Business news from Ukraine

Business news from Ukraine

Ukraine increased bauxite imports by 77% in 2024

In 2024, Ukraine increased imports of aluminum ore and concentrate (bauxite) in physical terms by 77.4% year-on-year to 35.173 thousand tons.

According to statistics released by the State Customs Service, bauxite imports in monetary terms increased by 74% to $4.107 million during the period.

The imports came mainly from Turkey (78.48% of supplies in monetary terms), China (19.48%) and Spain (1.9%).

Ukraine did not re-export bauxite in 2024, as well as in 2023.

As reported, in 2022, Ukraine reduced imports of aluminum ore and concentrate (bauxite) in physical terms by 81.5% compared to the previous 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%).

In 2023, Ukraine imported 19,830 thousand tons of bauxite worth $2.360 million.

Bauxite is an aluminum ore 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.

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In 2024, almost UAH 600 billion of customs payments were transferred to the state budget of Ukraine

In 2024, the customs authorities transferred UAH 591.7 billion to the state budget in taxes paid by Ukrainian businesses and individuals both during and after customs clearance of goods. Compared to 2023, the state budget revenues increased by 28.7% or UAH 132 billion.

Customs duties on imports of goods account for more than 99% of the taxes paid. In total, last year, the customs authorities cleared 31.26 million tons of foreign goods imported into Ukraine, which is 1.9% or 0.59 million tons more than in 2023.

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A significant increase in customs revenues in 2024, compared to 2023, was recorded for imports of

– petroleum products (gasoline, diesel fuel) – from UAH 90.3 billion in 2023 to UAH 142.3 billion in 2024 (+ UAH 52.0 billion)
– electricity – from UAH 1.5 billion in 2023 to UAH 7.2 billion (+ UAH 5.7 billion);
– passenger cars – from UAH 40.8 billion in 2023 to UAH 44.2 billion (+ UAH 3.4 billion);
– Coal and anthracite – from UAH 1.3 billion in 2023 to UAH 3.2 billion (+ UAH 1.9 billion);
– medicines – from UAH 4.2 billion in 2023 to UAH 5.8 billion (+ UAH 1.6 billion);
– Electric generating sets – from UAH 1.2 billion in 2023 to UAH 2.8 billion (+ UAH 1.6 billion);
– trucks – from UAH 6.4 billion in 2023 to UAH 7.9 billion (+ UAH 1.5 billion);
– petroleum gases – from UAH 10.9 billion in 2023 to UAH 12.3 billion (+ UAH 1.4 billion);
– telephone sets – from UAH 7.4 billion in 2023 to UAH 8.8 billion (+ UAH 1.4 billion);
– parts and devices of vehicles – from UAH 5.2 billion in 2023 to UAH 6.6 billion (+ UAH 1.4 billion).

For more information on the commodity structure of imports in 2024, the dynamics of the tax burden, the number of importers-taxpayers and the factors that influenced the state budget revenues, please see https://is.gd/5A33tk

Switzerland ready to host Trump-Putin meeting

Switzerland is ready to host a meeting between Presidents Donald Trump and Vladimir Putin if they request it, Le Temps reported on Saturday, citing a Swiss Foreign Ministry spokesman.

“Since the Burgenstock summit, Ukraine, Russia and the United States have been regularly informed of our readiness to support any diplomatic efforts aimed at establishing peace,” Le Temps quoted Nicolas Bideau, head of the Foreign Ministry’s communications department, as saying.

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Ukraine increases imports and exports of aluminum

In 2024, imports of aluminum and aluminum products increased by 21.7% to $446.006 million (in December – $36.943 million). Exports of aluminum increased by 27.4% to $124.408 million, compared to $8.426 million in December.

Aluminum is widely used as a structural material. The main advantages of aluminum are its lightness, stamping resistance, corrosion resistance, high thermal conductivity, and non-toxicity of its compounds. In particular, these properties have made aluminum extremely popular in the production of cookware, aluminum foil in the food industry, and packaging. The first three properties have made aluminum the main raw material in the aviation and aerospace industries (recently it has been replaced by composite materials, primarily carbon fiber). After the construction and production of packaging, such as aluminum cans and foil, the energy sector is the largest consumer of the metal.

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January’s parade of planets: unique spectacle without telescope

From January 21 to January 25, the night sky will present a rare and magical spectacle – a large-scale parade of planets. Six celestial bodies will be lined up in one line: Mars, Jupiter, Uranus, Venus, Neptune and Saturn. By the end of the month, Mercury will join them, completing the cosmic symphony.

Astronomers assure that a telescope is not required to observe this natural wonder. The main thing is to choose a place away from city lights and wait for a clear sky.

Do not miss the opportunity to witness a rare phenomenon that will remind you of the greatness of the Universe!

Freight transportation by rail, million tons

Freight transportation by rail, million tons

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