Business news from Ukraine

Business news from Ukraine

Ukraine’s grain exports since the beginning of 2024-2025 amounted to 22.4 mln tons

Since the beginning of 2024-2025 marketing year and as of January 8, Ukraine exported 22.442 mln tonnes of grains and pulses, 705 thsd tonnes of which were shipped this month, the press service of the Ministry of Agrarian Policy and Food reported, citing the data of the State Customs Service of Ukraine.

According to the report, as of the same date last year, the total shipments amounted to 19.422 mln tons, including 1.03 mln tons in January.

In terms of crops, since the beginning of the current season, 9.977 million tons of wheat have been exported (209 thousand tons in January), 1.976 million tons of barley (8 thousand tons), 10.8 thousand tons of rye (0) and 10.162 million tons of corn (487 thousand tons).

The total export of Ukrainian flour since the beginning of the season as of January 8 is estimated at 38.1 thsd tonnes (0.5 thsd tonnes in January), including 35 thsd tonnes of wheat (0.5 thsd tonnes).

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Ukraine’s exports grew by 15.5% in 2024, imports by 11.3%

Ukraine’s exports in January-December 2024 increased by 15.5% compared to 2023 to $41.6 billion, while imports increased by 11.3% from $63.5 billion to $70.7 billion, the State Customs Service (SCS) reported in a telegram.

“At the same time, taxable imports amounted to $57.4 billion, which is 81% of the total volume of imported goods. The tax burden per 1 kg of taxable imports in 2024 amounted to $0.51/kg, which is 5% more than in 2023,” the State Customs Service said.

According to the published information, most of the goods were imported to Ukraine from China – $14.4 billion, Poland – $7 billion, and Germany – $5.4 billion. At the same time, Ukraine exported the most goods to Poland – $4.7 billion, Spain – $2.9 billion, and Germany – $2.8 billion.

In the total volume of goods imported in January-December 2024, 65% of the goods were in the category of machinery, equipment and transport – $25 billion (UAH 172.3 billion, or 29% of customs payments, were paid to the budget during customs clearance), chemical products – $11.7 billion (UAH 87.7 billion, or 15% of customs revenues), and fuel and energy – $8.9 billion (UAH 157.6 billion, or 27% of revenues, were paid during customs clearance).

The top three most exported goods from Ukraine are food products – $24.6 billion, metals and metal products – $4.4 billion, and machinery, equipment and transport – $3.5 billion.

The State Customs Service added that in 2024, UAH 311.3 million was paid to the budget during customs clearance of exports of goods subject to export duties.

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Ukrainian Farmak has started exports to Pakistan

Farmak Pharmaceutical Company (JSC Farmak, Kyiv) has started exporting to Pakistan, the first product supplied is an injectable drug for general anesthesia, which is also registered in the UK.

According to the company’s press release, Pakistan became the second country in South Asia after Jordan to which Farmak supplies its products. Farmak’s presence in the region is ensured by the Farmak International Middle East & Africa team.

In general, Farmak exports its products to more than 60 countries, including 15 EU countries, as well as countries of Central and South America, the Middle East, Asia, Africa and Australia.

As reported, in 2023, Farmak increased its net profit by 18% compared to 2022, to UAH 1.557 billion.

Farmak Group is the leader of the Ukrainian pharmaceutical market in monetary terms, has two production sites in Ukraine and a production site in Spain, as well as 11 international representative offices and marketing and distribution companies in countries such as Poland, Czech Republic, Slovakia, the United Kingdom, the United Arab Emirates, Vietnam, Switzerland, Kazakhstan, Uzbekistan, Kyrgyzstan, and Moldova. The ultimate beneficial owner of Farmak is the Chairman of the Supervisory Board Filya Zhebrovska (80% of the company’s shares).

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Ukraine set record for sugar exports in 2024

In 2024, Ukrainian sugar producers set a historical record for sugar exports, exporting 746.3 thousand tons of the product to foreign markets for $419 million, the National Association of Sugar Producers of Ukraine (Ukrtsukor) reported.

“This is the highest figure for sugar exports within a calendar year according to statistics dating back to 1997, when the National Association of Sugar Producers of Ukraine was established,” the industry association said.

Ukrtsukr added that 40% of exports in 2024 were directed to the European Union, 60% were supplies to the world market, where the main buyers of Ukrainian sugar were MENA (Middle East and North Africa) and North Macedonia.

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Ukraine’s exports grew by 15% in 2025, imports by 8.6%

In 2025, Ukraine exported goods worth $41.627 billion, up $5.44 billion, or 15%, compared to 2023, Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka said.

“In terms of weight, exports amounted to 131.179 million tons. This is 30.8 million tons more, which means an increase of 30.8%. Imports also increased by 8.6% to $69 billion,” he wrote on Facebook on Wednesday.

Kachka specified that imports of electricity increased by 333% to $669 million, batteries by 103% to $950 million, transformers by 108% to $596 million, and UAVs by 77% to $1.2 billion.

