted interventions to influence the dynamics of the 
Hryvnia exchange rate and to ensure payments to "Naftogaz" in U.S. Dollar for imported gas. The 
NBU net foreign exchange intervention in 2011-13 was negative and amounted to 3.7, 7.5, and 3.1 billion (in U.S. Dollar equivalent). 
2.16.  However, during this period, the macroeconomic imbalances existing in the country 
deepened. They had been caused by soft demand and the focus in fiscal policy on the current 
consumption. Real wages increased by 14% and 8% in 2012 and 2013, respectively. In addition, there was increase in government energy subsidies for the population. Because of the gap 
between the prices of imported gas and domestic prices, the deficit of the National Joint Stock 
Company "Naftogaz" of Ukraine was almost 2% of GDP in 2013. 
2.17.  As a result, public debt exceeded 40% of GDP at the end of 2013. In turn, Ukraine's foreign 
currency debt reached 65%, significantly increasing currency risk. 
2.18.  In 2014, the accumulated macroeconomic an d currency imbalances sharpened due to social 
and political instability, the annexation of Crimea, and hostilities in the east of Ukraine. The foreign currency earnings reduced by 28.7% (compared to 2013). The rate of foreign currency earnings 
reduction significantly increased from 2.5% in I quarter of 2014 to 53.9% in IV quarter.  
2.19.  As a result, Ukraine's deficit of non-cash foreign currency in 2014 amounted to almost 
US$10 billion equivalent (in 2013 the foreign currency supply exceeded its demand by 
US$1.6 billion). 
2.20.  In the cash segment of the foreign ex change market, the foreign currency demand 
exceeded supply by US$2.4 billion. WT/BOP/G/21 
 
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  2.21.  However, the diminishment of gold and fore ign currency reserves did not allow the National 
Bank of Ukraine to support the exchange rate of Hryvnia through interventions at the level of the 
currency sales volumes of previous years (see Annex 2 ). 
2.22.  Therefore, having been subject to negative  economic pressures stemming from the political 
and economic situation in the country, the annexation of part of the territory, armed conflict, the 
Hryvnia depreciated against the US Dollar on the interbank market by 93.5%. 
2.23.  Taking into account that the Hryvnia has greatly depreciated, demand for foreign currency 
has increased, resulting in permanent stress conditions in the operation of the currency market. 
2.24.  The NBU intervention on selling currency could interrupt the trend of a downward spiral, 
which can be self-reinforcing. However, because of the very limited amount of international reserves (as of 1 March 2015, international reserves fell to US$5.6 billion) as well as awareness of 
these limited reserves by market participants, intervention actions will not achieve satisfactory 
results and do not seem to be possible. 
2.25.  Taking into account the above mentioned factors it is appropriate to take emergency 
measures in order to limit the foreign currency demand, in particular, to temporarily reduce 
imports. 
2.1.4  Ukraine's Energy Sector 
2.26.  Ukraine's economy is one of the most energy intensive economies in the world with limited 
domestic energy resources. Data on produc tion, import and export can be found in Annex 6 .  
2.27.  In particular, the Ukrainian economy depends on natural gas. The natural gas production in 
Ukraine is insufficient to meet its own needs. 
2.28.  At the beginning of 2014 in Ukraine, ther e was an absolutely unfavorable situation with 
regard to natural gas consumers. At the beginning of the year, "Gazprom" raised prices and from June stopped all gas supplies. In this difficult situation, the Government of Ukraine had to 
compensate for the lack of gas by importing from Europe. 
2.29.  In 2014, Ukraine managed to begin to dive rsify its gas supply, increasing its supply of gas 
from EU sources by 4.0 billion cubic meters from January to November 2014 were re-imported 
from Poland, Slovakia, Hungary. Over the same period last year, Ukraine imported 2.1 billion cubic 
meters from Europe, compared with the period  two years ago - 0.1 billion cubic meters.  
2.30.  The significant resource potential of Ukraine was lost due to annexation of Crimea. 
A significant part of Ukrainian oil and gas fields are located in the Black Sea basin. During recent 
years Ukraine has invested the largest amount of funds in gas producing industry in Crimea, in 
particular investment in the state-owned ente rprise "Chernomorneftegaz", which has been 
collected by Russia. Russian occupation of Crimea has brought real and potential losses to 
Ukrainian fuel and energy complex amounting to US$300 billion. 
2.31.  The escalation of hostilities in eastern Ukraine has caused extreme damage to the Ukrainian 
coal industry. According to approximate estimates in eastern Ukraine today only 24 of 
95 state-owned mines work at a normal capacity, 57 mines operate in a mode in which only a 
minimum of staff is employed. In addition, 14 mi nes were completely destroyed. Some of these 
mines had produced over one million tons of coal per year. 
2.32.  The importance of coal for Ukraine is essential. It is used in thermal power plants to 
generate electricity for household needs and industry. It is a source of regional employment. In 
addition, coal-derived energy is used for the need s of agriculture, the production of construction 
materials, etc.  
2.33.  Because of this radical decline in the normal production capacity of Ukrainian mines, at the 
beginning of 2015, the coal deficit in Ukraine grew to approximately three million tons. This has a negative impact on electricity generation, which in turn, has led to periodic electricity cut-offs for 
most regions of the country. WT/BOP/G/21 
 
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  2.34.  The factors detailed above explain how the territorial issues have exacerbated the economic 
crisis in the country. Further, it has had broader effects including a decrease in business activity across the board, a further decline in consumer confidence, and a severe deterioration of the financial condition of enterprises and households. 
2.35.  Direct losses from the occupation of the territories of Ukraine, located in the zone of military 
conflict in the Lugansk and Donetsk regions, as we ll as the territories of Crimea, are as follows: 
Table 2 Direct losses from the occupa tion of the territories of Ukraine 
 Total Donetsk region Luhansk region AR Crimea Sevastopol 
Population 13.5% 2269600  
(52.2% of population 
in the region) 1514800  
(67.6%) 1966600 386200 
Industrial 
products 17.5% 111.1 bln Hryvnia  
(54% of total volume 
in the region) 56.3 bln Hryvnia  
(83.1%) 22.7 bln 
Hryvnia  4.1 bln 
Hryvnia  
Agricultural 
products 4.8% 3540 mln Hryvnia  
(30.8% of total 
volume in the region) 1770 mln Hryvnia  
(27.2%) 6592.8 mln 
Hryvnia  156,8 mln 
Hryvnia  
Construction 
work 16.6% 5819.9 mln. Hryvnia  1325.7 mln Hryvnia  2143.9 mln 
Hryvnia  458.3 mln 
Hryvnia  
Export of goods 16.7% US$6585.4 mln  US$2976.1 mln  US$914.9 mln US$99.8 mln 
Import of goods 6.6% US$3056.4 mln US$831.5 mln  US$1044.5 
mln US$107 mln 
Export of 
services 7.7% US$489.6 mln  US$132 mln  US$521.7 mln US$81.3 mln 
Import of 
services 9.5% US$532.6 mln  US$113.4 mln  US$75.9 mln US$10 mln 
Retail turnover 
of enterprises 15.1% 28.9 bln Hryvnia  12.3 bln Hryvnia  24 bln Hryvnia  
Road freight 
transportation 
tons-km 9.9% 2141.7 mln t/km 635.3 mln t/km 597.9 mln t/km 
Road passenger 
transportation 17.1% 3971.6 mln t/km 1502.2 mln t/km 597.9 mln t/km 
 
2.36.  Direct losses to the State budget total UA H 9.29 billion in 2014. The military conflict in the 
east of Ukraine, in addition to the toll on human  lives, has led to the destruction and damage of: 
housing; industrial facilities; road and transport infrastructure; the energy, gas, water supply network, and waste water treatment facilities, public health services facilities, retail 
establishments, and other facilities. 
2.37.  According to the preliminary estimates of local authorities and local governments, as of 
30.01.2015, in Donetsk and Lugansk 11.1 thousand different forms of property were damaged due 
to the military conflict totalling more than UAH 4.3 billion. This includes: 8292 houses valued at to 
UAH 681.9 million, 438 education, health, physical education and sport facilities valued at UAH 458.2 million, 1461 critical infrastructure objects, including power supply lines and stations valued at UAH 880,5 million, 454 segments of the road transportation infrastructure valued at 
more than UAH 2 billion. At present, it is not possible to make a final assessment of the estimated 
value of destroyed industrial facilities, schools, banking institutions, etc. 
2.38.  Industrial production was affected the most by the destabilization of the situation in eastern 
Ukraine. In 2014, industrial production decreased by 10.1% (in 2013 - by 4.3%). In the Donetsk 
region industrial production it decreased 31.5%  and the Lugansk region it decreased by 42%. 
2.39.  Since January 2014, industrial production in Ukraine declined by 21.3% overall. Further 
since January 2015, the industrial crisis in the indust ry intensified and industrial production fell by 
4.2% in that period alone. In Donetsk and Lugansk regions, industrial production fell by 49.9%, and by 87%, respectively.  
2.40.  The mining industry was affected the most by the military conflict: in 2014, mining 
production declined by 13.7%. Most severely, coal mining volumes for the year decreased by 
30.5%. The deficit of local raw materials was one of the factors inhibiting the development of WT/BOP/G/21 
 
- 6 - 
 
  metallurgy, the manufacture of coke, the refinement of petroleum products, the supply of 
electricity and gas. 
2.41.  The decrease in production of the sect ors above accelerated towards the end of 2014. The 
only positive results at the end of 2014 were from operations in the food processing industry and 
in the production of beverages and tobacco (an in crease of 2.5%) and in the manufacture of basic 
pharmaceutical products and pharmaceutical preparations (an increase of 1.9%).  
2.42.  The agriculture sector has been slightly less affected. Favorable weather conditions in 2014 
led to a record harvest (since the official statis tics began). In 2014, there was a record yield of 
63.8 million tons vs. 62.3 million tons in 2013. As a consequence, agriculture in 2014, as it had in 2011-13, remained the main economic driver deli vering very positive results. The volume of 
agricultural production in 2014 increased by 2.8% (whereas the average growth for the period of 
2011-13 was 10%). 
2.43.  However, taking into account that a number  of agricultural enterprises in the Donetsk and 
Lugansk regions were closed, as well as the increased costs from decreased industrial activity and 
reduced consumer demand, the volume of agricultural production in January 2015 compared to 
January 2014 fell by 2.4%. In Donetsk region, the decrease of agricultural production was 26% and in Lugansk region it fell by 54.1%. 
3  ANALYSIS OF BALANCE OF PAYMENTS SITUATION 
3.1.  On the basis of these developments in 2014, the balance of payments was under 
considerable pressure – the balance of payments deficit amounted to US$13.3 billion. This was nearly the level experienced during the year 2009, which had been a crisis year for the Ukrainian 
economy. Deficit financing was done through the use of reserve assets which resulted in the 
reduction of international reserves to US$7.5 bi llion or 1.4 months of future imports. This 
downward trend continued in 2015: as of 01.03.2015, the reserves decreased to US$5.6 billion 
(see Annex 7 ). 
Chart 1 Current and financial accounts   Chart 2 International Reserves 
(US$ billion) 
9.4
-3.1
-13.75.0
-2.5
-4.22.0
-13.3-1.9-0.9
-20-15-10-505101520
2007
2008
20092010
2011
20122013
2014
Jan.2014Jan.2015Financial
account
Currentaccount
Overallbalance
  32.531.5
26.534.6
31.8
24.5
20.4
7.53.96.7
4.34.2
3.7
2.93.3
1.4
012345678
0510152025303540
2007 2008 2009 2010 2011 2012 2013 2014IMF loan, US$ bn. (LHS)
NIR, US$ bn. (LHS)
in months of future imports (RHS)  
Source: NBU.  Source: NBU. 
3.2.  In recent years, the current account deficit greatly exceeded the critical permissible limit 
(4-5% of GDP), which caused the accumulati on of large external sector imbalances. WT/BOP/G/21 
 
- 7 - 
 
  Chart 3 Current account balance Chart  Chart 4 Current account balance 
 (US$ billion) 
-5.3
-12.8-1.7-3.0
-10.2
-14.3
-16.5-5.2
-3.5
-6.8-1.4
-2.1
-6.1
-7.8
-8.7-4.0
-10-9-8-7-6-5-4-3-2-10
-20-18-16-14-12-10-8-6-4-20
2007 2008 2009 2010 2011 2012 2013 2014CA (US$ bn.)
CA ( % of GDP (RHS))critical level
 -5.272
-12.8-1.7
-3.0
-10.2
-14.3
-16.5-5.2-1.1
-15-10-505
-30-20-10010
2007 2008 2009 2010 2011 2012 2013 2014 2015Balance of Goods Balance of Services
Income (net) Transfers (net)
Current account balance Current account, % of GDP (RHS)( )
 
Source: NBU.  Source: NBU. 
3.1  Current account 
3.3.  The sharp decline in the deficit of the curre nt account to 4.1% of GDP in 2014 was due to the 
reduction of the imports of goods and services by 27% ( see Annex 8).  The decline in imports 
occurred in all product groups due to substantial reduction of domestic consumer and investment 
demand and the Hryvnia devaluation. Although th e rate of decline in imports in 2014 was much 
higher than the rate of decline of exports, the trade balance still remained negative. The supply of 
goods can mostly be attributed to the reduction of imports from the Russian Federation (overall, by 45.5%), and in particular, due to lower impo rts of gas (by 63.1%). Imports share from the 
Russian Federation decreased to 20.6% (from 27. 4% in 2013), while the imports share from the 
EU increased to 32.4% (from 30.2% in 2013) ( see Annex 9).  
Chart 5 Trade Balance and REER  Ch art 6 Import structure by regions 
 (%) 
93.598.3
82.786.4
85.587.0
83.0
66.9-10.6
-16.1-4.3
-8.4
-16.3
-19.5-20.0-6.1
-25-20-15-10-50
60708090100110
2007 2008 2009 2010 2011 2012 2013 2014REER, 12.2000=100 (LHs.)
Trade balance, US$ bn.
 
