Exports of goods from Ukraine increased by 36.2% y/y in January-September

Positive export indicators are observed in steel industry and agriculture

In January-September 2024, Ukrainian exporters increased physical sales of products by 36.2% compared to the same period in 2023 – up to 99.3 million tons. This was announced by Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine.

In the third quarter, exports amounted to 28.2 million tons, up 36% year-on-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 revenue was the highest for the quarter.

Positive export performance was observed in many industries. In particular, the iron and steel sector increased shipments of semi-finished products to 1.5 million tons (+65.5% y/y), hot-rolled flat products – to 1.1 million tons (+86.2% y/y), pipes – to 338 thousand tons (+52.2% y/y), and iron ore – to 25.2 million tons (+2 times y/y) over 9 months.

In January-September, cement exports increased by 31% y/y – to 1.3 million tons, corn exports – by 16.2% y/y, to 25.2 million tons, and wheat exports – by 42.4% y/y, to 16 million tons.

Imports for 9 months amounted to $49.2 billion. The largest volumes were oil and oil products ($5.1 billion), cars ($3.27 billion), medicines ($1.4 billion), phones/smartphones/tablets ($904 million), UAVs ($904 million), and electricity ($527 million).

As GMK Center reported earlier, Ukraine’s trade turnover amounted to $99.4 billion in 2023. In particular, the country imported $63.5 billion worth of goods and exported $36 billion. Taxed imports amounted to $52.6 billion, which is 83% of the total volume of imported goods. The largest share of imports was accounted for by machinery, equipment and transport ($19.8 billion), and exports were food products ($21.8 billion).