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In monetary terms, iron ore exports fell by 32.8% in 4 months

According to the results of June 2022, Ukrainian mining and metals companies reduced the export of iron ore by 23% compared to the previous month, to 1.75 million tons, Deputy Minister of Economy of Ukraine Taras Kachka wrote on his Facebook.

In comparison with June 2021, the export of iron ore decreased by 2.45 times. In January-June, Ukrainian steelmakers shipped about 17 million tons of ore abroad, which is 24.1% less than in the same period last year.

In general, according to the results of the first half of the year, revenue from the export of goods from Ukraine fell by 23.7% compared to January-June 2021, to $22.8 billion. In the second quarter, the indicator fell by 37.4% compared to the first quarter, and by 45 .8% compared to the second quarter of 2021 – to $8.78 billion.

In natural terms, exports fell by 55.6% in January-June. In the second quarter, 16.6 million tons of goods were exported.

“Obviously, the main reason for the decrease of exports is the blockade of ports. Only in the second quarter, marine transportation in Ukraine fell by 86.5%, which is equal to about 21.6 million tons of cargo,” said Taras Kachka.

According to the Deputy Minister of Economy, exports increased in May and June compared to a sharp drop in March, in terms of both value and volume. In June, 5.8 million tons of cargo worth $3.18 billion were shipped.

“Geographically, exports are completely oriented towards the EU. 78% of our exports in the second quarter went to the European Union. The total value of exports to these countries for April-June amounted to $6.86 billion, which is 6.4% more than in the second quarter of 2021,” Taras Kachka summarized.

Trade with other countries decreased by 80% in the second quarter of this year.

After the invasion of Russia on the territory of Ukraine, steel companies reduced the export of products to a minimum due to the blockade of seaports.

At the beginning of May, iron ore exports via the Romanian port of Constanta has started. Cargo operator Comvex loaded about 35,000 tons of ore from Ukraine.

In addition, Romania plans to start the repair of a railway that run from the port city of Galaţi to the Moldovan border in the village of Giurgiulesti and connect the port of Reni in the south of Odesa region with the rest of the Danube ports. This railway line will make it possible to transport goods to and from Ukraine through Moldova and the port of Galati.

Earlier GMK Center reported that at the end of 2021 Ukraine reduced the export of ferrous metals by 4.2% compared to 2020, to 44.5 million tons. In monetary terms, the figure increased by 62.8%, to $6.9 billion.

The main producers of iron ore raw materials in Ukraine are Ingulets, Kryvyi Rih, Poltava, Northern, Central, Southern Minings, ArcelorMittal Kryvyi Rih, Sukha Balka Zaporizhzhia Iron Ore Plant.