KIEV, Feb. 8 - The National Bank of Ukraine estimates the decline in exports of Ukrainian goods to the Russian Federation in 2016 at 30%, to $2.9 billion due to both restrictive and economic factors.

According to NBU calculations, food embargo introduced in Russia would lead to the decrease in exports by $250 million, a full abolition of the free trade area between Ukraine and the Russian Federation by $400 million, the decrease in demand on the part of Russia for major export commodities by $600 million.

The NBU states that exports of Ukrainian goods to other countries as a result of Russia's banning transit of goods through its territory will lose $460 million with the possibility of reorientation to other markets. Losses of Ukraine's exports to Kazakhstan are estimated at $208 million or 46%, Azerbaijan at $86 million or 19%, Turkmenistan at $60 million or 13%, Uzbekistan at $52 million or 11%, and China at $1 million. (om/ez)