Ukraine intends to increase exports to $77 billion in the next 5 years

Ukraine intends to increase its exports to $77 billion over the next five years. This was stated by Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka during an international trade forum in Kyiv, Ukrinform reports.

According to him, the main emphasis in the new strategy for the development of domestic exports will be placed not just on a quantitative increase in supplies abroad, but on increasing the production and export of goods with higher added value.

The strategic goals of the future export strategy presented by Taras Kachka at the forum are as follows.

1. Increasing exports and improving their structure;
2. Strengthening state capacities, institutions and tools to address the challenges of export development, including expansion to target markets;
3. Creating favorable conditions for export activities.

As noted, each of them includes operational goals and will have measurable KPIs.

The draft of the new national Export Strategy is currently under development and will be presented for public discussion in April.

It is expected that the new Export Strategy until 2030 will be a roadmap not only for the state, international partners, but also for business – associations, clusters and alliances that play an increasingly important role in export development.

During the forum, Taras Kachka also noted that the metal-rolling industry experienced the largest decline in exports among all domestic sectors in 2021-2024, reaching $5.4 billion, Interfax-Ukraine reports.

According to the data presented, the top 3 product groups that have suffered the largest export losses in monetary terms over the past four years also include iron ores/concentrates ($4.1 billion) and semi-finished steel products ($3.17 billion).

As for pig iron, the decline amounted to $1.14 billion, and ferroalloys – $955 million.

As for the structure of Ukrainian exports of goods, in 2024, 66.3% were raw materials and low-tech products (compared to 52% in 2021), 10.4% were steel sector and steel processing (24.2%), and 8.4% were machine-building products (8.9%).

In 2024, the Export Credit Agency (ECA) supported UAH 7.53 billion of exports, and one hryvnia of its responsibility brought UAH 7.52 of future export revenue.