37.133.331.934.517.016.713.9 15.5
0102030405060708090100
2013 2014CIS Europe Asia other 
Source: NBU. Source: SSS. 
3.4.  The biggest imports share of goods is in the category of mineral products, specifically mineral 
fuels. However, the gradual reduction of the in tensive use of energy in the Ukrainian economy 
cause these imports to decline from 32.4 % in 2010 to 24.5% in 2014. The contraction of 
domestic investment demand in 2013-14 resulted, for the period of 2012-14, in a decrease of machinery products imports by two times. Specifically, their share of imports decreased from 25% 
in 2012 to 19.5% in 2014. Due to the decline in consumer demand, imports of agricultural goods, 
industrial products, and cars in 2014 declined by 26.2%, 28.6% and 2.5 times, respectively (see Annex 10).  WT/BOP/G/21 
 
- 8 - 
 
  Chart 7 Import structure  Chart 8 Merchandise imports change in 2014 
(%)  (US$ billion) 
9.57.4 8.4 9.6 9.832.433.229.225.0 24.520.9 23.425.0
22.919.537.2 36.1 37.4
42.546.2
0102030405060708090100
2010 2011 2012 2013 2014other
machinery
mineral products
food products
-38 %-33 %-20 %-28 %-26 %-29 %
-8 -7 -6 -5 -4 -3 -2 -1 0 1machinery and equipmentmetallurgical productschemicalsmineralsagricultural productsindustrial goods
 
Source: NBU. Source: NBU. 
3.5.  The positive effect on Ukraine's current account of the reduction of imports in 2014 was 
largely negated by the decline in exports of good s and services of 19.5%. This decline was due to 
non-economic factors: trade barriers imposed by th e Russian Federation, the decline in production, 
and therefore, export capacity due to the military  conflict in the Eastern Ukraine, and the trade 
effects of the temporary occupation of Crimea. An additional factor was the decline in the export of 
major products in world markets, in particular, in metals and ores and a simultaneous decline in 
global prices for these goods. Thus, despite the devaluation of the Hryvnia, Ukrainian exporters did not see a net gain from any competitive advantage that the devalued currency could have created. 
3.6.  In 2014 there were changes in the structure of exports of goods in terms of the commodities 
traded as well as the geographic destination of those goods. Due to trade liberalization with the 
EU, Ukraine's volume of exports to the EU co untries increased by 2.1%. The EU's share of 
Ukraine's total global exports of goods increased to 30.6%. That is compared with 25.8% in 2013 
and 24% on average for the period of 2008-13. However, trade restrictions imposed by the 
Russian Federation caused the decrease of expo rts to Russia by 34.8%, and Russia's overall share 
of Ukraine's total global exports fell to  17.7% as compared to 23.2% in 2013 ( see Annex 11).  
Chart 9 Export of ferrous metals and grai ns  Chart 10 Export structure by regions 
 (%) 
541668600
540
525
177256 258235
201
05101520253035
0100200300400500600700
2010 р. 2011 р. 2012 р. 2013 р. 2014 р.
Ferrous metals, mn.t Grains, mn.t
Ferrous metals, US$/t. LHs Grains, US$/t. LHs
35.8
28.726.3
31.025.927.712.1 12.6
0102030405060708090100
2013 2014CIS Europe Asia other  
  Source: SSS. 
3.7.  The category of goods that saw the lowest reduction in exports was agricultural goods (2%). 
Ukrainian exports to EU countries of these produc ts increased by 6.4%. Thus, the share of food 
products exports in 2014 exceeded the share of the other major export group, ferrous metals. The WT/BOP/G/21 
 
- 9 - 
 
  steady increase in the share of agricultural export s was due to the increase of the supply of cereals 
owing to a record harvest during the preceding ye ars. The largest decrease occurred in machinery 
exports, especially rail transport equipmen t which was traditionally exported to the 
Russian Federation and now are banned by the RF. There was also a reduction in the exports of 
steel products. As described earlier, the steel indust ry is located in the area of the military conflict 
and suffered a significant reduction in output ( see Annex 12 ). 
Chart 11 Export structure  Chart 12 Merchandise exports change in 
 2014 
(%)  (US$ billion) 
19.0 18.425.5 26.230.133.231.926.9 27.027.517.617.118.9 16.313.530.232.628.7 30.4 28.9
0102030405060708090100
2010 2011 2012 2013 2014other
machinery
metallurgy
food products
-29 %-13 %-26 %-19 %-2 %-8 %
-8 -7 -6 -5 -4 -3 -2 -1 0 1machinery and equipmentmetallurgical productschemicalsmineralsagricultural productsindustrial goods
 
Source: NBU.  Source: NBU.  
3.8.  In 2014, there also was a sharp reduction in Ukraine’s trade balance surplus for services due 
t o  a  d e c r e a s e  o f  i n c o m e  f r o m  t o u r i s m .  T h e  n u m b e r  o f  v i s i t o r s  t o  U k r a i n e  r a p i d l y  d e c l i n e d  b y  
two times, especially visitors from the Russian Federation. Ukraine also saw a 28% loss in 
revenues from transportation as a result of the destruction of infrastructure in the eastern part of the country, the decrease in overall economic activity, and the decrease in the gas transit 
(see Annex 8 ). 
Chart 13 Balance of servic es  Chart 14 Services 
(US$ billion)  (US$ billion) 
1418
1417192020
13
1216
1213131516
12
2.4 1.7 2.44.46.1
5.24.4
0.7
0510152025
2007 2008 2009 2010 2011 2012 2013 2014export of services import of services balance of services  2.4
1.7 2.44.46.1
5.2
4.4
0.7
-4.0-2.00.02.04.06.08.0
2007 2008 2009 2010 2011 2012 2013 2014Transportation Travels
Others Balance of services  
Source: NBU.  
3.9.  In 2014, Ukraine's surplus in the category of "transfers" also decreased  due to the reduction 
of remittances to Ukraine by 23.2%, which was primarily a reduction of remittances from the 
Russian Federation. However, the negative balance in the category of "income" decreased due to reduced dividend payments from foreign direct investments (by 69.1%) which was connected to the economic recession and the Hryvnia devaluation. WT/BOP/G/21 
 
- 10 - 
 
  Chart 15 Remittances in Ukraine  Chart 16 Repayments of investment 
 income 
(US$ billion)  (US$ billion) 
3.0 2.93.44.04.65.7
4.43.2
2.52.53.02.92.9
2.26.2
5.45.97.07.58.5
6.6
0246810
2008 2009 2010 2011 2012 2013 2014Wages Private transfers
 1.22.5 2.52.24.14.8 5.0
1.61.01.2 1.11.11.51.42.1
2.22.23.3 3.43.43.73.83.7
2.34.36.9
7.06.79.310.010.8
6.1
0.02.04.06.08.010.012.0
2007 2008 2009 2010 2011 2012 2013 2014foreign direct investments portfolio investments
others Investment income (debit)  
Source: NBU. 
3.2  Financial and capital account 
3.10.  In 2014 there was a reversal of capital flows in the financial account.  Opportunities for 
attracting foreign capital are severely constrained by the instability created by the military conflict. 
Therefore, in 2014, for the first time during the last five years, Ukraine experienced a deficit in its 
capital and financial account of US$8.1 billion ( see Annex 8 ). Due to the deteriorating investment 
climate, net public sector loans and bonds totalling US$3.2 billion did not cover the outflow of private sector funds which was –US$5.2 billion). Th e rollover of private sector external liabilities 
fell to 86 %, primarily due to the low rollover of the real sector (64%), which decreased for the 
first time more than 100% since the crisis of 2009. 
3.11.  The public sector has attracted loans and macro-financial assistance from the EU 
(EUR 1.6 billion), the World Bank (US$1.3 billion),  Canada (US$0.2 billion US Dollars), and Japan 
(US$0.1 billion) and has issued Eurobonds under a Government guarantee for US$1 billion. 
Chart 17 Financial and capital account  Chart 18 Rollover on external liabilities 
 of the private sector 
(US$ billion)  (%) 
14.7
9.7
-12.08.0
7.810.118.5
-8.1
-20-10010203040
2007 2008 2009 2010 2011 2012 2013 2014bonds and loans of private sector (net)
bonds and loans of public sector (net)
FDI (net)
other capital (net)
 financial account balance
76867882879297124139144
106
648299107112
97
86
0100
2009 2010 2011 2012 2013 2014
Banks Real sector Total 
Source: NBU.  Source: NBU. 
3.12.  Net FDI inflows were the lowest since 2006 (US$0.4 billion). In addition, in 2014, Ukraine 
had to make significant debt repayment of trade credits of US$3.6 billion during 9 months and a 
US$3.1 billion repayment of Ukrainian National Joint Stock Company "Naftogaz" in the fourth quarter. WT/BOP/G/21 
 
- 11 - 
 
  3.13.  The growth in the trend of maintainin g currency outside of banks continued (reaching 
US$2.6 bln) due to high expectations about further devaluation of the Hryvnia. Policy support for the fixed exchange rate of the Hryvnia in 2010-13 and at the beginning of 2014 caused the accumulation of large imbalances that resulted into increased demand for foreign currency. 
Chart 19 Foreign direct investment  Ch art 20 Foreign cash holdings outside 
 banks 
(US$ billion)  (US$ billion) 
9.9
4.75.87.07.2
4.1
0.4
-2024681012
2008 2009 2010 2011 2012 2013 2014in Ukraine abroad net FDI
 13.512.9
9.7
5.611.4
8.0
2.7 2.65.15.28.1 8.0 8.08.1
8.212.2
02468101214
02468101214
2007 2008 2009 2010 2011 2012 2013 2014accumulation of foreign cash holdings outside banks
exchange rate on the cash market, UAH/USD (RHS)  
Source: NBU. Source: NBU. 
3.3  External debt 
3.14.  According to the NBU the external debt as of the end of 2014 amounted to US$126,3 billion, 
having decreased by US$15,8 billion since the beginning of 2014. Financial and corporate sectors 
reduced their external liabilities by US$19,1billion,  but public debt grew by US$3,4 billion as a 
result of borrowings from the international financial institutions ( see Annex 13 ). 
Chart 21 Gross external debt (eop) 
(US$ billion) 
101.7103.4117.3126.2134.6142.1135.9
020406080100120140
2008 2009 2010 2011 2012 2013 3Q2014other sectors banks Gov. and NBU  
Source: NBU.  
3.4  Balance of payments forecast for 2015 
3.15.  In 2015, Ukraine expects to further reduce its current account deficit to 1-2 % of GDP. This 
is due to reduced imports caused by the decline in domestic demand and currency devaluation. 
However, despite the positive impact of increased price competitiveness of Ukrainian goods, exports continue to decline due to a number of such factors:  WT/BOP/G/21 
 
