State Tax Service of Ukraine

Untimely VAT refund is a systemic problem for Ukrainian economy and steel sector

Iron and steel exporters are being stripped of vital working capital due to questionable actions by Ukrainian tax authorities

Ukraine produced 317 thousand tons of ferroalloys in 6 months

Production of manganese concentrate in January-June fell by 21%

Ukraine in January-June reduced the export of titanium ores by 46%

In monetary terms, the export of raw materials for six months decreased by 21.1%

Ukrainian steelmakers reduced semi-finished exports by 55% in 4 months

In monetary terms, exports of steel products decreased by 44.9%

Ukraine in January-April reduced exports of ferroalloys by 89%

In money, meanwhile, exports grew by 58.5%

Ukraine’s revenues from exports of iron & steel jumped 37% in January

Over the month, export revenues amounted to $1.02 billion

Ukraine’s revenues from iron ore exports grew 63% in 2021

In physical terms, however, iron ore exports fell 4.2%

Ukraine decreased exports of semi-finished products by 9.5% in 2021

At the same time, export revenues rose by 48.8%

Ukraine’s revenues from iron ore exports declined by 20% in November

Iron ore export volumes grew 18% in the same period

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