So far, the global spread of the novel coronavirus has had a limited or neutral impact on the economy of Ukraine. Ukraine’s exports continue to rise. Further increases in physical volumes of exports have more than offset certain declines in prices for some of the goods the country exports.
At the same time, import prices (especially energy prices) are declining even faster than export prices. The price environment on the crude oil market has been favorable for Ukraine even disregarding the latest developments. In February, crude oil prices declined by 10%–15% yoy on average, European prices for natural gas fell by 50%, and metals prices dropped by 11%–12%.