In 2024, Ukraine increased its exports of agricultural products to the European Union by 11%, according to the EU’s report on trade in such products last year.
“The EU continued to import agricultural food products from various trading partners, with Brazil, the United Kingdom, and Ukraine being the main sources. Imports increased from Côte d’Ivoire, Ukraine and Nigeria, while they decreased from Russia and Australia,” the report, the full text of which is published on the European Commission’s website, says.
According to the published statistics, Ukraine was the third source of imports of agri-food products to the EU in 2024 (8% of the total value of imports). Agricultural imports from Ukraine to the EU increased by 11% compared to 2023 (+EUR1.3 billion) and reached EUR13 billion. This was mainly due to an increase in the share of two key commodities in imports: vegetable oils (EUR3 billion in 2024, +EUR946 million compared to 2023), and oilseeds and protein cereals (EUR3.1 billion, +EUR709 million).
At the same time, imports of Ukrainian grains to the EU decreased by 12% in value (to EUR 4.5 bln) due to lower prices, but their volume increased by 6% year-on-year.
At the same time, the total volume of European agricultural imports in 2024 reached a record high of EUR171.8 bln (+8% compared to 2023, or +EUR12.4 bln).
In terms of consumption of European agricultural exports, Ukraine ranks 13th with EUR3.634 billion, which is about 2% of the EU’s total agricultural exports (EUR235.4 billion). At the same time, in terms of consumption of European imported agricultural products, Ukraine showed an increase of 5% compared to 2023, when the country imported agricultural products worth EUR3.461 billion from the EU.
In January-March this year, Ukraine increased imports of coke and semi-coke in physical terms by 90.3% year-on-year to 212,366 thousand tons from 111,600 thousand tons.
According to statistics released by the State Customs Service (SCS) on Tuesday, coke imports in monetary terms increased by 59.2% to $68.025 million during this period. It was imported mainly from Poland (84% of supplies in monetary terms), Indonesia (14.06%) and the Czech Republic (1.92%).
Ukraine did not export coke in the period under review.
As reported, Metinvest suspended the Pokrovske Coal Group in January this year due to changes in the situation on the frontline, electricity shortages and the deteriorating security situation.
Last year, Ukraine increased imports of coke and semi-coke in physical terms by 2.01 times compared to 2023, to 661.487 thousand tons, mainly from Poland (84.76% of supplies in monetary terms), Colombia (7.74%) and Hungary (2.69%). In monetary terms, imports increased by 81.9% to $235.475 million.
In 2024, the country exported 1,601 thousand tons of 84.76% coke for $368 thousand to Moldova (99.18%) and Latvia (0.82%), while in January, March, October and November 2024, there were no exports, while in 2023, exports amounted to 3,383 thousand tons for $787 thousand.
First Vice Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko and Ambassador Jacques Gerber, delegate of the Swiss Federal Council for Ukraine, signed an agreement amending the memorandum of understanding between the Ministry of Economy of Ukraine and the Swiss State Secretariat for Economic Affairs (SECO), which provides for a doubling of funding for recovery projects in Ukraine to CHF100 million.
As the press service of the Ministry of Economy reported on Tuesday, the document formalizes the decision of the Swiss Confederation to increase support for the competition for projects to restore Ukraine. The competition is open to Swiss companies that are already operating in Ukraine and can help in its recovery.
According to both sides, the interest of businesses was so high that they decided to double the funding at once.
“The high interest from Swiss business is a clear signal that our intergovernmental agreements are working. The additional CHF50 million will be allocated to projects in the areas of civilian protection, infrastructure restoration and development of the public utilities sector, as well as the modernization of public services. We are particularly interested in developing cooperation in the fields of energy, transport, housing, water supply, healthcare, industrial engineering, and education,” the press service quoted Svyrydenko as saying.
It is noted that the signed agreement opens up new opportunities for the implementation of joint projects under the intergovernmental initiative, which was launched in early 2025. The allocated funds are part of a broader CHF1.5 billion assistance program for Ukraine from Switzerland for 2025-2028. In total, Switzerland plans to invest CHF5 billion in a 12-year support program.
According to Jacques Gerber, the decision to increase funding is the result of close and trusting cooperation between Ukraine and Switzerland.
