Exports of goods from Ukraine reached $19.5 billion in the first half of the year

Exports of goods from Ukraine in January-June 2024 amounted to $19.5 billion, which corresponds to the same period in 2023. This was announced by Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka.

«International trade in goods in the first half of the year is stable compared to the first half of 2023. At the same time, the capacity for physical export volumes increased by 35% and amounted to 71 million tons in the first half of the year. Over the year, there was a significant correlation of prices for the main export commodities, which explains the phenomenon when the volume of exports in weight is much higher, but the revenue remains stable,» he said.

In June 2024, exports totaled $2.7 billion and 9.7 million tons after record-breaking April and May. The figures are down 18.4% and 20.2%, respectively, compared to the previous month.

«The main reason is the end of last year’s harvest. Corn was exported by 23.7% less in June, wheat by 40.8% less, and oil by 37.8%. In the top 10 exports, iron ore remained stable at 239 million tonnes (-1.5% m/m), poultry meat at 79 million tonnes (-3.5% m/m), flat products at 79 million tonnes (+7% m/m), and soybeans at 66 million tonnes (+45% m/m),» added Kachka.

Imports in June 2024 decreased by 5.6% m/m and amounted to $4.8 billion. In the first half of the year, imports reached $31.9 billion, up 4.9% y/y.

In 2023, Ukraine’s trade turnover amounted to $99.4 billion. 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).