- 12 - 
 
   the military conflict in the eastern part of the country and restrictive trade measures 
applied by the Russian Federation;  
 current downward trend in world prices for metals and ores; 
 
 Ukraine's continuing high dependence on imported raw materials; and 
 
 increasing competition in foreign markets. 
 3.16.  In 2015, the repayment of financial account surplus is forecasted, despite the low rollover on external liabilities of the private sector, which is expected to be at 2014. Net FDI is forecasted 
t o  i n c r e a s e  to  1 . 2 %  o f  G D P .  I n  a d d i t i o n ,  f u r t her outflows of currency outside of banks are not 
expected and repayment of trade credits. In addition, the IMF's (Extended Fund Facility) is expected to attract official financing from many other international organizations and countries. 
Chart 22 Current account balance  Ch art 23 Capital and financial account 
(US$ billion)  (US$ billion) 
-5.272
-12.8-1.7
-3.0
-10.2
-14.3
-16.5-5.2-1.1
-15-10-505
-30-20-10010
2007 2008 2009 2010 2011 2012 2013 2014 2015
Balance of Goods Balance of Services
Income (net) Transfers (net)
Current account balance Current account, % of GDP (RHS)( )
 -20-100102030
2007 2008 2009 2010 2011 2012 2013 2014 2015FDI (net)
Bonds and loans (net)
Other capital (net)
Balance
 
Source: NBU.  Source: NBU. 
3.17.  However, the potential outflow of foreign currency to cover debt remains high. Thus, 
Ukraine expects to only make scheduled payments in foreign currency on foreign debt to non-residents in 2015 as follows: US$8.2 billion for the banking sector and US$14.0 billion for the 
corporate sector, excluding US$8.3 billion for the public sector.  
4  DOMESTIC POLICY MEASURES TAKEN IN ORDER TO RESTORE EQUILIBRIUM ON A 
SOUND AND LASTING BASIS 
4.1  Public finances improvement 
4.1.  The main parameters of the State Budget of Ukraine for 2015 include: 
 State revenues amounting to 502.3 billion Hryvnia, including revenues of the State 
Budget of Ukraine of 474.8 billion Hryvnia and revenues of the special fund of the 
State Budget of Ukraine of 27.5 billion Hryvnia; 
 
 Government expenditures amounting to 566.9 billion Hryvnia, including expenditures 
of the State Budget of Ukraine of 537.7 billio n Hryvnia and expenditures of the special 
fund of the State Budget of Ukraine of 29.3 billion Hryvnia;  
 The amount of loan repayments to the state budget amounting to 4,8 billion Hryvnia 
and the amount of loans from the state bu dget amounting to 16.0 billion Hryvnia; 
 
 Limiting the amount of government deficits amounting to 75.8 billion Government 
debt limit of 1394.4 billion Hryvnia. The volume of loans totalling 397.4 billion 
Hryvnia, repayment of 251.6 billion Hryvnia. The costs of servicing public debt is 92.7 billion Hryvnia. 
 WT/BOP/G/21 
 
- 13 - 
 
  4.2.  In order to improve its public finances, Ukraine is taking steps to increase revenues and 
reduce expenditures of the State Budget. 
4.3.  Amendments of the State Budget of Uk raine were based on revised macroeconomic 
indicators, in particular:  
 the exchange rate of the national currency; 
 the National Bank of Ukraine's discount rate of 30%; 
 the results of negotiations with the IMF on the adoption of a new cooperation program 
(increase in tariffs for natural gas, hot water and heating). 
 4.4.  Based on the factors above, forecasted increases in revenues of the State budget are based on: VAT; the rental fee and the fee for the other natural resources use; the transportation rent; 
charges for fuel and energy resources; import duty; and the corporate profit tax. Cost reductions 
are being made in the State budget in terms of a reduction of spending on education subsidies, 
grants for training labor, medical grants, and transfers to the Pension Fund. 
4.2  Structural reforms 
4.5.  Tax reform.  To improve the business environment, Ukraine took measures to reduce 
corporate costs for tax accounting and government spending on tax administration. It reduced the 
tax burden, in particular, the number of taxes were reduced from 22 to 11. It conducted fiscal 
decentralization (increasing the financial capacity of  local budgets), improved the principles for the 
control of transfer pricing. 
4.6.  Creating a favorable business climate. To move towards deregulation and create a 
favorable business climate, the Government of  Ukraine identified the following immediate 
priorities:  
 trade and export promotion, 
 deregulation and improvement of the business environment,  
 attracting investment,  
 reducing the role of regulatory and supervisory authorities, and 
 waging a systematic fight against corruption. 
 4.7.  Reform of the energy sector.  The Government of Ukraine is taking measures to ensure the 
transition to a more energy-efficient economy, including energy-savings and the reduction of 
energy consumption with the introduction of innovative technologies that will reduce the energy 
intensity of its GDP. It is implementing Government policies aimed at ensuring Ukraine's energy independence, the diversification of its energy supply, the introduction of market rates in energy 
sector, and the reform of subsidies in this area.  
4.8.  The reform of public enterprises an d privatization of state property.  In order to 
reform the public sector of the economy and to  make it more effective, the Government is 
conducting a large-scale and transparent privatiz ation of state property, it is conducting an 
international audit of public companies, and it is implementing programs to ensure the effectiveness of strategic state property. 
4.9.  Strengthening macroeconomic financial stability. The Government is strengthening 
macroeconomic financial stability by: (1) restoring price stability; and (2) improving the financial 
condition of the banking system through recapitalization, the reduction of loans to related parties, and the reduction of problem assets. These measures will provide a stable macroeconomic 
environment and credit support from the bank ing system, which are preconditions for the 
competitiveness of Ukrainian business in the world. WT/BOP/G/21 
 
- 14 - 
 
  5  DESCRIPTION OF THE RESTRICTIONS APPLIED FOR BALANCE OF PAYMENTS 
PURPOSES, THEIR LEGAL BASIS, AND STEPS TO REDUCE INCIDENTAL PROTECTIVE EFFECTS 
5.1.  The accumulation of a number of macroeco nomic imbalances, problems attracting private 
sector external financing, and limitations on export growth due to instability stemming from the 
military conflict have significantly influenced Ukraine’s balance of payments. 
5.2.  In connection with the balance of payments problem, the Verkhovna Rada of Ukraine has 
adopted the Law of Ukraine "On measures concerning stabilization of the balance of payments of 
Ukraine in compliance with Article XII of the General Agreement on Tariffs and Trade 1994" 
(hereinafter - the Law of Ukraine). 
5.3.  On 25 February 2015, this law came into forc e (according to the Resolution of the Cabinet of 
Ministers of Ukraine as of 16.02.2015 № 119-r). 
5.4.  This law was developed in accordance wi th the provisions of Article XII GATT 1994 and the 
Understanding on Balance-of-Payments Provisions of the GATT 1994. 
5.5.  This law aims at setting temporarily, for a period of 12 months, an import surcharge on 
goods imported into the customs territory of Ukraine under the customs regime of import, 
regardless of the country of origin of such good s or free trade agreements (treaties) signed by 
Ukraine.  
5.6.  The goods subject to import surcharge ar e those imported into the customs territory of 
Ukraine, the customs value of which exceeds the equivalent of EUR 150.  
5.7.  The base on which the import surcharge will be assessed is the customs value of goods 
imported into the customs territory of Ukraine. 
5.8.  The import charge is levied at the following rates: 
 10% for goods classified in Chapters 1-24 (HS2012); 
 5% for goods classified in Chapters 25-97 (HS2012); 
 10% for all goods imported (brought) by persons into the customs territory of 
Ukraine. 
 
5.9.  The import surcharge is not imposed on essential goods  that are imported to the customs 
territory of Ukraine, in particular: 
 oil classified in subheading 2709 00 9000 (HS2012); 
 natural gas classified in subheadings 2711 11 0000 and 2711 21 0000 (HS2012); 
 non-irradiated fuel elements (FE), classified in subheading 8401 30 0000 (HS2012); 
 electrical energy, classified in subheading 2716 00 00 00 (HS2012); 
 coal classified in subheadings 2701 110000, 2701 121000, 2701 129000, 2701 
190000, 2704 001900, 2 704 003000, 2708 200000, 2713 11 0000, 2713 120000 
(HS2012); 
 gasoline, mazout (residual fuel oil), and di esel fuel classified in subheading 2710 
(HS2012), except subheadings 2710 91 00 00 and 2710 99 00 00; 
 medical devices for hemodialysis and treatment of cancer patients (according to the 
Resolution of the Cabinet of Minister s of Ukraine as of 16.02.2015 No.63), 
pharmaceutical products and compounds for their production, that are not produced in 
Ukraine, classified in Chapters 28, 29, (H S2012) (according to the Resolution of the 
Cabinet of Ministers of Ukraine as of 17 November 2004 р. No.1568); 
 goods donated free of charge to Ukraine by other governments or international 
organizations and goods imported into the customs territory of Ukraine within the framework of international technical assistance under international 
(intergovernmental) agreements ratified  by the Verkhovna Rada of Ukraine; 
 goods that are imported into the customs territory of Ukraine within the framework of 
international technical assistance projects such as: the G8 initiative "Global Partnership Against the Spread of Weapons and Materials of Mass Destruction"; the WT/BOP/G/21 
 
- 15 - 
 
  decommissioning of the Chernobyl Nuclear Po wer Plant and the transformation of the 
"Shelter" into an ecologically safe system; 
 humanitarian or charity assistance and goods imported by the Red Cross Society of 
Ukraine; 
 goods paid for by grants provided under the Global Fund to Fight AIDS, Tuberculosis 
and Malaria in Ukraine; 
 
5.10.  A detailed list of goods by HS code is supplied in Annex 14.1 
5.1  Justification for the import surcharge im position and the period of its application 
5.11.  The key aim of introducing an import surc harge is the improvement of balance of payments. 
The surcharge was applied to improve the state of international reserves of the National Bank of 
Ukraine and to help forestall a further serious reduction in monetary reserves. 
5.12.  The theory of supply and demand was used as the basis for calculating e the rate of the 
import surcharges and the duration of their validity. 
5.13.  The implementation of the import surcharge will reduce the overall rate of imports, affecting 
the balance of payments. It will also create a redistributive effect, i.e., with the increasing cost of imported goods, consumer demand will be reoriented to domestically-produced goods. In turn, the 
increased demand for domestic products, will affect the growth of domestic production in related 
industries. Though, it was also considered that the effective stimulation of domestic production is only possible with import surcharge imposed for a period from 6 months to one year. 
5.14.  Calculations show that the introduction of import surcharge for the period specified will not 
cause a significant increase in domestic prices and will not negatively impact a domestic demand, 
which, in turn, will provide an opportunity to intensify domestic production, increase GDP and improve the balance of payments. 
5.2  Estimated effect from an import surcha rge and the impact of measures on domestic 
producers 
5.15.  The estimated effects from an import surc harge were based on the following information: 
 increase in the value of imports of agricultural products for HS Chapters 1-24 to 10%; 
 increase in the value of imports of industrial goods for HS Chapters 25-97 to 5%; 
 data provided by the State Statistics Service of Ukraine on the volume of imports to 
Ukraine in 2014 of goods, except for essential goods such as coal, oil, petroleum 
products (gasoline, diesel), natural gas, non-irradiated fuel elements (cartridges ), 
and electricity; and 
 forecasts of total imports of goods in 2015. 
 
