Ukraine increased exports by sea transport by 30.7% m/m in December

In December this 2023, Ukraine exported 7.34 million tons of cargo by sea, First Deputy Prime Minister and Minister of Economy Yulia Sviridenko said.

According to Ms. Svyrydenko, this figure is up 30.7% compared to November. Exports by sea are growing thanks to the joint efforts of the Ukrainian government and international partners.

In general, in 2023, Ukraine increased exports by sea by almost 1 million tons compared to 2022. As noted, in addition to grain, other goods, including steel, are exported via this route. After the launch of the alternative maritime corridor, exports of products in this group increased. In December 2023, the export of semi-finished products increased by 40% m/m, and flat products – by 45.3% m/m.

According to the Ministry of Economy, exports by road are declining, the main reason for this is the Polish border blockade. In December 2023, compared to November, the figure fell by 18.3%, and overall, it decreased by 0.7% for the year. Negotiations are ongoing at all levels to resolve the problem.

In total, Ukraine exported almost 100 million tons of goods in 2023, which is 112 thousand tons more than in 2022. In monetary terms, the figure fell by 18.7% y/y – to $35.8 billion. Imports in monetary terms increased by 12.5% – to $62.2 billion in 2023.

As the First Deputy Prime Minister noted, a significant deficit in trade in goods was observed in 2023 – in the amount of $26.4 billion. It was caused by problems in logistics and defense needs in 2023. In 2024, the government will continue to work on strengthening export logistics with air defense systems and the search for new ways of exporting goods and services, and will also promote the localization of military-industrial complex enterprises in the country.

As GMK Center reported earlier, Ukrainian export to the European Union during the year and a half of the Agreement on the Liberalization of Freight Transportation between Ukraine and the EU (transport visa-free) increased by 47.5% compared to the same period before its signing. In 2022, the export of Ukrainian goods by road to the EU increased by 40% y/y. Road imports increased by 11% year-on-year last year, and by 25% in 2023 compared to 2021.