“The top imports are petroleum products ($6.8 billion) and “miscellaneous” ($4.5 billion), which are directly related to war and defense. So energy challenges and defense are the main drivers of imports. The drivers are not at all inelastic. A significant reduction in the trade deficit is directly related to the development of the defense industry and the restoration of energy infrastructure,” the trade representative emphasized.

Regarding exports, Kachka noted that due to the opening of navigation in ports, iron ore became the leader in terms of exports – 33.6 million tons, which is 89% more compared to 2023, and in monetary terms, the growth was 58% – up to $ 2.8 billion.

According to him, the second position in terms of volume was taken by corn – 29 million tons, which is 12.3% more than in 2023, but in monetary terms the increase was only 2.3%, up to $5.07 billion.

The Trade Representative emphasized that the situation is the opposite in poultry exports: in physical terms, it increased by only 5.6% to 448.4 thousand tons, but in monetary terms – by 20% to $961 million.

“Among the goods whose exports amounted to more than a billion dollars, I would like to emphasize cable products, whose exports increased by 60% to $1.27 billion,” added Kachka.

According to his data, the growth in export revenues for key metallurgical products was 52% for semi-finished products to $927 million, 38.9% for hot-rolled products to $809 million, 125% for pipes to $590 million, 6.1% for pig iron to $500 million and 19.3% for bars to $156 million.

“Confectionery is a certain indicator of the food processing industry’s performance. There is a 38% increase in revenue from chocolate ($264 million), 26.9% growth for biscuits ($269 million), 15.6% for candy without chocolate ($215 million),” the trade representative also wrote.

In timber processing, he drew attention to the fact that the export of boards (sawn timber) decreased in volume, but still remained above 1 million tons, and in revenue – by 1.2%, to $400.9 million, but glued plywood was exported by 95% more – $125.3 million.

“There are also good indicators in the consumer goods sector. Exports of suits, sets, jackets, trousers, overalls for men amounted to $99 million. This is 646% … more than in 2023. Exports of suits, sets, jackets, dresses, skirts for women amounted to $71.3 million, which is 114.2% growth,” Kachka wrote.

According to him, geographically, Ukrainian exports are becoming more and more EU-centric: exports to the EU grew by 5.9% to $24.7 billion. The top five EU members in terms of exports were Poland ($4.7 billion), Spain ($2.8 billion), Germany ($2.8 billion), the Netherlands ($1.98 billion), and Italy ($1.93 billion). At the same time, exports to Germany grew by 40.5%, while exports to Poland decreased by 1.1%, the trade representative said.

“In general, trade with Poland is declining, as Ukraine imported 6.8% less from it than in 2023. At the same time, Poland continues to be the leader in the supply of goods from the EU – $6.8 billion out of $34.3 billion of total imports from the EU,” Kachka stated.

He noted that trade with Turkey is also declining – by 7.2% in exports and 13.5% in imports.

According to him, imports from China are growing at a significant pace: last year they increased by 37.4% to $14.3 billion.

“And this is the main area of turbulence in our trade policy, because trade with China may undergo radical changes due to the expected measures of the new US administration, which will go viral and lead to the recalibration of tariff rates within the WTO. If the US states that it has the right to revise its tariff rates, Ukraine has even more rights to do so, as we joined the WTO on the basis of unfulfilled expectations of lowering tariffs by other WTO member states,” Kachka emphasized.

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Ukraine plans to increase agricultural exports to Lebanon to $1 bln

Ukraine exports more than $400m worth of products to Lebanon, although the potential is $1bn, the supplies of cattle, meat and dairy products are promising, Minister of Agrarian Policy and Food Vitaliy Koval said after a visit to Lebanon and a meeting with businessmen.

The Ministry of Agrarian Policy and Food noted that Koval met with Lebanese businessmen – representatives of more than 12 companies involved in imports: flour millers, traders, entrepreneurs who buy food products, meat and cereals from Ukraine.

According to the Minister, Lebanese businessmen import tens of thousands of tons of cattle. They have recently started importing sheep to Lebanon. It is these areas of cattle breeding because of the shortage of meat can be promising for Ukrainian agrarians.

“Today we export more than $400 million worth of products to Lebanon, although the potential is $1 billion. That is why the task of the Ministry of Agrarian Policy is to increase imports of our products to Lebanon. I discussed with their businesses what should be done to increase trade turnover. Lebanese businessmen noted some bureaucratic moments and logistical problems. Now I clearly understand what needs to be simplified in procedures. Lebanon is an important trade partner for us, so we will work on developing our relations further,” Koval emphasized.

The Minister drew attention to the fact that the Ukrainian community is very active in Lebanon. During the meeting with its representatives, the Ukrainian delegation discussed the logistic communication with Ukraine and the increase of domestic products in Lebanese stores.

Koval urged the diaspora to be ambassadors of Ukraine: to popularize Ukrainian products and emphasize their quality.

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