5.16.  During the calculations, it was also assumed that by introducing of temporary import surcharge, imports will partly decrease due to the increase in the cost of goods and the 
reorientation of consumer demand for cheaper products, particularly for domestically-produced 
goods. The structure of imports was also a factor in determining the level of rates of the import 
surcharge. The results of the calculations predicte d that the decrease in imports of goods from the 
introduction of import surcharge will be approximately US$1.25 billion, specifically, a 
US$0.25 billion reduction in imports of agricultur al products and a US$1 billion reduction in 
imports of industrial products. Accordingly, an increase in GDP as a whole is estimated at about 1 percentage point. 
5.17.  Thus, introducing of temporary import surcharge for all imported goods (other than certain 
essential goods) will have additional positive impact on the economic growth of Ukraine, namely an increase in demand for domestic products through the reorientation of consumer demand, 
leading to an increase in domestic production. 
                                               
1 Viewed at: http://members.wto.org/crnatta chments/2015/BOP/UKR/15_1403_00_e.xlsx . WT/BOP/G/21 
 
- 16 - 
 
  5.18.  It should be noted that imported agricultural products and industrial products have different 
conditions in the domestic market. Thus, domestic agricultural production now fully satisfies domestic needs and the supply is increasingly used for export. The share of imported products that are used as inputs into further production of other products is 8% overall, and is 13.2% in the 
case of manufacturers of food, beverages and to bacco products. Introduction of an additional 
import surcharge may have some restrictive effect on the confectionery industry, brewing industry and the tobacco manufacturers, but will have a positive effect and stimulate the production of 
meat and dairy products. 
5.19.  In industrial production as a whole, the sh are of imported products that are used as inputs 
into the production of other goods  is quite si gnificant, 41.5% overall. For the production of 
chemicals and chemical products, the share is 75%, for the production of textiles, clothing, 
leather, leather goods and other materials the shar e is 63%, for the producti on of coke and refined 
petroleum products the share is 56% (petroleum products), for the manufacture of electrical equipment the share is 51%, for the manufacture  of rubber and plastic products and other 
non-metallic mineral products the share is 35%.  
5.3  Legal framework and the steps taken for reduce adverse affect of implementing the 
import surcharge 
5.20.  The import surcharge was introduced by the Law of Ukraine "On measures concerning 
stabilization of the balance of payments of Ukrain e in compliance with Article XII of the General 
Agreement on Tariffs and Trade 1994" of 28 De cember 2014 No.73-VIII and the Law of Ukraine 
"On Amending the Customs Code of Ukraine (concerning stabilization of the balance of payments)" 
of 28 December 2014 No.74-VIII.  
5.21.  The legal basis for the introduction of the import surcharge is Article XII of the General 
Agreement on Tariffs and Trade 1994 (hereinafter  - the GATT 1994) and the Understanding on the 
Balance of Payments Provisions of the GATT 1994, (hereafter – "the Understanding"). 
5.22.  Pursuant to paragraph 9 of the Understanding, in WTO document WT/BOP/N/78 of 
21.01.2015, Ukraine notified measures in connection with the balance of payments and its 
readiness for starting consultations with the Committee on Balance-of-Payments Restrictions in 
accordance with Article XII of GATT 1994. 
5.23.  Part one of Article XII of GATT 1994 is an exception to the general provisions of the 
GATT 1994 and provides for the right of the Member  to safeguard its external financial position 
and its balance of payments by restricting the quan tity or value of imported goods. Pursuant to 
that, it should be noted that the Law "On measures concerning stabilization of the balance of payments of Ukraine in compliance with Article X II of the General Agreement on Tariffs and Trade 
1994" provides for the temporarily introduction of price measure in the form of import surcharge 
at rates that are not prohibitive . 
5.24.  Article XII:2(a) of GATT 1994 established that import restrictions instituted, maintained or 
intensified by a Member shall not exceed those necessary:  
 to forestall the imminent threat of, or to stop, a serious decline in its monetary 
reserves;  
 in the case of a party with very low moneta ry reserves, to achieve a reasonable rate 
of increase in its reserves. 
 5.25.  Ukraine has taken the decision to introduce the import surcharge based on data from the 
National Bank of Ukraine and the Ministry of Fi nance of Ukraine, which describe the increasingly 
negative trends in the foreign exchange market and the financial sector, macroeconomic uncertainty, the reduction of Ukraine's investment rating, and the deteriorating economic situation 
in the country as a whole. 
5.26.  Such measures were applied to improve the state of international reserves of the National 
Bank of Ukraine and to help forestall a further se rious reduction in monetary reserves, as well to 
restore the balance of payments. WT/BOP/G/21 
 
- 17 - 
 
  5.27.  At the same time, the measures imposed by Ukraine do not exceed the level necessary to 
achieve these goals. That is, the introduction of  10% import surcharge for agricultural products 
and foodstuffs and 5% import surcharge on indust rial  g ood s , w il l  have  n o d ire c t i mp ac t on the 
price increase. 
5.28.  Thus, as provided in paragraph 4 of the Understanding, Ukraine's introduction of a 
surcharge in relation to its balance of payments recognizes that the surcharge applies only to regulate the total level of imports and will not ex ceed the extent that is necessary to resolve the 
balance of payments situation. 
5.29.  It should be noted that that the introducti on of the import surcharge is only one of the of 
the internal policy measures being taken by Ukrain e to restore its balance of payments on a sound 
and lasting basis. 
5.30.  While the introduction of the import surcharge is essential to restore the balance of 
payments of the Government, Ukraine is taking addi tional measures to achieve this goal. In this 
context, Ukraine has undertaken the following additional initiatives such as:  
 encouraging and increasing production, 
 promoting export and investments into productive activities, 
 strengthening macroeconomic financial stability by improving the financial condition of 
the banking system,  
 changing legislation to minimize the risk of the financial system of the country and 
eliminating unfair business practices by monetary market participants, 
 increasing the capitalization of banks, 
 protecting the interests of depositors and creditors of banks, and 
 establishing effective risk management mechanisms. 
 
5.31.  At the same time, the Government is monitoring closely special factors that may affect the 
reserves of Ukraine, such as the use of special external loans and other resources. 
5.32.  Subject to the provisions of Article XII:3(b) of GATT 1994 and paragraph 4 of the 
Understanding, the Law of Ukraine "On measures concerning stabilization of the balance of 
payments of Ukraine in compliance with Article X II of the General Agreement on Tariffs and Trade 
1994," Article 5 contains a list of essential goods that are exempt from the import surcharge. The list of such goods is provided in Annex 14.
2 
5.33.  In view of the provisions of Article XII:2( b) GATT 1994, the introduction of import surcharge 
is provided temporarily for a period of 12 months. 
5.34.  Thus, it should be emphasized that the me asure is temporary with the possibility of gradual 
liberalization provided to improve the balance of payments situation. 
5.35.  The Understanding does not set requirements for the level of import surcharge rates. As 
previously mentioned, in determining the specific import surcharge rates and the duration of their 
validity the theory of supply and demand was us ed as a basis for calculations. The different 
domestic conditions for imported agricultural and industrial products were also considered. 
5.36.  Summing up, the introduction of an additional import surcharge as a way to restore the 
balance of payments is conducted in accordance with the provisions of Article XII of GATT 1994 
and the Understanding. 
6  CONDITIONS FOR THE RELAXATION  AND TERMINATION OF THE MEASURE 
6.1.  The accumulation of a number of macroeconomic imbalances, problems with attracting of 
external financial resources by private sector, and limited export prospects due to instability 
created by the military conflict , significantly influenced Ukraine's balance of payments. The 
introduction of import surcharge will reduce non-energy imports and thus, will help lead to an 
equilibration of the balance of payments. 
                                               
2 Viewed at: http://members.wto.org/crnatta chments/2015/BOP/UKR/15_1403_00_e.xlsx . WT/BOP/G/21 
 
- 18 - 
 
  6.2.  Provided that the effect of the import surcharge will be seen in the second quarter 2015, it is 
expected to reduce imports by about US$250-300 million in a quarter of a year. It is estimated that in 2015, the effect from the introduced import surcharge may be US$0.8 billion. In addition, the increased supply by domestic manufacturers will increase in GDP by 1%. 
Chart 24 Import of goods fore cast  Chart 25 Trade balance 
(US$ billion)  (US$ billion) 
00.10.20.30.40.5
101112131415
I.2015 II.2015 III.2015 IV.2015Import duties effect (RHs)
Imports without import duties
Imports after import duties implementation
 -25-20-15-10-50
2012 2013 2014 2015Import duties effect:
US$0.8 bn. 
 
Source: NBU estimations.  Source: NBU estimations. 
6.3.  Based on the factors above, it is important to emphasize that the import surcharge is a 
price-based temporary measure for a period of 12 months, set at a non-prohibitive rates. If the situation with the balance of payments is improv ed by the end of 2015, and the equilibrium of the 
balance of payments is restored to at least the level of 2013, Ukraine does not exclude the 
possibility of removing the surcharge before end of the 12 month period. 
 
_______________ 
 WT/BOP/G/21 
 
- 19 - 
 
  ANNEXES 
Annex 1. Gross domestic product 
Annex 2. Consumer price index Annex 3. Official exchange ra te of Hryvnia to US Dollars 
Annex 4. Income of Households 
Annex 5. Expenditure and Saving of Households Annex 6. E xport, import and production of energy resources in 2013-14 
Annex 7. International reserves of Ukraine  
Annex 8. Ukraine's ba lance of payments 
Annex 9. Geographical structure of impo rt of goods into Ukraine in 2013-14 
Annex 10. Structure of imports of  goods into Ukraine in 2013-14 
Annex 11. Geographical structure of expo rts of goods from Ukraine in 2013-14  
Annex 12. Structure of exports of goods from Ukraine in 2013-14  
Annex 13. Gross external debt position of Ukraine 
Annex 14. List of goods subject to import surcharge and exemptions (essential goods).
1 
  
                                               
1 Viewed at: http://members.wto.org/crnatta chments/2015/BOP/UKR/15_1403_00_e.xlsx . WT/BOP/G/21 
 
- 20 - 
 
  ANNEX 1  
Gross Domestic Product 
 GDP at current prices, 
Hryvnia million At constant prices of 2010, in % over previous yeara 
volume index of GDP deflator of GDP 
2010 1 079 346 104,1 113,7 
2011 1 299 991 105,5 114,2 
2012 1 404 669 100,2 107,8 
2013 1 465 198 100,0 104,3 
2014a 1 566 728 93,2 114,8 
a Except temporarily occupied Autonomous Republic of Crimea. 
ANNEX 2 
Consumer price index  
 Consumer Price Index 
December to December of previous year to previous year 
2008 122,3 125,2 
2009 112,3 115,9 
2010 109,1 109,4 
2011 104,6 108,0 
2012 99,8 100,6 
2013 100,5 99,7 
2014a 124,9 112,1 
a Except temporarily occupied Autonomous Republic of Crimea. 
 
 
ANNEX 3 
Official exchange rate of Hryvnia to US Dollars  
 2011 2012 2013 2014 2015 
January February  
US$100 796.76 799.10 799.30 1188.67 1581.27 2447.99 
 
  
  WT/BOP/G/21  
 
- 21 - ANNEX 4 
Income of Households  
(Mln Hryvnia)  
  Total Wages and 
salaries Operating 
surplus, mixed 
income  Property 
income 
(receivable)  Social benefits 
and other current  
transfers 
receivable  including: Disposable income 
social 
benefits  other current 
transfers social transfers  
in kind  total per capita, 
Hryvnia 
2010     
І Quarter 228 598 94 829 24 832  14 773 94 164 53 491 … … 172 959 3 771
ІІ Quarter 266 506 110 448 33 188  14 618 108 252 61 448 … … 202 906 4 423
ІІІ Quarter 288 388 114 112 56 039  15 647 102 590 60 510 … … 228 554 4 983
IV Quarter 317 683 130 164 45 966  22 818 118 735 61 764 … … 243 530 5 309
2011 *              
І Quarter 265 528 112 719 30 589  14 807 107 413 62 179 6 875 38 359 200 898 4 391
ІІ Quarter 299 957 127 616 38 589  14 690 119 062 67 193 8 087 43 782 228 937 5 007
ІІІ Quarter 328 461 130 999 71 585  15 676 110 201 67 050 8 735 34 416 265 939 5 816
IV Quarter 357 059 149 732 57 749  22 886 126 692 66 322 9 984 50 386 275 457 6 027
2012 *              
І Quarter 296 569 130 089 32 424  14 925 119 131 67 226 6 977 44 928 223 807 4 907
ІІ Quarter 345 295 147 339 43 569  16 694 137 693 76 341 10 040 51 312 263 130 5 771
ІІІ Quarter 371 244 147 902 73 956  19 692 129 694 79 819 7 936 41 939 298 764 6 552
IV Quarter 394 089 167 883 62 471  23 309 140 426 77 658 8 416 54 352 305 399 6 698
2013*             
І Quarter 329 252 141 021 36 157  15 686 136 388 78 828 10 052 47 508 251 242 5 518
ІІ Quarter 372 030 157 970 50 676  17 069 146 315 81 063 11 248 54 004 283 738 6 234
ІІІ Quarter 394 857 156 712 80 568  19 427 138 150 81 335 13 911 42 904 315 703 6 938
IV Quarter 433 267 178 034 73 470  27 035 154 728 82 621 16 680 55 427 339 668 7 467
2014*             
І Quarter 340 783 144 572 39 307  18 051 138 853 81 870 11 487 45 496 260 362 5 735
ІІ Quarter 385 347 157 059 54 482  21 977 151 829 83 231 14 150 54 448 296 949 6 901
ІІІ Quarter 396 760 158 911 83 696  23 516 130 637 73 057 16 884 40 696 318 382 7 400
Since ІІ quarter 2014 data are presented except the temporarily occupied territories of the Autonomous Republic of Crimea.  
  WT/BOP/G/21  
 
