Ukraine exported $2.97 billion worth of goods in July

Compared to June, exports in monetary terms increased by 9%

Ukraine exported $2.97 billion worth of goods in July this year. This was announced by Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka.

Exports in monetary terms increased by 9% compared to June 2024.

At the same time, the physical volume of exports in July decreased by 0.6% m/m. The main reason for this is a seasonal “shift” in the crops exported by Ukraine. In particular, the volume of exported corn has further decreased, while supplies of wheat and rapeseed abroad have increased, and barley exports are reviving.

As for exports of metallurgical products, in July Ukraine increased exports of semi-finished products by 83% compared to June, to 219 thousand tons. According to Taras Kachka, this is the best figure since the war.

In July, exports by sea decreased by 0.4% m/m – to 6.25 million tons, and by rail by 3% m/m – to 2.6 million tons. At the same time, exports by road increased by 5.5% m/m – to 825 thousand tons in the period under review.

In terms of geographical distribution, Kachka notes that $1.67 billion (56%) of exports in July this year were to the EU. Among the countries of the bloc, Poland (358 million), Spain (190 million), Germany (178 million), the Netherlands (147 million) and Italy (136 million) are the leaders in purchasing Ukrainian products.

Exports to China in July decreased by 3.1% compared to the previous month. However, its volumes remain the largest among other non-EU countries at $175 million. In July, exports to Egypt increased by 17.5% – to $143 million, to Turkey – by 32.7%, to $134 million, and to India – by 137%, to $89 million.

The top 10 non-EU export recipients are the Republic of Moldova ($87 million), Lebanon ($44 million), Algeria (39.5 million), the United States ($39.2 million), Israel ($39 million), and Indonesia ($38.5 million). In July this year, imports in monetary terms amounted to $5.3 billion, including $120 million worth of electricity imported by Ukraine last month.

In January-June 2024, Ukraine’s steel enterprises increased revenues from ferrous metal exports by 3.6% compared to the same period in 2023, to $1.46 billion, according to the State Customs Service.