Business news from Ukraine

Business news from Ukraine

Ukraine increased exports of iron ore by 3.4 times

16 February , 2024  

In January this year, Ukrainian mining companies increased exports of iron ore in physical terms by 3.36 times compared to the same period last year, up to 3 million 115.839 thousand tons from 927.433 thousand tons.

According to the statistics released by the State Customs Service on Friday, during the period under review, foreign exchange earnings from the export of iron ore increased by 2.7 times to $295.989 million from 110.857 million.

Exports of iron ore were carried out mainly to China (48.05% of supplies in monetary terms), Slovakia (13.65%) and Poland (10.48%).

Last month, Ukraine imported iron ore worth $7 thousand in a total volume of 9 tons, while in January-2023 it imported iron ore worth $1 thousand in a volume of 1 thousand tons. Imports in January-2024 came from Italy (100%).

As reported, in 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).

Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.

In 2022, Ukraine decreased exports of iron ore in physical terms by 45.9% compared to 2021 – to 23 million 984.623 thousand tons, while foreign exchange earnings decreased by 57.8% to $2 billion 912.974 million. Iron ore was exported mainly to Slovakia (19.23% of supplies in monetary terms), the Czech Republic (17.32%) and Poland (16.49%).

In 2022, Ukraine imported iron ore worth $65 thousand in a total volume of 101 tons, while in 2021 – $184 thousand in a volume of 1,202 thousand tons. Imports were carried out from Norway (36.92%), the Netherlands (27.69%) and the UK (16.92%).

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