Business news from Ukraine

Business news from Ukraine

Ukraine cuts iron ore exports by 1.2% in 2025

In January-February of this year, Ukrainian mining companies reduced exports of iron ore in physical terms by 1.2% compared to the same period last year, to 5 million 595.706 thousand tons.

According to the statistics released by the State Customs Service on Tuesday, foreign exchange earnings from iron ore exports decreased by 18.7% to $449.388 million during this period.

Exports of iron ore were carried out mainly to China (46.50% of supplies in monetary terms), Poland (17.35%) and Slovakia (14.31%).

In January-February 2025, Ukraine imported iron ore worth $1 thousand in the amount of 5 tons from Italy.
As reported, in 2024, Ukraine increased its exports of iron ore by 89.8% compared to 2023 – up to 33 million 699.722 thousand tons, while foreign exchange earnings increased by 58.7% to UAH 2 billion 803.223 million.

In 2024, Ukraine imported iron ore for $414 thousand in a total volume of 2,042 thousand tons, while in 2023, 250 tons of this raw material were imported for $135 thousand.

In 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). In 2023, Ukraine imported iron ore worth $135 thousand in a total volume of 250 tons.

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Iron ore exports from Ukraine fell by 1.2% in two months of 2025

In January-February of this year, Ukrainian mining companies reduced exports of iron ore in physical terms by 1.2% compared to the same period last year, to 5 million 595.706 thousand tons.

According to the statistics released by the State Customs Service on Tuesday, foreign exchange earnings from iron ore exports decreased by 18.7% to $449.388 million during this period.

Exports of iron ore were carried out mainly to China (46.50% of supplies in monetary terms), Poland (17.35%) and Slovakia (14.31%).

In January-February 2025, Ukraine imported iron ore worth $1 thousand in the amount of 5 tons from Italy.

As reported, in 2024, Ukraine increased its exports of iron ore by 89.8% compared to 2023 – up to 33 million 699.722 thousand tons, while foreign exchange earnings increased by 58.7% to UAH 2 billion 803.223 million.

In 2024, Ukraine imported iron ore for $414 thousand in a total volume of 2,042 thousand tons, while in 2023, 250 tons of this raw material were imported for $135 thousand.

In 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million

(down 39.3%). In 2023, Ukraine imported iron ore worth $135 thousand in a total volume of 250 tons.

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Exports of ferroalloys increased 35 times in early 2025

In January-February this year, Ukraine increased exports of ferroalloys in physical terms by 35.5 times compared to the same period last year, up to 19.170 thousand tons from 540 tons.

According to statistics released by the State Customs Service (SCS) on Tuesday, exports of ferroalloys increased 11 times in monetary terms to $19.775 million.

The main exports were to Algeria (32.16% of supplies in monetary terms), Poland (25.61%) and Italy (18.92%).

In addition, Ukraine imported 7.962 thousand tons of these products in 2 months of 2015, a decrease of 53.5% compared to January-February 2014. In monetary terms, imports fell by 49.8% to $14.210 million.

Imports were mainly from Norway (32.25%), Kazakhstan (16.80%) and Armenia (7.62%).

As reported, Pokrovsky Mining and Processing Plant (PGOK, formerly Ordzhonikidze Mining and Processing Plant) and Marganetsky Mining and Processing Plant (MGOK, both in Dnipropetrovska oblast), both part of Privat Group, stopped mining and processing of crude manganese ore in late October and early November 2023, while NFP and ZFP stopped smelting ferroalloys. In the summer of 2024, ferroalloy plants resumed production at a minimal level.

In 2024, Ukraine reduced exports of ferroalloys in physical terms by 4.45 times compared to 2023 – to 77.316 thousand tons from 344.173 thousand tons, while in monetary terms, exports decreased by 3.4 times – to $88.631 million from $297.595 million. The main exports were to Poland (27.40% of supplies in monetary terms), Turkey (21.53%) and Italy (19.82%).

