ECA supported exports for 5.7 billion UAH in 9 months

For 9 months of 2024, the Export Credit Agency of Ukraine (ECA) supported exports worth UAH 5.7 billion. This was reported by the First Vice Prime Minister – Minister of Economy Yulia Svyridenko.

According to her, this is almost UAH 2.6 billion, or 1.8 times more than in the same period last year.

«It is important that insurance tools from ECA are actively used by producers from various industries – from the food industry and mechanical engineering to woodworking and light industry. This support strengthens Ukraine’s export potential,» said Yulia Svyridenko.

In total, ECA supported businesses from 12 regions of Ukraine and Kyiv this year. The leaders in terms of supported exports were:

• Kyiv – UAH 2.9 billion;
• Lviv region – UAH 1.16 billion;
• Vinnytsia region – UAH 702 million.

In January-September, Ukrainian exporters who benefited from ECA support sent their products to Poland (1.5 billion UAH), Azerbaijan (831.7 million UAH) and the UAE (822 million UAH).

In September of this year, ECA supported UAH 719 million of exports. Ukrgasbank became the leader in the volume of export financing provided to entrepreneurs in the specified period (UAH 188 million, UAH 531 million of future export revenue). Oschadbank is in second place, PrivatBank is in third place.

In September, ECA’s opportunities to insure export credit were most used in Vinnytsia, Ternopil and Poltava regions – the sums of insured contacts amounted to UAH 459.5 million, UAH 121.5 million and UAH 50.8 million, respectively

In addition, in September, the agency insured against military and political risks the first investment loan in the amount of UAH 9 million, supporting an investment in the amount of UAH 45.72 million.

As GMK Center reported earlier, Ukrainian exporters increased their physical product sales by 36.2% in January-September 2024 compared to the same period in 2023, up to 99.3 million tons.

In the third quarter, exports amounted to 28.2 million tons, which is 36% more compared to the same period last year. Export revenue reached $9.3 billion (+20.1% y/y). At the same time, in September, export volumes decreased by 12.6% m/m, but the monthly turnover became the largest for the quarter.