In 2024, Ukraine demonstrated an increase in foreign trade, but there are still problems that limit its opportunities in international markets. The lack of a sufficient number of enterprises with deep processing, complex logistics, and the impact of global economic processes pose serious challenges for Ukrainian business.
Maksym Urakin, founder of the Experts Club information and analytical center, and Yevheniia Lytvynova, president of the Ukrainian Exporters Club, analyzed the trends of 2024 and assessed the development prospects for 2025.
Trade balance: export growth but large deficit
According to experts, the total volume of Ukraine’s foreign trade in 2024 reached USD 113 billion, which is 13% more than in 2023.
Key figures:
Despite the growth in exports, the main problem remains a significant trade deficit. This indicates that the economy is dependent on imports, which puts additional pressure on the hryvnia exchange rate and requires finding new solutions to increase exports of high value-added products.
“Despite the positive dynamics of exports, Ukraine is still dependent on imports, especially in the field of technology and equipment. The negative balance remains a serious challenge for our economy,” said Yevheniya Lytvynova.
Main trading partners: Poland, Spain, Germany
Experts Club has compiled a list of Ukraine’s top 10 trading partners in terms of exports:
1. Poland – 4.7 billion dollars
2. Spain – 2.9 billion dollars
3. Germany – 2.8 billion dollars
4. China – 2.3 billion dollars
5. Turkey – 2.1 billion dollars
6. The Netherlands – 1.98 billion dollars
7. Italy – 1.93 billion dollars
8. Egypt – 1.6 billion dollars
9. India – 986 million dollars
10. Moldova – $935 million
“In 2024, Spain unexpectedly ranked second among importers of Ukrainian products. This is partly due to the high demand for Ukrainian products due to the migration of Ukrainians. However, it should be borne in mind that a significant portion of these exports is re-exported via European countries,” explained Maksym Urakin.
At the same time, China has traditionally been in the lead among Ukraine’s top 10 importers:
1. China – $14.4 billion
2. Poland – $7 billion
3. Germany – 5.4 billion dollars
4. Turkey – 4.72 billion dollars
5. USA – 2.86 billion dollars
6. Italy – 2.27 billion dollars
7. Bulgaria – 2.22 billion dollars
8. India – 1.88 billion dollars
9. Czech Republic – 1.78 billion dollars
10. France – 1.75 billion dollars
Export structure: Ukraine remains a supplier of raw materials
Food products account for the largest share of exports – about $25 billion. Other main products include metals (about $5 billion) and equipment ($4 billion).
“Ukraine continues to export mostly raw materials. This means that the main profit from processing and added value remains abroad. We need reforms that will allow us to develop domestic production and processing,” emphasized Yevheniya Lytvynova.
Import structure: machinery, chemicals, fuel
In 2024, the largest categories of imports were machinery and equipment ($25 billion), chemicals ($11.7 billion), and energy ($8.9 billion).
“The main share of imports is aimed at supporting business rather than the consumer market. This means that companies are actively upgrading production and importing machinery,” explained Maksym Urakin.
New markets: opportunities and obstacles
In 2025, many Ukrainian companies are planning to enter the markets of the Middle East, Africa and Asia more actively. In particular, a free trade agreement is expected to be signed with Turkey, which will make the country an even more important trading partner.
“Turkey is already one of Ukraine’s top five partners. If the FTA is ratified, we will see an even greater increase in trade turnover,” emphasized Yevgeniya Lytvynova.
At the same time, global protectionism and trade wars may create additional challenges. The United States has already begun to impose new duties on imports from Canada, Mexico and China.
“If the US imposes additional duties, it could lead to a chain reaction in global trade, and price increases will affect even Ukraine. Our companies should be ready to adapt to the new realities,” said Maksym Urakin.
What should Ukrainian businesses do?
When it comes to the main recommendations for exporters in 2025, the experts identified the following areas:
1. It is necessary to diversify markets by balancing exports to the EU with the simultaneous development of the Middle East, Asia and Africa.
