Business news from Ukraine

Business news from Ukraine

UKRAINE EXPORTS 3.2 MLN TONNES OF GRAINS AND LEGUMES SINCE START OF NEW MY

Ukraine since the beginning of the new 2020/2021 marketing year (MY, July-June) and as of August 7, 2020 had exported 3.24 million tonnes of grains and legumes, which is 1.2 million tonnes less than on this date in the past MY.
According to the information and analytical portal of the Ukrainian agro-industrial complex, 1.67 million tonnes of wheat, 1.07 million tonnes of barley and 498,000 tonnes of corn have been exported to date.
As of August 7 of this year, 21,800 tonnes of flour had been also exported.
As reported, Ukraine exported a record 57.2 million tonnes of grain, legumes and flour in the 2019/2020 MY, which is 13.5% more than in the previous MY.

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UKRAINE REDUCES ELECTRICITY EXPORT

Ukraine in January-June 2020 reduced electricity exports by 12.3% (by 374.6 million kWh) compared to the same period in 2019, to 2.676 billion kWh, according to data from Ukrenergo. According to Interfax-Ukraine’s calculations, the supply of electricity from the energy island of Burshtyn TPP to Hungary, Slovakia and Romania decreased by 12.9% (by 263.2 million kWh), to 1.772 billion kWh.
Electricity supplies to Poland increased by 17.5% (by 115.2 million kWh), to 773.9 million kWh.
Electricity supplies to Moldova amounted to 130.3 million kWh, which is 63.5% (226.6 million kWh) less than in January-June 2019.
Ukrainian electricity was not exported to Belarus and Russia.
In June 2020, exports fell by 3.3 times compared with the same month last year (by 235.3 million kWh), to 102.3 million kWh.
At the same time, Ukraine for the six months imported 1.757 billion kWh of electricity, including 1.034 billion kWh supplied from Slovakia, 434.2 million kWh from Hungary, 152.3 million kWh from Belarus, 82.4 million kWh from Romania, and 53.4 million kWh from Russia.
In June, imports fell to a minimum of 18.9 million kWh, which is 1.8 times less than in May 2020, 8 times less than in April, 23.4 times less than in March, almost 30 times less than in February and January.

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STRUCTURE OF EXPORT OF SERVICES IN 1-ST QUARTER OF 2020 (GRAPHICALLY)

Structure of export of services in 1-st quarter of 2020 (graphically)

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STRUCTURE OF EXPORT OF SERVICES IN 2019 (GRAPHICALLY)

Structure of export of services in 2019 (graphically)

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UKRAINE EXTENDS BAN ON EXPORT OF ANTI-EPIDEMIOLOGICAL PRODUCTS

The Cabinet of Ministers has extended until July 1 the ban on export of anti-epidemiological products. The government made the corresponding decision at a meeting on May 27.
“It is proposed to change the validity of the licensing regime for export of anti-epidemiological products until July 1, 2020. In fact, we extend the ban on export of such goods by one month,” Minister of Economic Development, Trade and Agriculture Ihor Petrashko said.
The government also allowed export of waterproof laboratory suits and disposable isolation medical gowns of types 1-5 of protection.

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PROMOTION OF UKRAINIAN EXPORT TO BE ONE OF KPI OF UKRAINIAN DIPLOMATS

The government would make the promotion of Ukrainian exported goods one of Key Performance Indicators (KPI) of Ukrainian diplomats, Ukrainian Prime Minister Denys Shmyhal has said. “We are working with the Ministry of Foreign Affairs to slightly change the focus of the diplomatic service of Ukraine abroad. We will focus our diplomats on promoting Ukrainian exports. This is such a kind of reform. Promoting Ukrainian exports to global markets will become one of the KPIs of Ukrainian diplomats. Another KPI may be to attract investment in the country. From [Ukraine] export [is going], outside [the country] investment [is coming], and import will come into Ukraine with the help of efforts of diplomats of other states,” he said in an exclusive interview with Interfax-Ukraine.
As for internal investments, the prime minister said that in the existing conditions, he would “localize himself and engage in economic and investment nationalism, in the good sense of the word, and invest in Ukraine.”In his opinion, the country has very good conditions for investment, as well as a good margin in certain sectors in terms of economic opportunities.
“Therefore, one needs to invest at home, develop local production, improve quality and then go outside with export,” Shmyhal said.

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