Ukraine reduced ferrous metals export revenue by 12.7% in March

Revenue fell by 14.8% in Q1

Revenue of Ukrainian steelmaking companies from exports of ferrous metals dropped by 12.7% to $662.129 million in March 2020 against March last year,

according to Interfax-Ukraine with reference to the customs statistics provided by the State Tax Service of Ukraine.

In Q1 this year, foreign currency earnings of steelmakers from exports of ferrous metals decreased by 14.8% to $2.057 billion compared to the same period of the previous year.

The share of ferrous metals in the structure of foreign currency earnings of the country in Q1 2020 declined to 16.79% of total revenue from exports of goods against 19.69% in the first three months of the past year.

In 2019, exports of ferrous metals from Ukraine fell by 12.1% to $8.7 billion compared to the same period a year earlier.