2. Develop processing by reducing exports of raw materials and expanding sales of high value-added products.
3. Increase competitiveness by adapting production to the requirements of foreign markets.
4. Preparing for changes in global trade by adapting the strategy in response to possible duties and trade barriers.
“We have to learn to play by the rules of global competition. If Ukrainian exporters are not ready for changes, the market will be quickly taken over by someone else,” summarized Yevgeniya Lytvynova.
You can learn more about Ukraine’s foreign trade in 2024 in the video: https://www.youtube.com/watch?v=tFxad1mplE0&t
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ECONOMY, EXPERTS CLUB, EXPORTERS CLUB, EXPORTS, IMPORTS, TRADE, URAKIN, ЛИТВИНОВА
PJSC Production Association Konti, one of the leaders in the Ukrainian confectionery market, ended 2024 with a loss of UAH 98.58 million, which is 6.8 times less than in 2023, according to the agenda of the general meeting of shareholders scheduled for April 15.
According to the published information, the shareholders plan to cover the losses at the expense of future years’ profits.
The shareholders are proposed to take into account, among other things, the conclusions of the audit report for 2024, the report of the executive body on the results of the reduction of the company’s equity capital, and to approve an action plan to improve the financial condition of the company.
According to the Opendatabot service, in 2024, PJSC PAO Conti’s revenue decreased by 29.6% to UAH 273.259 million, while its debt obligations decreased by 0.6% to UAH 1.604 billion. Assets depreciated from UAH 455.855 million to UAH 337.676 million. The number of employees decreased by 82 people to 182. The authorized capital of the company is UAH 54.052 million.
The company’s beneficiaries are Boris and Svetlana Kolesnikov, who own 24.99% of the shares. Among the shareholders with large stakes are Tatyana Akhmetova-Aydarova (6.9%), Sergey Kiy (9.9%), Vyacheslav Lyashko (9.9%), Raisa Tactasheva (7.4%), and Yucher LLC (9.9%).
PJSC Production Association Conti is one of the largest confectionery brands in Ukraine. The company was founded in 1997 in Konstantinovka, Donetsk region. The company’s assortment includes about 200 product names, including: sandwich cookies, complex desserts, boxed and weighted candies, sponge cake, rolls, bars, caramel, crackers and cookies. The company’s key brands are: Super Kontik, Bonjour KONTI, Timi, Amour, BiSKonti and Jack. It is sold in all regions of Ukraine and exported to more than 10 countries, including the USA, Germany, Poland, Latvia, Greece, Iraq, Georgia, Estonia, Moldova, etc.
On Thursday, in the presence of Ukraine’s Minister of Agrarian Policy and Food Vitaliy Koval, Italian Ambassador to Ukraine Carlo Formosa signed an agreement with the International Center for Advanced Mediterranean Agronomic Research in Bari (CIHEAM) to launch the €9 million Pro.UKR project.
The Italian embassy toldInterfax-Ukraine that the agreement aims to promote sustainable agricultural development and food security in the agricultural areas of Odesa region.
The project, which will strengthen the production, technical and organizational capacities of local agricultural producers, livestock enterprises and cooperatives, will be fully implemented in Odesa, a city over which Italy has taken patronage for recovery, demonstrating Italy’s commitment to one of the regions most affected by the war. The program, developed jointly with the Ministry of Agrarian Policy and Food of Ukraine and technical experts from Odesa Oblast, will include the provision of tools for production in the fields of agriculture and livestock, the introduction of new technologies and sustainable irrigation systems.
“The agri-food sector is one of the key components for Ukraine’s economic recovery, particularly in the agricultural areas where small businesses have been particularly hard hit by the conflict. Italy reaffirms its support through a concrete project aimed at strengthening food security and promoting sustainable agricultural development,” said Ambassador Formosa.
The Pro.UKR program is part of a broader effort by Italy to support the recovery of Ukraine and the Odesa region, with the aim of contributing to the country’s economic and social resilience in the current difficult environment.
