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    Ukraine Faces Collapse in Foreign Trade

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    The poor economic situation in the country is reflected in the severe decrease of Ukrainian export volumes.

    The foreign trade turnover of Ukraine fell by one-third for January 2015, but the government is not ready to work out a strategic plan to support exporting companies, the newspaper "Ukrainskaya Pravda" reported.

    According to official Ukrainian foreign trade statistics for 2014, the volume of exports fell by 22%.

    "Statistics in January 2015 were set to confirm or refute the experts' assessments about the collapse of Ukrainian exports to the EU. In fact, statistics turned out to be much worse!" the newspaper reported.

    The latest data show that Ukrainian exports to the EU in January 2015 dropped by 31% compared with January 2014. The decrease of Ukrainian exports to CIS countries and Russia was even more apparent, reaching 54.9% and 60.3%, respectively.

    Executive director of the European Business Association, Anna Derevyanko, says that export growth requires a stable and predictable economic policy of the government, which currently does not exist.

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