Business news from Ukraine

Business news from Ukraine

Ukraine set export record in October, reaching $3.8 bln

4 November , 2024  

In October 2024, Ukraine exported a record volume of goods worth more than $3.8 billion, which is 18.7% more than in September this year, First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko said.
“A significant increase in exports in October was made possible by an increase in the supply of agricultural products. In October, exports of agricultural products increased by 32.3% in value and 33.8% in weight. This made it possible to increase the physical volume of exports to 10.9 million tons, which is 26.2% more than in September this year. We owe these achievements to our defenders, who ensure the operation of the sea corridor despite threats from the enemy. In October, exports by sea grew by 28.2% in monetary terms and 37.1% in weight,” the press service of the Ministry of Economy quoted her as saying.
According to Svyrydenko, according to preliminary data, since the beginning of 2024, exports of goods have totaled almost $34.6 billion.
“Given the current dynamics of exports in goods, we can predict with some caution that this year’s exports in monetary terms will exceed last year’s figures. Let me remind you: In 2023, it was $36.2 billion. In terms of physical volumes, we have already exported more in the first 10 months of 2024 than in the whole of last year. This is 110 million tons in total for 10 months of this year, compared to 100 million tons in 2023,” the Minister of Economy explained.
Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine, said that in October, Ukraine exported the most sunflower, safflower or cottonseed oil in monetary terms – by $447.2 million, or 481.3 thousand tons, corn – by $447.2 million, or 481.3 thousand tons. tons, corn – by $363.6 million, or 1.9 million tons, respectively, wheat – by $318.2 million, or 1.6 million tons, soybeans – by $260 million, or 675 thousand tons, rapeseed – by $239.2 million, or 476.3 thousand tons, iron ore and concentrates – by $166.8 million, or 2.5 million tons.
Ukrainian producers exported most of their goods to Poland, Germany, Spain, Italy, Italy, and Turkey. Overall, in October, Ukraine exported $2.38 billion worth of goods to the EU, up 15.8% compared to September.
“The European Union is Ukraine’s key trading partner. That is why we are making every effort to provide our exporters with the most favorable conditions for access to European markets and integration of Ukrainian producers into European value chains,” summarized the Ukrainian trade representative.