Business news from Ukraine

Business news from Ukraine

Ukraine increased exports of ferroalloys by 15%

In January-September this year, Ukraine increased exports of ferroalloys in physical terms by 14.6% year-on-year to 325.066 thousand tons.

According to statistics released by the State Customs Service (SCS), exports of ferroalloys decreased by 42.5% to $281.397 million in monetary terms.

The main exports were to Poland (54.70% of supplies in monetary terms), Turkey (12.73%) and the Netherlands (8.55%).

In addition, in the period under review, Ukraine imported 5.916 thousand tons of these products, which is 65.2% less than in January-September 2022. In monetary terms, imports decreased by 62.2% to $24.141 million.

Imports were carried out mainly from India (22.05%), Armenia (17.96%) and China (15.46%).

As reported, in 2022, Ukraine reduced exports of ferroalloys in physical terms by 47.7% compared to the previous year – to 349,560 thousand tons, in monetary terms by 46% – to $ 564,136 million. At the same time, the main deliveries were made to Poland (53.25% of exports in monetary terms), the Netherlands (13.13%) and Romania (5.66%).

In addition, last year Ukraine imported 20.546 thousand tons of these products, which is 65.5% less than in 2021. In monetary terms, imports decreased by 59.1% to $72.705 million. Imports were carried out mainly from Norway (22.67%), China (15.60%) and Kazakhstan (14.10%).

The business of the Stakhanov and Zaporizhzhia Ferroalloy Plants (SZF and ZZF) was organized by PrivatBank (Kyiv) before the nationalization of the financial institution. Nikopol Ferroalloy Plant is controlled by EastOne Group, established in the fall of 2007 as a result of the restructuring of Interpipe Group, and Privat Group.

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Every ninth Ukrainian has been victim of fraud since beginning of full-scale invasion

Results of a large-scale survey by the National Bank and Opendatabot

Since the beginning of the full-scale invasion in Ukraine, the activity of cyber fraudsters has increased. Taking advantage of the situation and the difficult situation of citizens, criminals have adapted fraudulent schemes to the present and deceived people by pretending to be banks or promising financial assistance on behalf of the state, international and charitable organizations. Opendatabot, in partnership with the National Bank of Ukraine, has launched a large-scale educational project to find out how fraudsters work in wartime and teach Ukrainians how to counteract cyber fraud.

Opendatabot, together with the NBU, has developed an educational project for users of its services. More than 112.9 thousand users have completed the survey and training in the system.
The survey revealed that 11% of Ukrainians have been victims of fraud since the beginning of the full-scale invasion.

It turned out that most often criminals deceive young people (18-24) and people aged 65+.

According to the survey, Ukrainians were most often cheated when buying/selling goods online – every second respondent (52.74%) has experienced this. The second most popular fraudulent scheme is phishing links (18.57%). In 12.04% of cases, fraudsters hacked social networks, and in another 10.18%, they extorted information by phone, etc.

“During the war, fraudsters use the vulnerability of citizens, their anxiety, and difficulties. This can only be countered through awareness and critical thinking.

It is typical that most cases when citizens lose their money are caused by disclosure of their payment card details, one-time passwords to confirm transactions, and login information for online banking.

Half of the total amount of losses from payment card fraud was due to social engineering. They could have been avoided by remembering and following the rules of safe use of payment cards,” said Andriy Podderiogin, Director of the Payment Systems and Innovative Development Department.

According to him, the survey conducted by Opendatabot together with the National Bank will increase the effectiveness of the information campaign to combat payment fraud #ShahraiGudbay, which is being conducted by the National Bank together with the Cyber Police.

You can find out how protected you are from fraudsters by using the services of the Opendatabot.

Context.
In the first eight months of 2023, almost 60 thousand fraud proceedings under Article 190 of the Criminal Code of Ukraine were opened in Ukraine. This is more than even the total for the previous two years: 23.8 thousand proceedings were opened in 2021, and 32 thousand in 2022.

#ShahraiGudbay is an information campaign of the NBU and its partners aimed at educating Ukrainians on the rules of cashless and online payment security.

Epidemic season has begun in Kyiv

The epidemic season has begun in the capital, but the incidence rate is 2.5 times lower than the epidemic threshold, the Kyiv City State Administration (KCSA) reports.
“The epidemic season for influenza and ARVI began on October 2. During the 40th week of 2023, 9,519 patients with influenza and ARVI, including COVID-19, were registered in Kyiv,” the KCSA said on its website on Monday, citing the Kyiv City Center for Disease Control and Prevention of the Ministry of Health.
The incidence rate is reportedly 2.5 times lower than the epidemic threshold. Currently, the incidence rate is 322.4.
In particular, 5,786 children (62.8% of the total number of cases) and 3,733 adults (39.2%) have fallen ill. Schoolchildren account for 45.3% of the childhood morbidity rate. Last week, 109 people were hospitalized in the capital’s medical institutions, including 25 children and 84 adults. During this time, 820 people were vaccinated against influenza.
“387 people fell ill with COVID-19: 21 children under 17 and 366 adults. Of these, 29 were hospitalized, including 7 children and 22 adults. Four adults are in the intensive care unit. Two adult patients died from complications of COVID-19,” the Kyiv City State Administration informs.

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Inflation in Ukraine drops to 7.1% yoy

Consumer prices in Ukraine rose by 0.5% in September 2023, after declining by 1.4% in August and 0.6% in July, the State Statistics Service (Ukrstat) reported on Monday.

At the same time, inflation was recorded at 1.9% in September-2022, so in annual terms in September-2023 it fell to 7.1% from 8.6% in August and 11.3% in July.