In addition, last year Ukraine imported 82.259 thousand tons of these products compared to 14.203 thousand tons in 2023 (an increase of 5.8 times). In monetary terms, imports increased by 3.3 times to $140.752 million from $42.927 million. Imports were carried out mainly from Poland (32.71%), Norway (19.55%) and Kazakhstan (13.90%).

Prior to the nationalization of the financial institution, PrivatBank organized the business of ZZF, NZF, Stakhanovsky ZF (which is on the NKT), Pokrovske and Marganetske GOKs. 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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Exports of Ukrainian medicines reached $33.5 mln in two months

In January-February, Ukraine exported $33.534 million worth of dosed or packaged medicines for retail sale.

As reported by the State Customs Service (SCS) on Tuesday, exports of medicines for retail sale to Lithuania amounted to $7.764 million, to Uzbekistan – $6.799 million, and to Iraq – $2.901 million.

At the same time, according to the State Medical Service, imports of packaged/dosed medicines for retail trade amounted to $312.316 million during the same period.

In particular, in January-February, Ukraine imported $60.618 million worth of medicines for retail sale from Germany, $26.157 million from India, and $24.284 million from Turkey.

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Exports of carbon steel semi-finished products down 45% in 2025

In January-February this year, Ukraine reduced exports of carbon steel semi-finished products in physical terms by 44.9% year-on-year to 200,696 thousand tons.

According to statistics released by the State Customs Service (SCS) on Tuesday, exports of carbon steel semi-finished products fell by 47% to $92.752 million in monetary terms.

The main exports were made to Bulgaria (40.00% of supplies in monetary terms), Turkey (25.10%) and Egypt (10.78%).

In the period under review, Ukraine imported 2.544 thousand tons of semi-finished products worth $2.043 million from the Czech Republic (94.42%) and Italy (5.58%), with all deliveries occurring in February.

As reported, in 2024, Ukraine increased exports of semi-finished carbon steel products in physical terms by 56.7% compared to 2023 – up to 1 million 886.090 thousand tons, while revenue in monetary terms increased by 52.4% to $927.554 million. The main exports were made to Bulgaria (32.06% of supplies in monetary terms), Egypt (18.50%) and Turkey (11.14%).

In 2024, Ukraine imported 306 tons of semi-finished products worth $278 thousand from the Czech Republic (88.13%), Romania (7.19%), and Poland (2.88%), while in 2023 it imported 96 tons worth $172 thousand.

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Exports of scrap metal from Ukraine increased by 1.6% in January-February

Ukrainian companies increased exports of ferrous scrap by 1.55% year-on-year to 40,980 thousand tons from 40,354 thousand tons in January-February this year.

According to statistics released by the State Customs Service (SCS) on Tuesday, 25,284 thousand tons of scrap were exported in February, up 61% from 15,696 thousand tons in the previous month.

In monetary terms, the export of scrap metal in January-February decreased by 8.4% to $11.816 million from $12.903 million.

Exports of scrap metal in the period under review were mainly to Poland (93.24% of supplies in monetary terms), Bulgaria (4.32%) and Germany (2.20%).

In the first two months of the year, Ukraine imported 3 tons of scrap metal per $1 thousand from the British Virgin Islands, with deliveries taking place in January.

As reported, in 2024, Ukraine’s scrap collecting enterprises increased exports of ferrous scrap by 60.7% compared to 2023 – up to 293,190 thousand tons from 182,465 thousand tons. In monetary terms, the export of scrap metal increased by 73.2% to $91.311 million from $52.723 million over the year. Last year, scrap metal was exported mainly to Poland (81.80%), Greece (13.75%) and Germany (3.19%).

Last year, Ukraine imported 104 tons of scrap metal worth $110 thousand, mainly from Turkey (64.55% in monetary terms), the British Virgin Islands (16.36%) and Panama (8.18%), while the previous year the country imported 1,075 thousand tons worth $411 thousand.

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