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Belarus' trade with Ukraine reported down 17.1 percent in January-February 2014

Trade between Belarus and Ukraine fell by 17.1 percent year-on-year in the first two months of 2014 to total $771.9 million, according to government statistical data.

Ukraine was Belarus' second largest trading partner after Russia in January-February 2014.

Belarus' exports to Ukraine totaled $554.4 million, a nine-percent year-on-year decrease, while the country's imports from Ukraine fell by 32.5 percent to total $217.4 million.

Belarusian-Ukrainian trade reportedly totaled $6,250 million in 2013.

Belarus' exports to Ukraine totaled $4.2 billion last year, with petrochemical products making up almost 70 percent.

According to Ukraine's State Statistical Committee, the country's economic indicators are deteriorating amid the current political crisis. In particular, Ukraine's industrial output decreased by 4.2 percent year-on-year in the first two months of 2014, and the country's exports fell by 12.3 percent year-on-year in January.

The new Ukrainian government has set itself the task of reducing the state budget deficit by half this year. The deficit was initially projected to amount to 4.3 percent of GDP.

Ukrainian Finance Minister Oleksandr Shlapak said last month that the nation would have no economic growth in 2014. //BelaPAN