Geographical structure of Ukraine’s foreign trade (imports) in January-October 2024, million USD
Source: Open4Business.com.ua
Elworthy JSC, a major Ukrainian manufacturer of sowing and tillage equipment based in Kropyvnytskyi, plans to increase its sales by 25% in 2025 compared to 2024, to UAH 712 million.
These plans are contained in the company’s interim report for 2024. The company also plans to break even.
The report does not contain the company’s financial indicators for the whole of 2024, but according to the data published in it for January-September 2024, the loss decreased by almost 4.8 times compared to the same period in 2023 – to UAH 12.45 million, with a slight increase in revenue – to UAH 424.2 million.
In addition, the interim report states that in the fourth quarter of 2024, revenue amounted to UAH 146.321 million, with an export share of 25.9%. The main export markets are Eastern Europe and Central Asia (Kazakhstan, Kyrgyzstan).
Seeders account for the largest share in sales (153 units for UAH 49.6 million in the fourth quarter), followed by cultivators (72 units for UAH 17.5 million), construction and road machines (4 units for UAH 11.15 million), sprayers (14 units for UAH 8 million), and harrows (36 units for UAH 7.9 million). The company also produced spare parts worth UAH 15.12 million.
Elworthy JSC considers its main competitors in the production of agricultural machinery to be, among others, Ukrainian companies Veles-Agro, Belotserkovmaz, Favorit, Promagroleasing-Ukraine, Remsyntez, Agromash Kalyna, Boguslavska Sihosptekhnika, LKMZ, and Maschio Gaspardo (Italy).
The company has a dealer network of 35 centers located both in Ukraine and abroad. They are authorized as service centers, which allows them to provide maintenance services in addition to selling equipment.
“2024 was an extremely difficult year for Ukraine’s agricultural sector, in particular due to the lack of precipitation in the second half of the year, which led to a decrease in the amount of harvest and an increase in its cost. At the same time, the ability of farmers to make money on this harvest will depend on the world prices at which they will be able to sell their products, which are also subject to uncertainty,” the report says.
In addition, Elworthy pointed to the risk that with a smaller harvest, prices for agricultural products may not rise, agricultural producers will receive less marginal income and will not be able to purchase agricultural machinery.
Elvorti JSC, a part of the Elvorti Group owned by businessman Pavlo Stutman, specializes in the production of sowing and tillage equipment: seeders for sowing grain and row crops, cultivators for continuous and inter-row tillage, and disk harrows for resource-saving tillage.
In recent years, the company has mastered a new type of product – the Elex backhoe loader.
According to the company, in 2023, it suffered an 81.6% year-on-year loss of UAH 85.9 million, with net income falling by 34.3% to UAH 490.7 million.
At the beginning of 2025, the company employed 372 people.
As of March 3, Ukraine exported 29.202 mln tonnes of grains and pulses since the beginning of 2024-2025 marketing year (MY, July-June), of which 84 thsd tonnes were shipped this month, the press service of the Ministry of Agrarian Policy and Food reported, citing the data of the State Customs Service.
According to the report, as of March 4 last year, the total shipments amounted to 29.951 mln tonnes, including 270 thsd tonnes in March.
In terms of crops, since the beginning of the current season, Ukraine has exported 12.014 million tons of wheat (31 thousand tons in March), 2.126 million tons of barley (0), 10.8 thousand tons of rye (0), and 14.62 million tons of corn (53 thousand tons).
The total export of Ukrainian flour since the beginning of the season as of February 26 is estimated at 47.8 thsd tonnes (4.2 thsd tonnes in February), including 44.1 thsd tonnes of wheat (3.9 thsd tonnes).
China’s exports in January-February 2025 reached a record $540 billion, up 2.3% year-on-year, Bloomberg reports. However, the country’s imports unexpectedly fell by 8.4%, leading to a significant trade surplus of $171 billion.
According to analysts, the growth in exports is partly due to accelerated deliveries as Chinese companies seek to circumvent possible new trade barriers from the United States. The U.S. administration is considering additional tariffs on Chinese goods, which could affect the competitiveness of Chinese products.
China remains the largest exporter in the world, supplying products to a wide range of industries. Among the key export products:
Electronics and technology – smartphones, computers, semiconductors.
Machinery – industrial machines, cars and components.
Consumer goods – clothing, footwear, household appliances.
Metals and chemicals – aluminum, steel, plastics.
Renewable energy – solar panels, lithium-ion batteries.
Services – IT development, digital platforms, logistics.
The drop in imports may indicate weak domestic demand, as well as China’s desire to develop self-sufficiency in strategic industries.
British residential property prices rose by 2.9% year-on-year in February, the slowest pace since July last year, according to consultancy Halifax. Analysts surveyed by Trading Economics had on average expected a 3.1% rise.
The revised data also showed a rise of 2.9% in January, rather than the 3% previously announced.
In monthly terms, prices fell 0.1% after rising 0.6% in January.
As a result, the average cost of a property in the country was 298,602 thousand pounds ($385,400).
“February’s data reflects the balance of the British housing market,” said Amanda Bryden, head of Halifax’s mortgage division. – The frenzied demand for mortgages ahead of April’s rise in government fees is waning. Despite the housing affordability challenge, market activity remains strong and prices are expected to rise moderately this year on the back of tight supply and steady demand.”
Verdi, the united union of service workers, which includes employees at Germany’s largest airports, has called on its members for a one-day warning strike on March 10. The union is forced to resort to protest action because of employers’ unwillingness to meet workers’ demands in collective bargaining, it said in a statement posted on its website.
The union is seeking an 8 percent wage increase, or at least 350 euros a month, as well as an increase in bonuses for heavy work and additional days off.
The protests will affect 11 airports, including Munich, Frankfurt, Cologne, Hamburg and Berlin.
Germany’s airport association ADV warned that the strike could disrupt the plans of hundreds of thousands of passengers.
“Holding strikes at 11 airports simultaneously cuts off an entire country from air traffic,” said ADV managing director Ralf Beisel. – “We urge Verdi to take the interests of passengers into account and seek a negotiated settlement.
“The economic damage caused by such strikes is enormous and affects not only the airline industry, but the entire economy in an already extremely strained economic situation,” he added.
Apart from airlines and airports, other industries will also be affected due to flight cancellations and delays. Hotels, caterers and retailers in the affected regions could suffer significant revenue losses. When flights are canceled or delayed, the entire supply chain also suffers, according to a statement published on the ADV website.