In September, the State Statistics Service recorded core inflation at 0.9% after two months of being at zero.

Given that core inflation stood at 2.4% in September 2022, it also fell to 8.4% year-on-year in September 2023 from 10.0% in August and 12.3% in July.

Since the beginning of this year, inflation in the country has been 3.0%, with core inflation at 4.1%, the State Statistics Service said.

In the consumer market in September, prices for food and non-alcoholic beverages decreased by 0.5%. Vegetables fell the most (by 9.7%). Prices for fruits, processed cereals, rice, sunflower oil, fish, and fish products fell by 5.1-0.4%. At the same time, eggs went up by 12.3%, and prices for butter, sugar, meat and meat products, lard, bread, and milk rose by 1.3-0.5%.

Prices for alcoholic beverages and tobacco products increased by 0.7%, which was due to a 1.4% rise in the price of tobacco products.

Clothing and footwear went up by 7.8%, with footwear rising by 8.2% and clothing by 7.6%.

Transportation prices increased by 2.2%, mainly due to a 4.9% rise in fuel and oil prices. At the same time, railroad passenger transportation fell by 3.2%.

Education services went up by 9.9%, namely secondary education by 13.9%, higher education by 11.5%, and preschool education by 5.4%.

As reported, at the end of July, the National Bank of Ukraine again improved its inflation forecast for this year from 14.8% to 10.6%, but last week announced plans to further revise it downward.

In 2022, inflation is expected to rise to 26.6% from 10% in 2021, and core inflation to 22.6% from 7.9%.

Ukraine has increased copper imports by 90%

In January-September this year, Ukrainian companies increased imports of copper and copper products by 89.7% in value terms compared to the same period last year, to $90.098 million.

According to customs statistics released by the State Customs Service of Ukraine, exports of copper and copper products decreased by 22.8% to $55.019 million over the period.

In September, the company imported copper worth $12.810 million and exported $4.822 million.

In addition, in the first nine months of 2023, Ukraine reduced imports of nickel and products by 76.4% compared to the same period in 2022 to $11.632 million ($595 thousand in September), while imports of aluminum and aluminum products increased by 14.8% to $274.988 million ($31.004 million).

At the same time, it reduced imports of lead and lead products by 63.6% to $872 thousand ($151 thousand), imports of tin and tin products by 26.4% to $2.052 million ($419 thousand), but increased imports of zinc and zinc products by 20.4% to $33.988 million ($5.213 million).

Exports of aluminum and aluminum products in January-September of this year decreased by 5.6% compared to the same period last year to $71.630 million (in September – $8.344 million), lead and lead products increased by 19.4% to $11.190 million ($1.324 million), nickel and nickel products amounted to $256 thousand ($55 thousand), while in 9 months. 2022 it was $1,079 million.

Zinc was exported abroad for $88 thousand over nine months (no deliveries were made in September) against $1.302 million in January-September 2022. Exports of tin and products amounted to $57 thousand ($3 thousand in September) against $420 thousand in 9M2022.

As reported, in 2022, Ukrainian enterprises reduced imports of copper and copper products in value terms by 64.3% compared to the previous year – to $65.370 million, while their exports decreased by 56.3% to $90.245 million.

In addition, in 2022, Ukraine reduced imports of nickel and nickel products by 49.9% compared to 2021, to $59.754 million, and aluminum and aluminum products by 33.4%, to $340.398 million. At the same time, it reduced imports of lead and lead products by 66.6%, to $2.839 million.

Imports of tin and tin products fell by 33.5% to $3.312 million, and imports of zinc and zinc products decreased by 58.7% to $38.690 million.

In 2022, exports of aluminum and aluminum products decreased by 42.7% compared to 2021, to $96.972 million, lead and lead products – by 68.7%, to $11.970 million, and nickel and nickel products – by 73.9%, to $1.268 million.

Zinc exports in 2022 amounted to $1.331 million, while in 2021 they amounted to $550 thousand. Exports of tin and products in 2022 amounted to $424 thousand, compared to $346 thousand in the previous year.

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Ukraine cuts foreign exchange earnings from ferrous metal exports by 47.6%

In January-September of this year, Ukraine’s steelmaking companies reduced their earnings from ferrous metal exports by 47.6% year-on-year to $2 billion 79.713 million.

According to statistics released by the State Customs Service (SCS), ferrous metals accounted for 7.66% of total export revenues during this period, while in the first nine months of 2022, the share was 11.99%.

In September, revenues from exports of ferrous metals amounted to $258.675 million, while in the previous month – $200.016 million.

At the same time, Ukraine increased imports of similar products by 46.7% to $979.035 million in the first nine months of this year. In September, products worth $123.751 million were imported.

In addition, in January-September, Ukraine reduced exports of metal products by 13.8% year-on-year to $693.984 million. In September, exports were worth $68.742 million.

At the same time, imports of steel products increased by 29.4% to $605.218 million over the same period. In September, Ukraine received $89.645 million worth of these products.

As reported earlier, in 2022, Ukraine’s steelmaking companies reduced revenues from ferrous metal exports by 67.5% compared to 2021, to $4 billion 533.088 million. During this period, ferrous metals accounted for 10.26% of total revenues from exports of goods, compared to 20.49% in 2021. At the same time, last year Ukraine reduced imports of similar products by 38.3% to $954.387 million.

In addition, in 2022, Ukraine reduced exports of metal products by 18.6% to $1 billion 52.512 million. Imports of metal products fell by 42.9% to $643.162 million over the year.

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