The value of Ukrainian exports in 2023 decreased by 18.7% compared to 2022 and amounted to $35.8 billion, which is one of the lowest figures in the last decade, First Deputy Prime Minister and Economy Minister Yulia Sviridenko said on Facebook on Thursday.
“Logistics continues to be the key for Ukrainian exports. With all the problems and challenges, Ukraine exported 99.8 million tons of goods. This is 112 thousand tons more than in 2022,” – summed up the results of the year first Deputy Prime Minister.
According to her, the success of December should be noted: for the first time in the second half of the year exports by value exceeded $3 billion – $3.148 billion, and by weight for the first time since March became more than 10 million tons – 10.399 million tons.
Sviridenko specified that this was achieved due to the growth of exports by sea in December by 30.7% compared to November – up to 7.34 million tons, and in total for 2023 exports by sea increased by 1 million tons compared to the previous year.
According to her, since exports by the new Ukrainian sea corridor is available not only for grain, but for all goods, in December exports of metal and semi-finished products jumped by 40%, flat rolled products – by 45.3%.
At the same time, pointed out the head of the Ministry of Economy, due to the Polish blockade of borders and further reduced exports by road transport: 18.3% less in December compared to November, although the overall year-on-year reduction amounted to only 0.7%.
“The increase in exports by container transportation – 86% by rail and 36% by road – is very pleasing. This is the most efficient mode of transportation for value-added products,” Sviridenko added.
Separately, First Deputy Prime Minister emphasized the increase in exports of furniture in 2023 both in volume and in monetary terms – respectively by 11% and 7%, as well as the growth of sugar exports by 1.7 times.
At the same time, she said, there was a drop in the size of revenue of the most massive export commodity by volume – corn (26.2 million tons): with a physical growth of 5%, revenue fell by 16.8%. “The problem is not only the fall in the world price. The arithmetic average price of Ukrainian corn – $188 – was significantly less than the arithmetic average world price – $227. The $39 difference is a discount due to problems in logistics and the flow of profits to neighboring countries – Poland and Romania, from where most of our grain is resold,” – said Sviridenko.
As for imports, according to the head of the Ministry of Economy, they amounted to $62.2 billion. The top 10 goods imported to Ukraine included fuel – $7.8 billion, “miscellaneous (where not advertised)”” – $3.7 billion, medicines – $1.7 billion, UAVs – $681 million, cars and goods for agriculture (fertilizers and plant protection products).
Sviridenko added that the goods trade deficit is indeed significant at $26.4 billion, but such changes are logical given the logistical challenges and defense needs in 2023.
As for the goals for 2024, the first deputy prime minister expects to return export volumes to the level of 2021, strengthen export logistics with air defense systems, and develop more alternative logistics options so that there is a possibility to maneuver in case of difficulties.
She is confident that if the pace is kept up, the Economy Ministry predicts that exports of goods and services will generally grow in the following years: by 9% in 2024, 19.4% in 2025 and 20.6% in 2026.
“And, of course, I cannot fail to mention our trade agreements, which improve access of Ukrainian goods to foreign markets. In 2023, we signed a digital trade agreement with the UK. We are awaiting ratification of the agreement with Canada. At the finish line is the ratification of agreements with Turkey, for which we have done additional work to improve its provisions. And soon we are waiting for an official announcement on the successful conclusion of negotiations on the UAE,” Sviridenko added.