The Board of Directors of the Ukrainian agricultural holding KSG Agro has sold 700 thousand shares owned by the company to a new partner in accordance with the company’s development strategy and in order to increase the participation of new investors in new projects.
“KSG Agro still owns 800 thousand shares in the company,” the agricultural holding said in a statement on the Warsaw Stock Exchange (WSE).
The name of the new partner was not disclosed.
Taking into account the total number of shares, it means the sale of 4.66% and retention of 5.33% of the company’s shares.
On Thursday, KSG Agro’s share price on the WSE decreased by 0.25% to PLN4.07 per share ($1.05 at the current exchange rate), which corresponds to a capitalization of PLN60.53 million ($15.62 million).
As reported, KSG Agro in February this year announced the purchase of 10% of its own shares from its major shareholder Olbis Investments Ltd, Sergey Kasyanov, to diversify and expand its investment activities in the EU markets. Olbis Investments’ stake is now 47.97%.
In January-September 2024, KSG Agro agricultural holding generated $16.8 million in revenue, up 41% year-on-year. Its EBITDA for the three quarters of last year decreased by 4% to $4.38 million, and its net loss amounted to $0.8 million against a net profit of $1.34 million for the same period in 2023.
Reaching a peace agreement that is fair and sustainable will allow the EU to increase its focus on financing recovery, European Economic Commissioner Valdis Dombrovskis said.
“Obviously, we will then need to discuss with the Ukrainian authorities and see how we adjust our funding from international donors, obviously, because one of the main assumptions in this assessment of funding needs is always the question of how long the war is going on, what the intensity is, and so on,” he told reporters at a press conference on Thursday following his visit to Kyiv.
Dombrovskis emphasized that the EU, for its part, is ready to adjust its funding both in the context of, for example, a reduction in US military aid and in the context of progress in a ceasefire or peace agreement.
He reminded that the EU’s Ukraine Facility program is currently designed to support Ukraine until 2027, while the ERA loan mechanism from G7 partners at the expense of frozen Russian funds is designed to cover part of 2026.
“And then, of course, we will need to see if and how much additional funding is needed. Usually, this process is organized in such a way that the IMF has to assess the financing needs for Ukraine, and then international donors work on how we cover these financing needs,” the European Commissioner explained.
According to him, this program usually starts somewhere in the middle of the year, because, obviously, all this is surrounded by very high uncertainty.
In 2024, the French residential real estate market went through a period of adjustment and stabilization after the previous price increases. According to the National Institute for Statistics and Economic Research (INSEE), in the third quarter of 2024, secondary housing prices fell by 3.96% year-on-year, the fifth consecutive quarter of decline.
Key trends in 2024:
Declining prices: In the Ile-de-France region, including Paris, secondary housing prices fell by 5.24% year-on-year, reaching €6,150 per square meter. In Paris itself, the decline was 5.56%, with an average price of €9,520 per square meter.
Decrease in investment activity: Investments in rental property declined significantly due to rising interest rates and tightening credit conditions.
Shortage of rental housing: There was an acute shortage of affordable rental housing in major cities, especially in Paris, which made it difficult for students and young professionals to find accommodation.
Forecast for 2025:
Experts expect the French residential real estate market to continue to stabilize in 2025. The National Real Estate Federation of France (FNAIM) predicts that prices will stabilize in the first half of 2025, and in the second half of the year, growth of 1% year-on-year will begin.
However, the market recovery will depend on lower mortgage rates and improved financing conditions, which will increase purchasing power. Geopolitical events and domestic housing policy will also play an important role.
Thus, 2024 was a watershed year for the French real estate market, marked by significant price adjustments, but also by the first signs of stabilization. Industry professionals expect a gradual recovery, which will depend on macroeconomic factors and government policy.
http://relocation.com.ua/rynok-zhytlovoi-nerukhomosti-frantsii-u-2024/
