Ukraine in January-November 2021 increased imports of oil and petroleum raw materials (according to foreign economic activity code 2709) by 17.3% (by 199,077 tonnes) compared to the same period in 2020 – to 1.350 million tonnes.
According to the State Customs Service, over 11 months, raw materials worth $ 694.733 million were imported, which is 1.8 times more than in January-November 2020 ($ 377.031 million), including from Azerbaijan – for $ 485.761 million, Algeria – for $ 100.146 million, Libya – for $ 92.303 million, other countries – for $ 16.523 million.
In addition, Ukraine in January-November 2021 exported 89,963 tonnes of oil to Romania for $ 27.133 million. This volume was exported in March by the international trader Trafigura. The resource was purchased from JSC Ukrtransnafta, which, in turn, in the spring of 2020 bought it at a decline in prices for subsequent resale.
The export of oil and crude oil by Ukraine in January-November 2020 amounted to 80,000 tonnes for $ 24.351 million. Exports were carried out to Belarus by Ukrtransnafta, which in the spring of 2020, amid the decline in prices, bought Azerbaijani oil with its subsequent sale to its subsidiary BNK.
Olhopil agricultural firm (village of Olhopil, Vinnytsia region) has put into operation on the territory of its farm Roksana-K (village of Melnykivtsy, Vinnytsia region) a Bonfanti grain dryer with a capacity of 400 tonnes per day, operating on combustion sunflower pellets instead of traditional natural gas, according to the website of the agricultural firm.
“The dryer operates on sunflower pallets, which allows both to save money and to take care of the environment, because emissions are much less. Wheat, peas, corn and sunflower are dried with the dryer,” the company quotes its co-owner Pavlo Kalenych in a message.
According to the agricultural firm, together with the grain dryer, an elevator was built on the territory of the farm with a capacity for simultaneous storage of up to 10,000 tonnes of grain crops.
The company’s website states that Olhopil agricultural firm cultivates 5,000 hectares in Chechelnyk district of Vinnytsia region.
The company grows grain and industrial crops: wheat, barley, soybeans, rapeseed, corn, sugar beets, oats, sunflower, and is also engaged in \ commercial production of grain seeds. Its elevator capacity is 32,000 tonnes of one-time storage.
In addition, Olhopil has a dairy farm and a dairy processing plant that produces products under the Villa Milk trademark.
Oxford Economics has worsened its expectations for real GDP growth in Ukraine to 3.5% in 2021 from 4% in the August forecast, as well as the forecast for economic growth in 2022 – to 3.4% from 3.5%. The European Bank for Reconstruction and Development (EBRD) kept its forecast for Ukraine’s economic growth in 2021 at 3.5%, according to its November forecast released on Thursday.
Ukraine’s real gross domestic product (GDP) in the third quarter of 2021 increased by 2.4% compared to the third quarter of 2020 after growing by 5.7% in the second quarter of this year, the State Statistics Service published such preliminary estimates.
The growth of the Ukrainian economy in 2021, taking into account the preliminary data of the State Statistics Service for the third quarter, may turn out to be at the level of 3% against 4.6% set in the state budget for this year, which will mean the absence of payments on value recovery instruments (VRI) in 2023, according to experts interviewed by Interfax-Ukraine.
Ukraine’s GDP in January-September 2021 grew by 2% compared to the same period last year, Head of the Council of the National Bank of Ukraine (NBU) Bohdan Danylyshyn has said. J.P. Morgan has sharply downgraded its forecast for real GDP growth in Ukraine in 2021 from 4.5% to 2.3%, while maintaining its forecast for GDP growth in 2022 by 5%, according to the materials of the November EMEA Emerging Markets Research. Analysts at Morgan Stanley have lowered their estimate of Ukraine’s GDP growth in 2021 to 3% from 3.4% in the October outlook, the growth forecast for 2022 has been lowered to 3.5% from 4.2%, according to the outlook materials.
Ukraine’s GDP growth in 2021 may be lower than the 3.1% previously predicted by the central bank, Deputy Governor of the National Bank of Ukraine (NBU) Serhiy Nikolaichuk has said.
The International Monetary Fund (IMF) has downgraded its estimate of Ukraine’s GDP growth in 2021 to 3.2%, compared with 3.5% in the October forecast, according to Ukraine’s memorandum with the fund, released on November 24.
The surplus of the foreign trade of Ukraine for January-September 2021 increased by 95.7% compared to January-September 2020 – up to $440 million.
The deficit of Ukraine’s foreign trade in goods in January-September 2021 decreased by 37.9% compared to January-September 2020, to $ 1.966 billion from $ 3.166 billion, the State Statistics Service of Ukraine has reported.
The growth of consumer prices in Ukraine year-over-year in October 2021 decreased to 10.9% from 11% in September, the State Statistics Service reported.
The total public debt of Ukraine in October 2021 grew by 0.66% in U.S. dollars and amounted to $92.63 billion, while it decreased by 0.28% in hryvnias, to UAH 2.438 trillion.
After a 0.7% decline in September in October 2021, industrial production in Ukraine returned to growth and grew by 1.4% compared to October 2020, the State Statistics Service reported.
Real wages in Ukraine increased by 4% in October 2021 y-o-y, and decreased by 2.2% compared to September of this year.
Publisher of “Open4Business”, PhD in Economics, Maksim Urakin
Dniprospetsstal electrometallurgical plant (Zaporizhia) in January-November this year increased output of finished rolled products, according to recent data, by 0.7% year-over-year, to 142,000 tonnes.
As a representative of the enterprise told Interfax-Ukraine, steel production during this period decreased by 2.9%, to 199,000 tonnes.
In November, 12,000 tonnes of steel and 10,000 tonnes of rolled products were produced.
As reported, Dniprospetsstal in 2020 increased output of finished rolled products by 1.3% compared to 2019, to 154,000 tonnes, and steel by 2.7%, to 225,000 tonnes.
Dniprospetsstal is the only Ukrainian manufacturer of long products and forgings from special grades of steel: stainless, tool, high-speed, bearing, structural, as well as from heat-resistant nickel-based alloys.
Swiss International Air Lines plans to launch regular flights on the Zurich-Odesa route.
According to the official Facebook page of the Swiss Embassy in Ukraine, the start of flights was announced on July 4, 2022.
According to the schedule, flights will be operated on Mondays and Thursdays.
Swiss International Air Lines, also known as SWISS, is Switzerland’s largest airline. It operates regular flights to European countries, North and South America, Africa and Asia. It is a member of the Star Alliance, a global airline passenger transportation alliance.