“Last week I visited Chernihiv, and last year I saw the scale of destruction in Kharkiv. Ukraine’s needs for recovery and reconstruction are enormous. At the same time, Swiss companies continue to operate in Ukraine despite all the challenges. They create jobs and pay taxes to the state budget of Ukraine. They also want to contribute to the country’s recovery,” Gerber explained.
The Ministry of Economy recalled that a memorandum of understanding between the Ministry and SECO on the implementation of a competition for projects for the economic recovery and reconstruction of Ukraine in cooperation with Swiss companies was signed on January 23, 2025, during the World Economic Forum in Davos.
The Ministry of Economy added that Switzerland is one of Ukraine’s key partners in the construction process. In April 2014, the Swiss government announced a program of long-term support for Ukraine totaling 5 billion francs for 12 years.
Analysts at Deutsche Bank have also improved their gold price forecasts for 2025 and 2026 amid geopolitical and foreign trade uncertainty, which is contributing to increased demand for the protective asset. Experts expect gold to cost an average of $3140 per troy ounce this year and $3700 per ounce in 2026. The previous forecast was $2725 and $2900 per ounce, respectively. At the end of 2025, experts estimate that gold will cost $3350 per ounce.
Deutsche Bank’s forecast for 2026 is the most optimistic among the world’s leading banks.
Quotes of June gold futures on the Comex exchange are growing by 1.6% – to $3022 per ounce. On the eve of the precious metal price fell below the psychologically important mark of $3000 per ounce.
One of the factors supporting gold is the active demand for precious metals from the central banks of the world. According to Deutsche Bank estimates, central banks now account for about 24% of global demand for gold against 10% in 2022.
Last week, HSBC analysts improved their gold price forecast for 2025 to $3015 per ounce, but in 2026 they expect quotes to fall to $2915 per ounce.
Total dedicated reinsurance capital rose 5.4% last year to a new high of $769 billion, driven by growth in both traditional and alternative capital, according to the Reinsurance News website, citing data from reinsurance broker Gallagher Re. According to Gallagher Re’s analysis, dedicated reinsurance capital rose from $730 billion at the end of 2023 to $769 billion at the end of 2024.
From this new high, capital for companies that account for more than 80% of the industry’s capital increased 5.3% to $629 billion. Gallagher Re attributes this to retained earnings and high net income of $117 billion, somewhat offset by return of capital of $58 billion and amortization of unrealized investments of $23 billion.
Meanwhile, alternative reinsurance capital, which excludes life, accident and health and mortgage insurance, rose 6.6% year-over-year to $114 billion thanks to a record year for the catastrophe bond market.
“In addition to growth on an accounting basis, global reinsurers’ capital adequacy remains strong on an economic basis, a metric that Gallagher Re sees as better suited for decision-making by management teams,” the company said.
In January-March this year, Ukraine increased imports of aluminum ore and concentrate (bauxite) in physical terms compared to the same period last year – up to 8.219 thousand tons from 123 tons.
According to statistics released by the State Customs Service (SCS) on Tuesday, bauxite imports in monetary terms increased 8.6 times during this period, to $891 thousand from $104 thousand.
At the same time, imports were carried out mainly from Turkey (81.37% of supplies in monetary terms) and China (18.63%).
Ukraine did not re-export bauxite in 2025, as well as in 2024 and 2023.
As reported, in 2024, Ukraine increased imports of bauxite in physical terms by 77.4% compared to the previous year – up to 35.173 thousand tons, in monetary terms – by 74% – up to $4.107 million. Imports were carried out mainly from Turkey (78.48% of supplies in monetary terms), China (19.48%) and Spain (1.9%).
In 2023, Ukraine imported 19,830 thousand tons of bauxite for $2.360 million.
In 2022, Ukraine reduced imports of aluminum ore and concentrate (bauxite) in physical terms by 81.5% year-on-year to 945,396 thousand tons. Imports of bauxite in monetary terms decreased by 79.6% to $48.166 million. Imports were mainly from Guinea (58.90% of supplies in monetary terms), Brazil (27.19%) and Ghana (7.48%).
Bauxite is an aluminum ore that is used as a raw material to produce alumina, which is used to make aluminum. They are also used as fluxes in ferrous metallurgy.
Mykolaiv Alumina Plant (MAP) imports bauxite to Ukraine.
