Business news from Ukraine

Business news from Ukraine

Tourist tax increased by 23% to UAH 273 mln in 2024

In 2024, communities’ budgets received almost UAH 273 million in tourist tax, which is almost 23% more than in 2023 (UAH 222 million 618 thousand) and 53% more than in 2022 (UAH 178 million 949 thousand), the press service of the State Agency for Tourism Development (DART) reports.

Kyiv and five regions are among the leaders in paying the tourist tax.

The capital’s budget received the largest amount of tourist tax – UAH 49 million 182 thousand. In 2023, this amount amounted to UAH 30 million 378 thousand, and in 2022 – UAH 31 million 474 thousand.

The budget of Lviv region was replenished by UAH 47 million 108 thousand. This is almost as much as the amount of revenues received by the regional budget in 2023 – UAH 46 million 85 thousand. This amount is 14% higher than in 2022, when the budget of Lviv region received UAH 41 million 430 thousand of tourist tax.

In Ivano-Frankivsk region, the amount of tourist tax increased by 84% compared to 2023 – up to UAH 33 million 99 thousand, when the regional budget received UAH 17 million 956 thousand. In 2023, the region’s tourist tax amounted to UAH 20 million 408 thousand.

Cherkasy region received UAH 23 million 532 thousand in tourist tax. In 2023, the amount was slightly less – UAH 21 million 574 thousand, in 2022 it was 87% less – UAH 12 million 555 thousand.

The amount of tourist tax in Zakarpattia region last year amounted to UAH 23 million 93 thousand. It is almost the same as in 2023 – UAH 22 million 161 thousand, and 19% more than in 2022 – UAH 19 million 471 thousand.

Dnipropetrovska oblast closes the list of leaders with UAH 15 million 960 thousand. Compared to 2023, the amount of tourist tax in the region increased by 21% to UAH 13 million 219 thousand. In 2022, the region’s tourist tax amounted to UAH 9 million 210 thousand.

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Ukraine reduced copper imports by 17.9% in January

In January 2025, Ukrainian companies reduced imports of copper and copper products by 17.93% compared to the same period in 2024, to $13.815 million. At the same time, copper exports increased by 31.7% to $6.951 million during this period. In December 2024, copper imports amounted to $13.487 million, and exports amounted to $7.128 million.

Copper is widely used in electrical engineering, pipe manufacturing, alloys, medicine and other industries.

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“Elax” to pay UAH 50 mln in dividends to shareholders

Elax PrJSC (Kharkiv), one of the leading suppliers of products and integrated solutions in the field of automation and power supply for industrial enterprises, will pay UAH 50 million in dividends to shareholders based on the results of its operations in 2024 at the rate of UAH 62.5 thousand per share (par value UAH 1).

According to the company’s announcement in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), the decision was made by the general meeting of shareholders on February 17.
The dividend payment period is set from March 4 to July 27, 2025, and will be paid in installments of UAH 10 million.

The company does not disclose the amount of net profit in 2024 (in January-September 2024, according to Clarity Project, it amounted to UAH 39.34 million, retained earnings – UAH 103 million).
According to the NSSMC, as of the third quarter of 2024, the company’s shareholders were Iryna and Dmytro Kolchyk (69.625% and 30.375% of the authorized capital, respectively).

According to the company’s annual report, based on the results of its operations in 2023, dividends were paid in the amount of UAH 50 thousand per share for a total amount of UAH 40 million. In 2023, the company earned UAH 41.8 million in net profit (3.3 times more than a year earlier), with net income increasing 2.5 times to UAH 338.6 million.

Elax provides comprehensive services for the creation of automated process control systems (APCS) based on equipment from leading global manufacturers, develops power supply systems and performs electrical installation and commissioning.
In 2022, it partially relocated production to Rivne.

Customers of the company’s products and services include Metinvest, MHP, Kernel, Lactalis, Nestle, Dyckerhoff, and Zdorovye pharmaceutical company.
According to Clarity Project, in January-September 2024, the company increased its net income by 8% compared to the same period in 2023, to UAH 201.2 million, with net profit growing 2.5 times to UAH 39.3 million.

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Number of refugees from Ukraine in selected countries as of 31.10.2024

Number of refugees from Ukraine in selected countries as of 31.10.2024

Source: Open4Business.com.ua

Ukraine reduced tractor imports by 34% in early 2025

Imports of tractors to Ukraine in January this year amounted to $43.87 million, which is 34% less than in the same month in 2023, according to statistics from the State Customs Service.

According to the statistics released by the agency, tractors were mainly imported from China (21.2% of total imports of this equipment, or $9.3 million), Germany (5.5%, or $12.4 million), and the United States (10.7%, or $4.7 million), while a year earlier it was Poland (19.5%), Germany (19.3%), and the Netherlands (11%).

According to the statistics, in January, tractors were exported for $0.56 million against $0.3 million a year earlier, mainly to Zambia (41.4%), Romania (36.2%), and the Czech Republic (14%).

Imports of tractors to Ukraine in 2024 amounted to almost $784 million, down 5.6% from a year earlier, while exports amounted to $5.44 million against $5.74 million.

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Consumption of rolled steel in Ukraine increased 2.16 times in January

In January this year, Ukrainian enterprises increased their consumption of rolled metal products by 2.16 times compared to the same period last year, up to 297.1 thousand tons.

According to a press release from Ukrmetallurgprom, 103 thousand tons, or 34.67% of the domestic rolled metal consumption market, were imported during this period.

According to Ukrmetallurgprom, in January, steelmakers produced 480.2 thousand tons of rolled steel (up 7.2% year-on-year), of which, according to the State Customs Service of Ukraine, approximately 286.1 thousand tons, or 59.6%, were exported. In January 2024, the share of exports amounted to 88.4% (400.3 thousand tons with a total production of 453 thousand tons of rolled steel).

The share of semi-finished products in export deliveries in January 2025 was 28.21%, which is half the figure for January 2024 (55.65%). The share of flat products in export deliveries in January this year significantly exceeded the same period last year – 54.35% and 33.55%, respectively. The share of long products is also significantly higher this time: 17.44% in January 2025 compared to 10.80% in the same period in 2024.

The structure of imports in January 2025 is still characterized by a significant dominance of flat products over long products (86.50% and 10.78%, respectively); in January 2024, the dominance of flat products over long products was also significant (83.90% and 15.16%, respectively).

“In January 2025, the domestic market capacity amounted to 297.1 thousand tons of rolled steel, of which 103 thousand tons, or 34.67%, were imported. In January 2024, the domestic market capacity was 137.8 thousand tons, of which 85.1 thousand tons, or 67.76%, were imported. Thus, in January 2025, there was an increase in the domestic market capacity by 115.61% compared to January 2024, while the share of the import component decreased by 27.09%,” the press release states.

According to the State Customs Service, the main export markets for Ukrainian rolled metal products in January 2025 are the European Union (69.6%), the rest of Europe (12.4%) and Africa (7.7%).

Among metallurgical importers in January 2025, the first place is occupied by other European countries (61.3%), followed by the EU-27 (24.7%), and the third – by Asian countries (13.8%).

As reported, Ukraine’s rolled steel market in 2024 decreased by 6.26% year-on-year to 3 million 288.4 thousand tons, while in 2023 it increased 2.19 times compared to 2022 to 3 million 505.6 thousand tons.