Business news from Ukraine

Business news from Ukraine

Ukraine halved foreign currency earnings from ferrous metal exports in January-August

Ukrainian metallurgical enterprises in January-August this year reduced revenues from ferrous metal exports by 51.1% compared to the same period last year – to $1 bln 821.054 mln.

According to statistics released by the State Customs Service (SCS), ferrous metals accounted for 7.44% of total export revenues during this period, while in 8M-2022 – 12.86%.

In August, revenues from ferrous metals exports amounted to $200.016 million, while in the previous month – $206.685 million.

At the same time, Ukraine has increased imports of similar products by 53% – up to $855.284 million in eight months of this year. In August, $136.466 million worth of products were imported.

In addition, in January-August Ukraine reduced exports of metal products by 11% compared to the eight months of the previous year – to $625.707 million. In August they were exported for $65.114 million.

At the same time, imports of metal products for the first eight months of the year increased by 24.8% to $515.548 million. In August, Ukraine received $82.645 million worth of these products.

As reported, metal enterprises of Ukraine in 2022 decreased revenues from exports of ferrous metals by 67.5% compared to 2021, to $4 billion 533.088 million. Ferrous metals for this period accounted for 10.26% of total revenues from exports of goods against 20.49% for 2021. At the same time, Ukraine last year reduced imports of similar products by 38.3% to $954.387 million.

In addition, in 2022, Ukraine reduced exports of metal products by 18.6% to $1 billion 52.512 million. Imports of metal products for the year fell by 42.9% to $643.162 million.

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Number of unemployed people registered in public employment service as of 01.08.2023 (in thousands)

Number of unemployed people registered in public employment service as of 01.08.2023 (in thousands)

Source: Open4Business.com.ua and experts.news

In Morocco earthquake, hundreds of people killed

A strong earthquake with a magnitude of 6.8 has struck central Morocco, killing at least 296 people, BBC News reported.
According to the country’s interior ministry, people died in Marrakech and several areas to the south. “According to a preliminary report, the earthquake killed 296 people in the provinces and municipalities of Al-House, Marrakech, Ouarzazate, Azilal, Chichaoua and Taroudant,” the statement said, adding that 153 people were injured and hospitalized.
According to the US Geological Survey, the epicenter was in the High Atlas Mountains, 71 km (44 miles) southwest of Marrakech, at a depth of 18.5 km. The earthquake struck at 23:11 local time (22:11 GMT). A 4.9 magnitude aftershock occurred 19 minutes later.
In several videos on the network X (Twitter) shows how buildings collapsed, but their location could not be determined, writes BBC News. It is reported that local residents have decided to stay out of their homes in case the powerful tremors are repeated.

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Number of unemployed in Ukraine and job opportunities, July 22 – July 23

Number of unemployed in Ukraine and job opportunities, July 22 – July 23

Source: Open4Business.com.ua and experts.news

Most Ukrainians support domestic tourism

Since the beginning of Russia’s full-scale invasion of Ukraine on February 24, 2022, more than 45% of Ukrainians surveyed have traveled to the country for tourism purposes, the press service of the State Agency for Tourism Development (DART) reported on its Facebook page.

According to a study conducted by DART in partnership with the UNICEF U-Report Ukraine project, over the past year and a half, 26% of respondents have traveled to the country’s regions 1-2 times, 12% – 3-5 times. 7% of respondents have traveled to Ukraine more than five times.

At the same time, the head of GART, Mariana Oleskiv, whose words are quoted in the report, noted that domestic tourism during the full-scale invasion has become the basis for the country’s tourism industry as a whole.

“Traveling in Ukraine today is not only a way of recreation, but also a means of physical recovery and psychological relief – both for our defenders and their families, as well as for civilians. It is also a way to support the country’s economy, which today works exclusively for our defense,” said the head of GART.

According to the online survey, 21% of respondents said that by traveling they support the country’s economy, 23% of Ukrainians have not changed their attitude to traveling during the war, and 21% of travelers said they avoid any trips because of the possible danger.

Ukrainians travel most actively in summer – 48% of respondents. Only 4% travel in spring, almost 3% in autumn, and only 2% in winter.

The majority of respondents – 56% – said that the choice of season for traveling depends primarily on the time of vacation or holidays. 22% said that price influences their choice; weather conditions are also important for 22% of respondents.

More than half of the respondents (54%) prefer urban tourism and hiking. Excursions to historical monuments and museums are chosen by 28% of Ukrainians. 23% spend their time on the beach. Event tourism is also popular with 23% of respondents. Slightly fewer – 22% – like to travel the country to explore gastronomic specialties in the regions.

Active recreation is chosen by 16%, ecotourism by 11%, and recreational tourism by 9% of Ukrainians.

More than 5 thousand respondents aged 14 to 34 took part in the online survey about traveling in Ukraine during the war.

Ukraine plans to become major scrap exporter in 2023

In 2023, enterprises engaged in operations with ferrous metal scrap may increase the volume of scrap metal procurement by 20-25% compared to the previous year – up to 1.2-1.25 million tons.

Such a draft balance of scrap metal formation and consumption in the country for 2023 was recommended for approval by the majority of votes of the members of the working group under the Ministry of Strategic Industries of Ukraine.

At the meeting of the working group chaired by the First Deputy Minister Oleg Mozhny considered the issue of approval of the balance of formation and consumption of scrap metal in Ukraine for 2023. The meeting was attended by industry associations: the Ukrainian Association of Secondary Metals (UAVtormet), UAVtormetresurs, the Association of Enterprises “Ukrmetallurgprom”, the Association of Foundrymen of Ukraine (ALU), as well as industry experts and scientists.

According to the draft balance sheet, Ukraine will smelt 5.2-5.6 million tons of steel in 2023 (6.263 million tons were produced in 2022), harvest 1.2-1.25 million tons of scrap metal (in 2022 – 997 thousand tons), metal enterprises will consume 5.2-5.6 million tons of steel (in 2022 – 997 thousand tons). steel companies will consume 0.950-1 million tons of scrap metal (896 thousand tons), export 180-200 thousand tons of scrap metal (53.6 thousand tons), increasing the export of raw materials strategic for metallurgists by 3.4-3.7 times compared to last year.

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