The trade deficit of Ukraine more than halved by the end of the past 2020 – from $10.22 billion to $4.9 billion, Deputy Minister of Development of Economy, Trade and Agriculture, Trade Representative of Ukraine Taras Kachka has said.

"In U.S. dollars, exports for the whole year amounted to $49.32 billion, which is 1.70% less than in 2019. In the crisis year, this figure is very good. Particularly positive is the reduction of the trade deficit by more than half from $10.22 billion in 2019 to $4.9 billion," Kachka wrote on Friday on Facebook.

He especially noted the dynamics of December, when exports amounted to $4.88 billion, which is $150 million more than in the previous month and $760 million than in December 2019.

"The secret of the December figures is quite simple. All over the world prices for metal and ore are growing at a frantic pace. Exports for the 72nd group in December amounted to $715 million (in November it was $572 million and in December 2019 $522 million)," Kachka wrote.

According to him, the export of ore from Ukraine in 2020 amounted to $4.42 billion, which is 23% more than in 2019, while the indicators of ferrous metallurgy ($7.7 billion) and products from it ($0.88 billion) were less by 12% and 15%, respectively, than in 2019.

In addition, due to a decrease in the harvest, physical grain exports in 2020 were lower than in 2019. "But this decrease in physical exports is offset by a rise in prices," Kachka said.