This year’s growth has been even more impressive. In the first five months of 2013, Ukraine more than tripled last year’s total exports to Belize, including some $740 million worth of oil products.
Put differently, exports of oil products to Belize, an offshore tax haven where 40 percent live below the poverty line, reached almost $1 billion in eight months. Since Ukrainian legislation does not subject such deals to export or excise duties, experts note that re-exporting oil products to offshore countries can be an easy way to evade taxes.
The numbers are certainly astounding when compared to the situation at home. In January-May of 2013, Ukraine imported 2.04 million tons of oil products and produced another 854,800 tons of gasoline and diesel for a total of about 2.9 million tons.