Business news from Ukraine

Business news from Ukraine

Ukraine reduced iron ore exports by a third, revenue by 54%

16 September , 2022  

Mining enterprises of Ukraine in January-August of this year reduced the export of iron ore raw materials (IORM) in kind by 32.8% compared to the same period last year, to 20 million 10.602 thousand tons.
According to statistics published by the State Customs Service (STS), for the specified period, foreign exchange earnings from the export of iron ore decreased by 53.8% – to $ 2 billion 529.275 million.
Iron ore was exported mainly to Slovakia (19.82% of deliveries in monetary terms), Poland (16.49%) and the Czech Republic (15.95%).
During the reporting period, IORM was imported to Ukraine for $26 thousand in a total volume of 47 tons, while in January-August 2021, iron ore for $158 thousand was imported in a total volume of 1.175 thousand tons. Imports for January-August 2022 were carried out from Norway (46.15%), Great Britain (42.31%) and Italy (7.69%).
As reported, Ukraine in 2021 reduced the export of iron ore raw materials (IORM) in physical terms by 4.2% compared to 2020 – up to 44 million 357.727 thousand tons, but increased revenue by 62.8% – up to $6 billion 899.816 million The export of iron ore was carried out mainly to China (41.90% of supplies in monetary terms), the Czech Republic (9.65%) and Poland (7.99%).
Last year, IORM was imported to Ukraine for $184 thousand in a total volume of 1.202 thousand tons, while in 2020 123 tons of iron ore for $75 thousand were imported. Imports for 2021 were carried out from Egypt (55.98%), the Netherlands ( 21.2%) and Poland (7.07%).

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