Ukraine's trade deficit rises 65% in first 10 months

Ukraine's trade deficit rose by 65 percent to 11.3 billion U.S. dollars in the first 10 months compared with the same period last year, according to figures released by the State Statistical Service Monday. During this period, total foreign trade topped 122.64 billion dollars with exports up nearly 36 percent to 55.6 billion dollars, while imports rising 40.1 percent to 67.04 billion dollars. The largest amounts of exports were shipped to Russia, Turkey and Italy, while the largest batches of imported goods came from Russia, Germany and China. The October decline in exports reflected a drop of exports of machine building. The monthly increase of imports was triggered by a rise of mineral fuels and oils. In 2010, Ukraine recorded a trade deficit of 9.3 billion dollars. Analysts expect Ukraine's trade deficit will rise to nearly 13 billion dollars this year.