Forecast of dynamics of changes in Ukrainian GDP in % for 2022-2025 in relation to previous period
Open4Business.com.ua
In January-November of this year, Ukraine’s metallurgical enterprises increased their revenues from ferrous metal exports by 18.06% year-on-year to $2 billion 872.572 million.
According to statistics released by the State Customs Service (SCS) on Monday, ferrous metals accounted for 7.48% of total export revenues during this period, compared to 7.38% in January-November 2023.
In November, revenues from exports of ferrous metals amounted to $207.343 million, while in the previous month – $265.72 million.
At the same time, Ukraine increased imports of similar products by 14.3% to $1 billion 370.375 million in the first eleven months of this year. In November, the country imported products worth $118.267 million.
In addition, in January-November 2024, Ukraine increased exports of metal products by 6% to $871.007 million. In November, they were exported for $71.998 million.
Imports of metal products increased by 16% to $960.596 million over the same period. In November, these products were imported for $75.395 million.
As reported earlier, in 2023, Ukraine’s steelmaking companies reduced revenues from exports of ferrous metals by 41.6% compared to 2022, to $2 billion 647.72 million, with ferrous metals accounting for 7.3% of total revenues from exports of goods in this period, compared to 10.3% in 2022. At the same time, in 2023, Ukraine increased imports of similar products by 37% to $1 billion 307.05 million.
In addition, last year, Ukraine reduced exports of metal products by 16.6% year-on-year to $877.92 million, while imports of metal products increased by 40.3% to $902.57 million.
Since the beginning of the 2024-2025 marketing year and as of December 9, Ukraine has exported 18.981 mln tonnes of grains and pulses, of which 606 tonnes were shipped this month, the press service of the Ministry of Agrarian Policy and Food reported, citing data from the State Customs Service of Ukraine.
According to the report, as of December 13 last year, the total shipments amounted to 14.697 mln tonnes, including 1.6 mln tonnes in December.
In terms of crops, since the beginning of the current season, Ukraine has exported 9.115 million tons of wheat (121 thousand tons in December), 1.866 million tons of barley (4 thousand tons), 10.8 thousand tons of rye (0), and 7.684 million tons of corn (475 thousand tons).
The total export of Ukrainian flour since the beginning of the season as of December 9 is estimated at 33.3 thsd tonnes (1.6 thsd tonnes in December), including 30.5 thsd tonnes of wheat (1.5 thsd tonnes).
According to the expert, about 100,000 tons of fireproof paints, plasters and other products may be needed to restore destroyed real estate.
Research by the Kyiv School of Economics and USAID shows that 90% of the construction materials needed to rebuild Ukraine can be produced locally. At the same time, the director of Kovlar Group, the largest Ukrainian manufacturer of fireproofing materials that produces Ammokote products, said that the total capacity of domestic fireproofing manufacturers far exceeds the expected demand during the reconstruction.
“As of today, fire protection materials worth about UAH 1 billion are needed to rebuild the destroyed facilities,” said Konstantin Kalafat, ”At the same time, the use of locally produced products will not only help develop Ukraine’s construction industry and create new jobs, but will also help investors save a lot of money, as Ukrainian products are much cheaper than imported counterparts.
Established in 2015, Kovlar Group is the largest Ukrainian manufacturer of fire protection products, which occupies about 60% of the Ukrainian fire protection materials market and offers more than 20 products under the Ammokote brand.
Established in 2015, Kovlar Group is the largest Ukrainian manufacturer of fire protection, which occupies about 60% of the Ukrainian fire protection materials market and offers more than 20 products under the Ammokote brand.
Kovlar Group LLC was founded in 2015, its authorized capital is UAH 1.2 million, and its ultimate beneficiaries are Kostiantyn Kalafat (40%), Andrii Ozeychuk (35%), and Liubov Vakhitova (25%). According to the company’s annual reports, in 2023, the company received UAH 42 million 585 thousand in revenue, which is more than four times higher than in 2022; net profit for 2023 was UAH 7.7 million against a net loss of UAH 1.6 million in 2022.
fire protection materials, Kovlar Group, RECONSTRUCTION, Калафат
The National Commission for State Regulation in the Spheres of Energy and Public Utilities (NKREKU) plans to set from January 1, 2025 the tariff of Ukrenergo for electricity transmission in the amount of 678.58 UAH/MWh (hereinafter without VAT). The corresponding draft resolution of the NERCU was submitted to its meeting on Wednesday, December 10.
Thus, the transmission tariff, if approved, will be 28.4% higher than the current one in 2024 (528.57 UAH/MW*h) and 2% higher than the one approved at the meeting on November 13 (665.26 UAH/MW*h).
According to the justification of the new project, the expenses for NEC’s fulfillment of special obligations to pay for “green” electricity, which occupy the largest share in the tariff, have been increased by almost UAH 1.5 bln. If in the project approved in November, UAH 23.7 billion was allocated to support industrial renewable energy generation, in the updated version – UAH 25.1 billion. As explained by the regulator, the updated forecasted volume of electricity supply by producers under the feed in tariff mechanism introduced in 2024 along with the feed in premium mechanism is taken into account.
The volume of payment for electricity from domestic SES remained at the previously approved level – UAH 6.98 bln. For comparison: in 2024 these figures amounted to 12.3 billion UAH and 3.93 billion UAH, respectively.
Also, the justification, in particular, indicates that the recalculation of the tariff is based on the performance of the NEC for 9 months of 2024, and not half a year, as was done earlier.
Nevertheless, the tariff planned for consideration on Tuesday is 13% less than the one initially proposed by Ukrenergo (UAH 780.41/MWh).
In addition, at Tuesday’s meeting, the energy regulator plans to set the tariff for electricity transmission for green metallurgy at 351.90 UAH/MWh, which is almost at the level of the approved one, as well as the tariff for dispatching at 92.26 UAH/MWh, which is 3% lower than the approved one.
As reported, on November 13, the regulator approved the reduction of Ukrenergo’s tariff for electricity transmission for 2025 for green metallurgy by 3.3% compared to the current one – to 352.73 UAH/MW*h (now 364.7 UAH/MW*h), as well as the tariff for dispatching by 9%, to 95.07 UAH/MW*h (now 104.57 UAH/MW*h).
In a blitz interview with Energoreforma in early October, the head of Ukrenergo, Oleksiy Brekht, said that the NEC proposes a tariff for electricity transmission for 2025 in the amount of 780.41 UAH/MWh, and expressed hope that the system operator and the national regulator will be able to reach an agreement on its establishment in order to be able to pay for electricity from industrial RES plants, which is underfunded in the tariff by about half.
At that time Brecht noted that “our task for the next year is to reach a break-even tariff, with the possibility for the company to ensure its tasks on the electricity market in full”. At the same time, he admitted that “discussion with the regulator will reduce the tariff a bit.”
The industry traditionally opposes an increase in the transmission tariff.
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