- 22 - ANNEX 5 
Expenditure and Saving of Households  
(Mln Hryvnia)  
  Total Procurement  
of goods and  
services Property 
income 
(payable)  Current 
taxes on 
income, 
wealth 
and 
other 
payable 
current 
transfers  including: 
Accumulation  
of 
nonfinancial 
assets Increase  
of 
financial  
assets of which: 
Saving  Expenditure current  
taxes 
on 
income,  
wealth,  
etc. social 
contributions  other 
current 
transfers  increase 
of money  
deposits 
and 
saving in 
securities  saving in  
foreign 
exchange  loans, 
receivable  
excluding  
the 
payable 
2011*                  
І Quarter 265 528 220 606 7 920 18 351 12 940 3 112 2 299 180 18 471 13 417 18 734 -1 989 18 651  246 877 
ІІ Quarter 299 957 249 075 6 550 20 688 15 141 3 330 2 217 -1 144 24 788 15 398 17 568 884 23 644  276 313 
ІІІ Quarter 328 461 265 836 6 761 21 345 15 545 3 490 2 310 18 212 16 307 4 525 22 398 -1 037 34 519  293 942 
IV Quarter  357 059 288 732 7 822 23 394 17 060 3 888 2 446 13 608 23 503 8 778 23 817 -6 172 37 111  319 948 
2012*                             
І Quarter 296 569 255 392 6 832 21 002 15 076 3 440 2 486 -111 13 454 16 247 9 722 -6 420 13 343  283 226 
ІІ Quarter 345 295 290 323 7 139 23 714 17 178 3 751 2 785 221 23 898 21 236 3 228 -5 096 24 119  321 176 
ІІІ Quarter 371 244 305 519 6 253 24 288 17 386 3 825 3 077 13 728 21 456 11 965 21 755 -609 35 184  336 060 
IV Quarter  394 089 327 837 7 793 26 545 19 076 3 940 3 529 4 687 27 227 18 344 23 228 -1 417 31 914  362 175 
2013*                             
І Quarter 329 252 270 355 7 261 23 241 16 143 3 834 3 264 381 28 014 23 878 1 015 791 28 395  300 857 
ІІ Quarter 372 030 313 709 7 610 26 678 18 156 4 181 4 341 2 015 22 018 33 764 -1 814 1 596 24 033  347 997 
ІІІ Quarter 394 857 323 795 8 214 28 036 18 684 4 240 5 112 16 731 18 081 18 838 11 606 3 301 34 812  360 045 
IV Quarter  433 267 349 765 8 352 29 820 19 960 4 237 5 623 6 975 38 355 20 969 15 666 270 45 330  387 937 
2014*                             
І Quarter 340 783 288 334 8 405 26 520 16 374 3 679 6 467 2 552 14 972 27 461 25 266 19 441 17 524  323 259 
ІІ Quarter 385 347 330 552 6 887 27 063 18 138 4 149 4 776 -1 652 22 497 17 957 -8 751 -2 256 20 845  364 502 
ІІІ Quarter 396 760 322 743 6 874 30 808 18 893 4 243 7 672 13 103 23 232 -18 386 5 233 2 529 36 335  360 425 
Since ІІ quarter 2014 data are presented except the temporarily occupied territories of the Autonomous Republic of Crimea.  
  WT/BOP/G/21  
 
- 23 - ANNEX 6 
Export, import and production of energy resources, 2013-14 
(Coala) 
 Export  Import  Production  
  US$ thousands tons  average price, 
US$/ton US$ thousands  tons average price, 
US$/ton US$ thousands  tons 
2701 HS 2012             
2013 735 890.2 8 520 954.3  86.4 1 971 275.6 14 124 004.5 139.6  84 275 300.0
2014 521 137.3 7 045 526.8  74.0 1 768 721.2 14 697 341.9 120.3  63 585 700.0
2702 HS 2012             
2013 17.3 395.5  43.7 150.9 1 864.2 80.9  
2014 5.7 120.0  47.2 105.4 1 494.7 70.5   
Electric energya         
  Export  Import   Production   
  US$ thousands  kWt/h r average price, 
US$/ kWt/hr US$ thousands  kWt/h r average price, 
US$/ kWt/hr US$ thousands  kWt/h r 
2716 HS 2012             
2013 580 194.5 9 928 968 047.0  0.058 1 722.6 38 712 731.0 0.044  193 808 000 000.0
2014 485 927.7 8 523 477 841.0  0.057 4 138.8 88 933 108.0 0.047  181 870 800 000.0
Gas1         
  Export  Import  Production  
  US$ thousands 1000 m3 average price, 
US$/1000 m3 US$ thousands  1000 m3 average price, 
US$/1000 m3 US$ thousands  1000 m3 
271121 HS 2012             
2013 - - - 11 538 192.2 27 972 035.1 412.5  19 635 700.0
2014 - -  - 5 694 635.6 19 465 949.9 292.5  19 070 500.0
Oila         
  Export  Import  Production  
  US$ thousands tons average price, 
US$/ton US$ thousands  tons average price, 
US$/ton US$ thousands  tons 
2709 HS 2012             
2013 - - - 630 280.2 761 058.2 828.2  2 169 500.0
2014 27 351.3 41 263.0  662.9 146 532.8 178 613.2 820.4  2 031 800.0
Oil productsa         
  Export  Import  Production  
  US$ thousands tons average price, 
US$/ton US$ thousands  tons average price, 
US$/ton US$ thousands  tons 
2710 HS 2012             
2013 635 810.5 910 488.6  698.3 6 362 983.9 6 478 556.4 982.2   
2014 510 091.0 729 938.8  698.8 6 685 168.7 7 242 879.5 923.0   
a Except temporarily occupied territory  of Autonomous Republic of Crimea.  
  WT/BOP/G/21  
 
- 24 - ANNEX 7 
International reserves of Uk raine, by end of period 
(US$ million) 
  2014 2015 
 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb 
Official reserve assets 17806 15462.32 15086 14226.27 17899 17083 16070 15928 16385 12587 9966 7533 17806 15462.32 
*Foreign currency reserves 16070 13637 13300 12420.59  16274 15380 14379 14260 14815 11578 9058 6618 16070 13637 
*IMF reserve position 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 0.030 
*SDRs 31.230 16.080 16.060 28.500 6.240 6.260 15.390 1.680 1.110 20.320 3.780 3.740 31.230 16.080 
*Gold 1704.4 1809.1 1769.3 1777.2 1618.2 1697.3 1675.3 1666.9 1568.7 988.7 903.8 911.1 1704.4 1809.1 
*Other reserve assets - - - - - - - - - - -  - - 
 
ANNEX 8 
Ukraine's Balance of Payments 
Description 2013 2014 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 
CURRENT ACCOUNT -3195 -2265 -6012 -5006 -1523 -941 -1329 -1480 -16478 -5273 
GOODS AND SERVICES (balance) -3271 -2171 -5300 -4852 -1512 -924 -1127 -1720 -15594 -5283 
EXPORTS OF GOODS AND SERVICES 19851 20786 22546 22299 18030 18008 16982 15465 85482 68485 
IMPORTS OF GOODS AND SERVICES -23122 -22957 -27846 -27151 -19542 -18932 -18109 -17185 -101076 -73768 
GOODS (balance) -4129 -3133 -7341 -5374 -1956 -869 -1216 -2024 -19977 -6065 
EXPORTS OF GOODS  15630 15916 15987 17464 14425 14830 13612 12392 64997 55259 
IMPORTS OF GOODS -19759 -19049 -23328 -22838 -16381 -15699 -14828 -14416 -84974 -61324 
SERVICES (balance) 858 962 2041 522 444 -55 89 304 4383 782 
EXPORTS OF SERVICES 4221 4870 6559 4835 3605 3178 3370 3073 20485 13226 
Transportation 1912 2036 2201 2115 1623 1505 1534 1316 8264 5978 
railway transport 356 458 463 338 289 262 231 264 1615 1046 
sea transport 278 272 280 294 229 183 214 205 1124 831 
air transport 313 320 355 346 268 259 312 231 1334 1070 
other transport 965 986 1103 1137 837 801 777 616 4191 3031 
Travel 568 1249 2570 696 448 416 487 261 5083 1612 
Construction services 31 42 118 84 58 27 69 55 275 209 
Financial services  66 85 121 77 60 53 52 56 349 221 
Communication services 128 146 155 173 128 129 130 217 602 604 
Insurance services 6 8 15 11 4 1 5 3 40 13  
  WT/BOP/G/21  
 
- 25 - Description 2013 2014 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 
Computer and information services 294 319 355 426 372 377 412 437 1394 1598 
Royalties and license fees 29 26 35 77 31 26 27 34 167 118 
Advertising, market research 100 107 114 159 118 91 86 91 480 386 
Research and development 171 103 154 153 148 86 102 104 581 440 
Architectural, engineering and other 
technical services 168 169 145 158 113 111 120 134 640 478 
Legal, accounting, management 
consulting and public relations 96 98 103 115 96 83 88 74 412 341 
Agricultural, mining and on-site 
processing services 65 54 42 44 4 7 5 7 205 23 
Government services 285 127 125 225 135 45 53 69 762 302 
Other services 302 301 306 322 267 221 200 215 1231 903 
IMPORTS OF SERVICES -3363 -3908 -4518 -4313 -3161 -3233 -3281 -2769 -16102 -12444 
Transportation -874 -1019 -1163 -1087 -750 -730 -752 -707 -4143 -2939 
railway transport -288 -360 -431 -393 -304 -267 -250 -242 -1472 -1063 
sea transport -190 -229 -218 -202 -142 -154 -181 -182 -839 -659 
air transport -252 -289 -343 -319 -205 -195 -212 -178 -1203 -790 
other transport -144 -141 -171 -173 -99 -114 -109 -105 -629 -427 
Travel -1242 -1485 -1727 -1309 -1262 -1349 -1420 -1030 -5763 -5061 
Construction services -55 -65 -75 -25 -29 -5 -22 -4 -220 -60 
Financial services  -172 -281 -309 -249 -229 -215 -189 -167 -1011 -800 
Communication services -50 -59 -93 -132 -38 -38 -44 -99 -334 -219 
Insurance services -32 -35 -48 -36 -30 -21 -27 -14 -151 -92 
Computer and information services -84 -104 -105 -152 -93 -93 -92 -92 -445 -370 
Royalties and license fees -214 -169 -226 -463 -124 -175 -137 -116 -1072 -552 
Advertising, market research -53 -38 -48 -42 -39 -42 -38 -31 -181 -150 
Research and development -51 -31 -35 -32 -25 -20 -30 -14 -149 -89 
Architectural, engineering and other 
technical services -54 -59 -64 -95 -71 -54 -62 -51 -272 -238 
Legal, accounting, management 
consulting and public relations -100 -117 -111 -123 -91 -87 -66 -59 -451 -303 
Agricultural, mining and on-site 
processing services -39 -37 -48 -38 -45 -31 -67 -32 -162 -175 
Government services -137 -151 -144 -149 -165 -172 -163 -160 -581 -660 
Other services -206 -258 -322 -381 -170 -201 -172 -193 -1167 -736 
INCOME (balance) -457 -683 -1192 -701 -252 -511 -508 -260 -3033 -1531 
Credit 1546 1728 2044 2449 1331 1400 1482 1290 7767 5503 
Сompensation of employees  1425 1624 1844 1889 1253 1324 1393 1213 6782 5183 
Investment income  121 104 200 560 78 76 89 77 985 320 
Debit  -2003 -2411 -3236 -3150 -1583 -1911 -1990 -1550 -10800 -7034 
Сompensation of employees  -5 -6 -6 -8 -6 -6 -9 -8 -25 -29 
Investment income  -1998 -2405 -3230 -3142 -1577 -1905 -1981 -1542 -10775 -7005 
CURRENT TRANSFERS (balance) 533 589 480 547 241 494 306 500 2149 1541 
Credit 863 1021 1077 1168 817 885 922 800 4129 3424  
  WT/BOP/G/21  
 
- 26 - Description 2013 2014 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 
General government 123 136 132 135 158 152 154 149 526 613 
Other sectors  740 885 945 1033 659 733 768 651 3603 2811 
Workers' remittances  321 377 413 420 273 308 326 258 1531 1165 
Other transfers  419 508 532 613 386 425 442 393 2072 1646 
Debit -330 -432 -597 -621 -576 -391 -616 -300 -1980 -1883 
General government  -23 -10 -14 -17 -3 -9 -10 -10 -64 -32 
Other sectors  -307 -422 -583 -604 -573 -382 -606 -290 -1916 -1851 
Workers' remittances  -5 -5 -6 -6 -17 -1 -8 -3 -22 -29 
Other transfers  -302 -417 -577 -598 -556 -381 -598 -287 -1894 -1822 
CAPITAL AND FINANCIAL ACCOUNT 4150 2218 4634 6133 497 121 1598 2477 17135 4693 
CAPITAL ACCOUNT 36 -33 -9 -77 8 341 17 2 -83 368 
Capital transfers -1 -2 6 -2 5 334 -10 0 1 329 
Acquisition/disposal of non-produced 
non-financial assets 37 -31 -15 -75 3 7 27 2 -84 39 
FINANCIAL ACCOUNT 4114 2251 4643 6210 489 -220 1581 2475 17218 4325 
DIRECT INVESTMENT 1082 496 1510 991 -665 -319 725 558 4079 299 
In reporting country 1149 555 1571 1224 -589 -319 762 556 4499 410 
Equity capital 846 594 1251 977 -517 -142 625 746 3668 712 
Other capital 303 -39 320 247 -72 -177 137 -190 831 -302 
Claims on direct investors (trade 
credits) 5 -28 -63 76 -119 -241 -4 -73 -10 -437 
Liabilities to direct investors 298 -11 383 171 47 64 141 -117 841 135 
of which trade credits  256 52 374 56 128 18 20 49 738 215 
Abroad -67 -59 -61 -233 -76 0 -37 2 -420 -111 
PORTFOLIO INVESTMENT 2853 1738 543 3653 -408 -166 47 -2175 8787 -2702 
Assets -8 9 7 -3 2 -1 0 0 5 1 
Liabilities 2861 1729 536 3656 -410 -165 47 -2175 8782 -2703 
Equity securities 713 568 655 -756 -241 -49 -84 -17 1180 -391 
Debt securities 2148 1161 -119 4412 -169 -116 131 -2158 7602 -2312 
Bonds and notes 2176 1177 -99 4412 -168 -116 131 -2162 7666 -2315 
Money-market instruments -28 -16 -20 0 -1 0 0 4 -64 3 
OTHER INVESTMENT 658 -944 627 459 -3918 2242 683 -4683 800 -5676 
Assets 788 2252 -1508 188 -1498 798 -188 35 1720 -853 
Trade credits -1047 32 186 1277 -160 -278 -259 10 448 -687 
Loans -126 249 -14 82 -1390 329 -3 1220 191 156 
Currency and deposits 2024 1892 -1722 -1194 9 780 150 -1208 1000 -269 
Foreign cash outside the banking system 16 378 -1269 -1816 -2646 529 -293 -321 -2691 -2731 
Other assets -63 79 42 23 43 -33 -76 13 81 -53 
General government  -1 0 0 0 0 0 0 4 -1 4 
Other sectors  -62 79 42 23 43 -33 -76 9 82 -57 
Liabilities -130 -3196 2135 271 -2420 1444 871 -4718 -920 -4823 
Trade credits 1106 -876 1990 1768 -2311 -615 52 -3963 3988 -6837 
Long-term loans -1693 -3209 19 -2504 -1932 3150 -2 -1029 -7387 187 
Monetary authorities  -743 -731 -735 -853 -346 844 223 -170 -3062 551  
  WT/BOP/G/21  
 
- 27 - Description 2013 2014 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 
Drawings 0 0 0 0 0 1192 397 0 0 1589 
Repayments -743 -731 -735 -853 -346 -348 -174 -170 -3062 -1038 
General government  -619 -639 162 -1450 -1001 2730 1114 783 -2546 3626 
Drawings 150 65 844 148 36 3656 1856 1086 1207 6634 
Repayments -769 -704 -682 -1598 -1037 -926 -742 -303 -3753 -3008 
Banks  -1075 -1100 16 79 61 -21 -611 -633 -2080 -1204 
Drawings 262 362 950 1072 545 344 330 510 2646 1729 
Repayments -1337 -1462 -934 -993 -484 -365 -941 -1143 -4726 -2933 
Other sectors  744 -739 576 -280 -646 -403 -728 -1009 301 -2786 
Drawings 2676 2017 3786 4589 1123 815 703 594 13068 3235 
Repayments -1932 -2756 -3210 -4869 -1769 -1218 -1431 -1603 -12767 -6021 
Short-term loans 169 290 -20 1120 1179 -138 351 -606 1559 786 
Banks  11 247 -82 826 1085 -328 275 -559 1002 473 
Other sectors  158 43 62 294 94 190 76 -47 557 313 
Currency and deposits 160 30 -123 -33 -754 -337 -256 -84 34 -1431 
Other liabilities 128 569 269 -80 1398 -616 726 964 886 2472 
Banks  7 -3 -3 -1 0 1 12 47 0 60 
Other sectors  121 572 272 -79 1398 -617 714 917 886 2412 
RESERVES ASSETS -479 961 1963 1107 5480 -1977 126 8775 3552 12404 
Monetary gold -28 -123 -118 -26 -12 97 -8 649 -295 726 
Currency and deposits -147 1434 1315 -2385 3654 -2717 273 3825 217 5035 
Special drawing rights -1 -5 -1 -1 -6 9 4 -5 -8 2 
Securities -303 -345 767 3519 1844 634 -143 4306 3638 6641 
Net Errors and Omissions -955 47 1378 -1127 1026 820 -269 -997 -657 580 
BALANCE 0 0 0 0 0 0 0 0 0 0 
Except the temporarily occupied territories, the Autonomous Republic of Crimea in 2014.  
  WT/BOP/G/21  
 
- 28 - ANNEX 9 
Geographical structure of import  of goods into Ukraine in 2013-14a 
Name of group, section according 
to HS2012 2013  2014  2014 to 2013  Structure, % 
Value, US$ 
thousands  Weight, tons Value, US$ 
thousands  Weight, tons % US$ thousands  2013 2014 
Total  75 834 614.1 54 381 792.3 71.7 -21 452 821.8 100.0 100.0
including           
Agricultural and food processing 
products 8 039 220.9 6 052 111.7 75.3 -1 987 109.2 10.6 11.1
including:         
EU countries (28) 3 066 232.4 1 154 292.2 2 477 976.5 1 090 705.7 80.8 -588 255.9 4.0 4.6
Russian Federation 826 253.9 433 970.2 597 561.0 309 101.7 72.3 -228 692.9 1.1 1.1
Other CIS countries  212 150.4 121 029.1 127 530.7 83 462.1 60.1 -84 619.7 0.3 0.2
China 182 298.2 94 846.0 154 471.9 78 157.0 84.7 -27 826.3 0.2 0.3
Turkey 501 764.7 304 550.7 393 515.3 284 119.5 78.4 -108 249.4 0.7 0.7
USA 419 677.5 121 112.1 278 280.1 75 034.3 66.3 -141 397.5 0.6 0.5
Brazil 364 364.5 119 649.4 173 674.9 45 523.7 47.7 -190 689.5 0.5 0.3
Other countries in the world 2 466 479.2 1 428 817.4 1 849 101.3 1 113 206.5 75.0 -617 377.9 3.3 3.4
Industrial products  67 795 393.3 48 329 680.6 71.3 -19 465 712.7 89.4 88.9
including:   
EU countries (28)         
Russian Federation 23 691 952.6 9 668 016.2 18 581 814.3 10 084 663.3 78.4 -5 110 138.3 31.2 34.2
Other CIS countries 22 261 897.2 40 025 717.4 12 081 122.2 30 990 470.6 54.3 -10 180 775.0 29.4 22.2
China 4 438 491.1 5 364 298.2 4 443 189.4 5 827 365.9 100.1 +4 698.3 5.9 8.2
Turkey 7 263 894.6 2 165 863.0 5 254 445.2 1 680 508.8 72.3 -2 009 449.4 9.6 9.7
USA 1 252 637.8 952 725.9 904 642.0 760 826.6 72.2 -347 995.8 1.7 1.7
Brazil 2 330 337.6 3 203 765.1 1 648 266.2 2 222 132.5 70.7 -682 071.5 3.1 3.0
Other countries in the world 85 063.1 51 980.6 87 500.5 81 220.0 102.9 +2 437.3 0.1 0.2
a Except temporarily occupied territory  of Autonomous Republic of Crimea.  
 WT/BOP/G/21 
 
- 29 - 
 
  ANNEX 10 
Structure of imports of goods into Ukraine in 2013-14a 
(According to State Statis tics Service of Ukraine) 
HS2012 Name of group, section according to  Value, US$ mln.  2014 in %  
to 2013 Structure, % 
HS 2012 2013 2014 2013 2014  
  Total goods 75834.6 54381.8  71.7 100.0 100.0
1 Live animals 112.6 77.4 68.7 0.1 0.1
2 Meat and edible meat offal 618.9 238.9  38.6 0.8 0.4
3 Fish and crayfish,  shellfish 831.0 593.9  71.5 1.1 1.1
4 Milk and dairy products; eggs; honey 262.8 185.8  70.7 0.3 0.3
5 Other products of animal origin 25.1 26.8 106.9 0.0 0.0
I Live animals, animal products 1850.4 1122.7  60.7 2.4 2.1
6 Life trees and other plants  141.6 69.1 48.8 0.2 0.1
7 Edible vegetables, roots 175.4 162.5  92.6 0.2 0.3
8 Edible fruit and nuts; peel of citrus fruit  1196.8 800.6  66.9 1.6 1.5
9 Coffee, tea, spices 333.1 259.9  78.0 0.4 0.5
10 Cereals 306.5 366.6  119.6 0.4 0.7
11 Products of the milling industry  26.0 25.1  96.6 0.0 0.0
12 Oil seeds and oleaginous fruits  389.9 311.8  80.0 0.5 0.6
13 Gums and resins 36.4 30.2  82.9 0.0 0.1
14 Other products of plant origin 1.9 1.4 71.2 0.0 0.0
II Vegetable products  2607.6 2027.1  77.7 3.4 3.7
III 
15 Animal or vegetable fats and oils  403.3 301.5  74.8 0.5 0.6
16 Preparations of meat, of fish  151.0 104.5  69.2 0.2 0.2
17 Sugar and sugar confectionary  88.3 59.3 67.2 0.1 0.1
18 Cocoa and cocoa preparations 460.6 358.8  77.9 0.6 0.7
19 Preparations of cereals 215.2 169.3  78.7 0.3 0.3
20 Preparations of vegetables and fruits  296.6 233.0  78.5 0.4 0.4
21 Miscellaneous edible preparations 654.1 529.7  81.0 0.9 1.0
22 Beverages, spirits and vinegar  572.8 422.1  73.7 0.8 0.8
23 Residues and  waste from the food 
industry 285.8 241.9  84.6 0.4 0.4
24 Tobacco and manufactured tobacco 
substitutes 453.6 482.2  106.3 0.6 0.9
IV Prepared foodstuff 3177.9 2600.7  81.8 4.2 4.8
25 Salt; sulphur; plastering materials; 
cement 359.2 284.2  79.1 0.5 0.5
26 Ores, slag, ash 748.0 666.2  89.1 1.0 1.2
27 Mineral fuels, mineral oil and oil 
products  21160.8 15116.4  71.4 27.9 27.8
V Mineral products 22268.0 16066.8  72.2 29.4 29.5
28 Inorganic chemicals  323.4 303.5  93.8 0.4 0.6
29 Organic chemicals  756.0 709.3  93.8 1.0 1.3
30 Pharmaceutical products 3094.8 2472.8  79.9 4.1 4.5
31 Fertilizers  816.2 593.0  72.7 1.1 1.1
32 Tanning or dyeing extracts 512.6 410.3  80.0 0.7 0.8
33 Essential oils, cosmetics 924.6 709.6  76.7 1.2 1.3
34 Soap, washing preparations 454.1 378.6  83.4 0.6 0.7
35 Albuminoidal substances 162.1 128.4  79.2 0.2 0.2
36 Explosives 24.5 16.4  66.8 0.0 0.0
37 Photographic or cinematographic goods  36.3 27.5 75.8 0.0 0.1
38 Miscellaneous chemical products 1302.5 1029.4  79.0 1.7 1.9
VI Products of chemical and allied 
industries  8407.1 6778.7  80.6 11.1 12.5
39 Polymer materials, plastic,  3531.2 2922.5  82.8 4.7 5.4
40 Rubber, resin 1034.7 712.4  68.8 1.4 1.3
VII Plastics and rubber 4566.0 3634.9  79.6 6.0 6.7
41 Raw hides, skins and leather  111.5 112.9  101.2 0.1 0.2
42 Leather products 128.3 97.4  75.9 0.2 0.2
43 Furskins and artificial fur 16.4 12.3 75.2 0.0 0.0
VIII Raw hides, skins, leather and fur 
raw material and products 256.2 222.6  86.9 0.3 0.4
44 Wood and articles of wood 387.8 281.3  72.5 0.5 0.5
45 Cork and articles of cork 10.8 9.2  85.4 0.0 0.0
46 Manufactures of straw 5.5 4.17 75.9 0.0 0.0WT/BOP/G/21 
 
- 30 - 
 
  HS2012 Name of group, section according to  Value, US$ mln.  2014 in %  
to 2013 Structure, % 
HS 2012 2013 2014 2013 2014  
IX Wood and articles of wood  404.1 294.7  72.9 0.5 0.5
47 Pulp of wood or of other fibrous 
cellulosic material 122.7 117.9  96.1 0.2 0.2
48 Paper and paperboard 1675.7 1102.9  65.8 2.2 2.0
49 Products of the printing industry 93.7 68.5 73.0 0.1 0.1
X Pulp of wood or of other fibrous 
cellulosic material 1892.1 1289.2  68.1 2.5 2.4
50 Silk 1.3 1.5 120.8 0.0 0.0
51 Wool 55.2 47.7  86.4 0.1 0.1
52 Cotton  198.1 188.6  95.2 0.3 0.3
53 Other vegetable textile fibres 15.0 11.0  73.4 0.0 0.0
54 Man-made filaments 251.9 205.0  81.4 0.3 0.4
55 Man-made staple fibres 244.8 224.2  91.6 0.3 0.4
56 Wadding, felt and nonwovens 163.1 153.3  94.0 0.2 0.3
57 Carpets  49.1 30.7  62.5 0.1 0.1
58 Special woven fabrics 56.8 54.3 95.6 0.1 0.1
59 Impregnated textile fabrics 123.0 104.7  85.1 0.2 0.2
60 Knitted or crocheted fabrics 95.0 92.8 97.7 0.1 0.2
61 Knitted articles of apparel  376.8 254.3  67.5 0.5 0.5
62 Not knitted articles of apparel  505.4 293.2  58.0 0.7 0.5
63 Other made-up textile articles 266.7 221.4  83.0 0.4 0.4
XI Textiles and textile articles 2402.1 1882.7  78.4 3.2 3.5
64 Footwear  755.9 397.3  52.6 1.0 0.7
65 Headgear 16.6 16.6 100.1 0.0 0.0
66 Umbrellas  6.1 6.3  102.5 0.0 0.0
67 Processed feathers  and down   12.3 10.5 85.7 0.0 0.0
XII Footwear, headdres s, umbrellas 790.9 430.7  54.4 1.0 0.8
68 Stone, plaster, cement articles 364.9 252.1  69.1 0.5 0.5
69 Ceramic products 356.0 232.7  65.3 0.5 0.4
70 Glass and glassware 406.5 315.9  77.7 0.5 0.6
XIII Articles of stone, plaster, cement, 
asbestos or similar materials 1127.5 800.7  71.0 1.5 1.5
ХIV 
71 Precious or semi-precious stones, 
precious metals and articles thereof  689.7 296.8  43.0 0.9 0.5
72 Iron and steel 2212.9 1297.6  58.6 2.9 2.4
73 Articles of iron or steel 1190.3 840.0  70.6 1.6 1.5
74 Copper and articles thereof 148.5 79.6  53.6 0.2 0.1
75 Nickel and articles thereof 232.6 175.2  75.3 0.3 0.3
76 Aluminium and articles thereof 464.9 364.0  78.3 0.6 0.7
78 Lead and articles thereof 33.9 10.8 31.8 0.0 0.0
79 Zinc and articles thereof 48.9 40.9  83.7 0.1 0.1
80 Tin and articles thereof 8.0 6.0 74.8 0.0 0.0
81 Other base metals 96.9 100.2  103.5 0.1 0.2
82 Tools, implements, cutlery, spoons and 
forks, of base metal 246.4 191.9  77.9 0.3 0.4
83 Miscellaneous articles of base metal 269.9 216.3  80.1 0.4 0.4
XV Base metals and articles of base 
metal  4953.2 3322.5  67.1 6.5 6.1
84 Boilers, machinery  and mechanical 
appliances 6805.9 4913.6  72.2 9.0 9.0
85 Electrical machinery and equipment and 
parts 5044.2 3806.4  75.5 6.7 7.0
XVI Machinery and mechanical 
appliances; electrical equipment; parts thereof  11850.2 8720.0
 73.6 15.6 16.0
86 Railway or tramway locomotives, rolling 
stock and parts thereof 340.1 123.7  36.4 0.4 0.2
87 Vehicles other than railway or tramway 
rolling stock 5413.6 2450.8  45.3 7.1 4.5
88 Aircraft, spacecraft , and parts thereof 54.6 49.2 90.1 0.1 0.1
89 Ships, boats and floating structures 43.5 24.3  55.8 0.1 0.0
XVII Vehicles, aircraft, vessels and 
associated transport equipment  5851.7 2648.0  45.3 7.7 4.9
90 Optical, photographic,  medical 
instruments 1043.7 650.0  62.3 1.4 1.2
91 Clocks   21.0 15.7 74.9 0.0 0.0
92 Musical instruments 11.2 7.2  64.8 0.0 0.0WT/BOP/G/21 
 
- 31 - 
 
  HS2012 Name of group, section according to  Value, US$ mln.  2014 in %  
to 2013 Structure, % 
HS 2012 2013 2014 2013 2014  
XVIII Optical instruments surgical 
equipment; clocks; musical 
instruments 1075.9 673.0  62.6 1.4 1.2
94 Furniture  447.1 323.7  72.4 0.6 0.6
95 Toys 310.8 213.3  68.6 0.4 0.4
96 Miscellaneous manufactured articles 125.2 365.2  291.7 0.2 0.7
XX Miscellaneous manufactured 
articles  883.2 902.2  102.2 1.2 1.7
XXІ 97 Works of art  23.2 8.8  37.8 0.0 0.0
 Goods bought in ports; 
miscellaneous 354.3 357.5  100.9 0.5 0.7
a Except temporarily occupied Autonomous Republic of Crimea.  
 WT/BOP/G/21 
 
- 32 - 
 
  ANNEX 11 
Geographical structure of export  of goods from Ukraine in 2013-14a 
Name of group,  
section 
according to 
HS2012 2013  2014  2014 to 2013  Structure, %  
Value, US$ 
thousands  Weight, 
tons Value, US$ 
thousands  Weight, 
tons % US$ 
thousands  2013  2014  
Total  62 305 927.3  53 913 548.3  86.5  -8 392 379.0 100.0 100.0
including          
Agricultural 
and food processing products  16 929 980.2  16 671 171.8  98.5
 -258 808.3 27.2 30.9
including:          
EU countries (28)  4 468 198.6 13 194 874.4 4 765 534.1 16 290 428.8 106.7  +297 335.4 7.2 8.8
Russian 
Federation 1 886 955.6 1 335 461.6 911 830.8 680 924.3 48.3 -975 124.8 3.0 1.7
Other CIS 
countries  1 633 057.3 1 670 897.2 1 548 459.4 1 725 503.7 94.8  -84 597.9 2.6 2.9
China 483 713.1 590 458.6 764 879.3 2 312 707.2 158.1  +281 166.2 0.8 1.4
Turkey 682 745.5 1 795 885.3 665 583.2 2 156 996.4 97.5  -17 162.3 1.1 1.2
USA 28 602.0 19 959.2 39 313.9 21 258.3 137.5  +10 712.0 0.0 0.1
Brazil 608.9 1 541.6 186.7 232.1 30.7  -422.2 0.0 0.0
Other countries 
in the world 7 746 099.2 22 909 489.9 7 975 384.4 26 115 178.5 103.0  +229 285.2 12.4 14.8
Industrial 
products 45 375 947.2  37 242 376.4  82.1  -8 133 570.7 72.8 69.1
including:          
EU countries (28)  12 105 551.2 39 223 544.7 12 239 142.9 40 447 245.6 101.1  +133 591.7 19.4 22.7
Russian 
Federation 12 899 190.4 37 073 694.4 8 887 333.1 32 259 637.0 68.9 -4 011 857.2 20.7 16.5
Other CIS 
countries  5 252 694.7 7 107 466.3 3 539 725.8 5 346 331.1 67.4  -1 712 968.9 8.4 6.6
China 2 207 493.5 18 279 784.9 1 909 238.6 20 704 533.0 86.5 -298 254.9 3.5 3.5
Turkey 3 071 164.9 9 936 252.7 2 895 853.0 9 589 729.4 94.3  -175 312.0 4.9 5.4
USA 832 020.4 1 323 520.3 628 612.8 1 131 776.1 75.6 -203 407.6 1.3 1.2
Brazil 193 816.4 581 115.2 109 999.3 237 082.8 56.8  -83 817.1 0.3 0.2
Other countries 
in the world 8 814 015.7 18 043 775.5 7 032 471.0 14 885 161.0 79.8 -1 781 544.7 14.1 13.0
a Except temporarily occupied territory  of Autonomous Republic of Crimea.  
 WT/BOP/G/21 
 
- 33 - 
 
  ANNEX 12 
Structure of exports of goods from Ukraine in 2013-14a 
(State Statistics Service of Ukraine) 
HS2012  Name of group  Value, US$ million 2014 in % 
to 2013 Structure, % 
2013 2014 2013   2014  
  Total goods 62305.9 53913.5  86.5 100.0 100.0
1 Live animals 12.9 14.5 111.9 0.0 0.0
2 Meat and edible meat offal 348.5 381.8  109.6 0.6 0.7
3 Fish and crayfish, shellfish 20.3 27.4 135.1 0.0 0.1
4 Milk and dairy products; eggs; honey 691.5 575.5  83.2 1.1 1.1
5 Other products of animal origin 9.9 15.4 156.1 0.0 0.0
I Live animals, animal products 1083.1 1014.6  93.7 1.7 1.9
6 Life trees and other plants  2.1 1.4 67.9 0.0 0.0
7 Edible vegetables, roots 111.1 129.9  116.9 0.2 0.2
8 Edible fruit and nuts; peel of citrus fruit 137.9 148.2  107.5 0.2 0.3
9 Coffee, tea, spices 10.7 14.6  137.4 0.0 0.0
10 Cereals 6351.7 6544.1  103.0 10.2 12.1
11 Products of the milling industry  137.0 124.4  90.8 0.2 0.2
12 Oil seeds and oleaginous fruits  2044.8 1687.7  82.5 3.3 3.1
13 Gums and resins 0.5 0.6  108.6 0.0 0.0
14 Other products of plant origin 53.4 85.2 159.7 0.1 0.2
II Vegetable products  8849.1 8736.2  98.7 14.2 16.2
III 
15 Animal or vegetable fats and oils 3497.4 3823.7  109.3 5.6 7.1
16 Preparations of meat, of fish  42.9 32.4  75.4 0.1 0.1
17 Sugar and sugar confectionary  259.3 147.1  56.7 0.4 0.3
18 Cocoa and cocoa preparations 555.0 323.0  58.2 0.9 0.6
19 Preparations of cereals 412.3 390.3  94.7 0.7 0.7
20 Preparations of vegetables and fruits  404.1 297.8  73.7 0.6 0.6
21 Miscellaneous edible preparations 251.2 212.3  84.5 0.4 0.4
22 Beverages, spirits and vinegar  361.9 251.4  69.5 0.6 0.5
23 Residues and waste from the food industry  921.3 1108.3  120.3 1.5 2.1
24 Tobacco and manufactured tobacco 
substitutes 292.4 334.2  114.3 0.5 0.6
IV Prepared foodstuff 3500.5 3096.7  88.5 5.6 5.7
25 Salt; sulphur; plastering materials; 
cement 704.1 619.1  87.9 1.1 1.1
26 Ores, slag, ash 3796.8 3472.4  91.5 6.1 6.4
27 Mineral fuels, mineral oil and oil products  2689.3 2012.7  74.8 4.3 3.7
V Mineral products 7190.1 6104.2  84.9 11.5 11.3
28 Inorganic chemicals  1644.7 1178.2  71.6 2.6 2.2
29 Organic chemicals  232.3 154.1  66.4 0.4 0.3
30 Pharmaceutical products 250.8 255.6  101.9 0.4 0.5
31 Fertilizers  1171.1 694.5  59.3 1.9 1.3
32 Tanning or dyeing extracts 120.4 236.5  196.4 0.2 0.4
33 Essential oils, cosmetics 201.7 175.0  86.8 0.3 0.3
34 Soap, washing preparations 150.5 143.4  95.3 0.2 0.3
35 Albuminoidal substances 59.2 81.2 137.3 0.1 0.2
36 Explosives 11.1 8.2  74.0 0.0 0.0
37 Photographic or cinematographic goods 0.7 0.5 70.8 0.0 0.0
38 Miscellaneous chemical products 166.4 126.8  76.2 0.3 0.2
VI Products of chemical and allied 
industries  4008.9 3054.1  76.2 6.4 5.7
39 Polymer materials, plastic,  597.7 459.6  76.9 1.0 0.9
40 Rubber, resin 187.1 126.8  67.8 0.3 0.2
VII Plastics and rubber 784.8 586.4  74.7 1.3 1.1
41 Raw hides, skins and leather  92.4 85.7 92.7 0.1 0.2
42 Leather products 40.4 39.1  96.7 0.1 0.1
43 Furskins and artificial fur 16.1 31.9 198.2 0.0 0.1
VIII Raw hides, skins, leather and fur raw 
material and products  148.9 156.7  105.2 0.2 0.3
44 Wood and articles of wood 1143.0 1262.0  110.4 1.8 2.3
45 Cork and articles of cork 0.0 0.2  552.1 0.0 0.0
46 Manufactures of straw 0.6 0.5 77.6 0.0 0.0WT/BOP/G/21 
 
- 34 - 
 
  HS2012  Name of group  Value, US$ million 2014 in % 
to 2013 Structure, % 
2013 2014 2013   2014  
IX Wood and articles of wood  1143.7 1262.6  110.4 1.8 2.3
47 Pulp of wood or of other fibrous cellulosic 
material 1.2 0.9 75.1 0.0 0.0
48 Paper and paperboard 1079.6 851.3  78.9 1.7 1.6
49 Products of the printing industry 164.3 133.4  81.2 0.3 0.2
X Pulp of wood or of other fibrous 
cellulosic material 1245.1 985.7  79.2 2.0 1.8
50 Silk 0.0 0.0 211.1 0.0 0.0
51 Wool 7.9 7.4  93.1 0.0 0.0
52 Cotton  5.4 3.7 68.9 0.0 0.0
53 Other vegetable textile fibres 1.0 1.2  121.3 0.0 0.0
54 Man-made filaments 6.3 4.0 63.6 0.0 0.0
55 Man-made staple fibres 15.9 13.3  83.4 0.0 0.0
56 Wadding, felt and nonwovens 38.8 48.7 125.5 0.1 0.1
57 Carpets  20.5 14.7  71.7 0.0 0.0
58 Special woven fabrics 3.9 3.6 92.4 0.0 0.0
59 Impregnated textile fabrics 27.4 21.3  77.8 0.0 0.0
60 Knitted or crocheted fabrics 14.1 12.0 85.2 0.0 0.0
61 Knitted articles of apparel  164.9 135.5  82.2 0.3 0.3
62 Not knitted articles of apparel  400.1 410.6  102.6 0.6 0.8
63 Other made-up textile articles 103.0 109.7  106.5 0.2 0.2
XI Textiles and textile articles 809.4 785.9  97.1 1.3 1.5
64 Footwear  191.5 196.1  102.4 0.3 0.4
65 Headgear 2.7 2.0 74.3 0.0 0.0
66 Umbrellas  4.0 4.5  111.5 0.0 0.0
67 Processed feathers  and down   0.5 0.2 51.7 0.0 0.0
XII Footwear, headdres s, umbrellas 198.7 202.8  102.1 0.3 0.4
68 Stone, plaster, cement articles 157.0 119.1  75.8 0.3 0.2
69 Ceramic products 293.0 226.5  77.3 0.5 0.4
70 Glass and glassware 132.2 133.8  101.2 0.2 0.2
XIII Articles of stone, plaster, cement, 
asbestos or similar materials 582.2 479.4  82.3 0.9 0.9
71 
ХIV Precious or semi-precious stones, 
precious metals and articles thereof 118.4 161.4  136.4 0.2 0.3
72 Iron and steel 14314.8 12907.1  90.2 23.0 23.9
73 Articles of iron or steel 2557.2 1695.8  66.3 4.1 3.1
74 Copper and articles thereof 163.0 162.6  99.7 0.3 0.3
75 Nickel and articles thereof 20.0 21.9 109.2 0.0 0.0
76 Aluminium and articles thereof 143.7 126.6  88.1 0.2 0.2
78 Lead and articles thereof 19.9 21.5 108.4 0.0 0.0
79 Zinc and articles thereof 6.8 17.3  255.7 0.0 0.0
80 Tin and articles thereof 0.0 0.1 240.7 0.0 0.0
81 Other base metals 128.1 133.0  103.8 0.2 0.2
82 Tools, implements, cutlery, spoons and 
forks, of base metal 38.4 24.0 62.5 0.1 0.0
83 Miscellaneous articles of base metal 133.3 125.6  94.3 0.2 0.2
XV Base metals and articles of base 
metal  17525.2 15235.5  86.9 28.1 28.3
84 Boilers, machinery and mechanical 
appliances 3732.4 2977.2  79.8 6.0 5.5
85 Electrical machinery and equipment and 
parts 3094.1 2682.1  86.7 5.0 5.0
XVI Machinery and mechanical appliances;  
electrical equipment; parts thereof  6826.5 5659.3  82.9 11.0 10.5
86 Railway or tramway locomotives, rolling 
stock and parts thereof 2448.7 839.4  34.3 3.9 1.6
87 Vehicles other than railway or tramway 
rolling stock 374.7 293.1  78.2 0.6 0.5
88 Aircraft, spacecraft , and parts thereof 311.8 246.4  79.0 0.5 0.5
89 Ships, boats and floating structures 139.0 93.4  67.2 0.2 0.2
XVII Vehicles, aircraft, vessels and 
associated transport equipment  3274.2 1472.3  45.0 5.3 2.7
90 Optical, photographic, medical 
instruments 287.8 229.4  79.7 0.5 0.4
91 Clocks 2.3 2.1 89.8 0.0 0.0
92 Musical instruments 0.9 0.5  57.0 0.0 0.0WT/BOP/G/21 
 
- 35 - 
 
  HS2012  Name of group  Value, US$ million 2014 in % 
to 2013 Structure, % 
2013 2014 2013   2014  
XVIII Optical instruments surgical 
equipment; clocks; musical 
instruments 291.1 232.0  79.7 0.5 0.4
94 Furniture  554.7 531.2  95.8 0.9 1.0
95 Toys 95.8 94.4 98.5 0.2 0.2
96 Miscellaneous manufactured articles 8.4 110.7  1318.0 0.0 0.2
XX Miscellaneous manufactured articles  658.9 736.3  111.7 1.1 1.4
XXІ 97 Works of art  0.6 0.2  36.4 0.0 0.0
 Goods bought in ports; miscellaneous  569.2 127.6  22.4 0.9 0.2
a Except temporarily occupied Autonomous Republic of Crimea. 
 WT/BOP/G/21 
 
- 36 - 
 
  ANNEX 13 
Gross external debt position of Ukraine  
(US$ million) 
Data Category 01.01.2010 01.01.2011 01.01.2012 01.01.2013 01.01.2014 01.01.2015
General 
Government 17806 24982 25874 27333 29922 32884 
Short-term 29 2053 2001 62 0 6 
   Debt securities 29 53 1 62 0 6 
   Loans 0 2000 2000 0 0 0 
Long-term 17777 22929 23873 27271 29922 32878 
   Debt securities 5747 9148 10047 14221 19386 19334 
   Loans 10105 11890 11941 11163 8639 11765 
   Special drawing 
rights (SDRs), 
Allocationa 1925 1891 1885 1887 1897 1779 
              
Central Bank 6211 7512 7492 4865 1775 2176 
Short-term 1 3 5 12 0 0 
   Currency and 
deposits 1 3 5 12 0 0 
Long-term 6210 7509 7487 4853 1775 2176 
   Loans 6082 7384 7362 4728 1649 2058 
   Special drawing 
rights (SDRs), Allocation
a 128 125 125 125 126 118 
              
Deposit-Taking 
Corporations, 
except the Central Bank 30860 28116 25193 21541 22555 18752 
Short-term 4621 4432 5778 4248 5432 5236 
   Loans 428 425 92 185 661 559 
   Currency and 
deposits 4193 4007 5686 4063 4771 4677 
Long-term 26239 23684 19415 17293 17123 13516 
   Debt securities 4924 4672 3648 3301 5082 4365 
   Loans 1823 1206 1216 1053 1753 2020 
   Currency and 
deposits 19492 17806 14551 12939 10288 7131 
              
Others sectors 43441 50843 59357 70441 76642 63252 
Short-term 11985 15190 18933 21107 24310 15050 
   Debt securities 0 8 440 0 0 0 
   Loans 525 790 1500 717 899 995 
   Trade credit and 
advancesb 11460 14392 16993 20390 23411 14055 
   Other debt 
liabilities 0 0 0 0 0 0 
Long-term 31456 35653 40424 49334 52332 48202 
   Debt securities 2472 3431 4082 5251 6291 4665 
   Loans 28789 31989 36157 43743 44829 41723 
   Trade credit and 
advances 195 233 185 340 1212 1814 WT/BOP/G/21 
 
- 37 - 
 
  Data Category 01.01.2010 01.01.2011 01.01.2012 01.01.2013 01.01.2014 01.01.2015
Direct investment: 
intercompany 
lendingb 5095 5893 8320 10445 11185 9243 
   including             
     trade credits 0 0 1200 1552 2342 1175 
Gross external 
debtc 103413 117346 126236 134625 142079 126307 
a The debt liability for SDR allocation was partly reclassified to the debt  of general government. 
b According to the IMF external statistics mission recommendations the affiliated enterprise's account 
payable to their direct investors were reclassified from "Others se ctors Short-term Trade credits" 
item into "Direct investment: intercompany lending" item from 2012. 
c Except the temporarily occupied territories, the Autonomous Republic of Crimea from the beginning 
of 2014. 
 
__________