The Ministry of Economy of Ukraine, together with the European Union and the German government, has launched a new grant program worth EUR 480 thousand, under which 12 small and medium-sized enterprises will be able to receive funding of up to EUR 40 thousand to develop their exports, the press service of the Ministry of Economy reports.
According to the report, the program is open to small and medium-sized Ukrainian businesses operating in the processing industry (food, light industry, mechanical engineering, construction, furniture manufacturing, etc.), the creative industry (fashion, design, etc.), and other industries with export and innovation potential.
The project is expected to provide 12 selected participants with a grant of up to EUR 40 thousand each, as well as group and individual consultations from experts, networking sessions, and other activities that will help identify and eliminate processes that “block” businesses on the way to export and innovation development.
Applications for participation in the grant program can be submitted until 23:59 on June 25, 2024 on the project website.
“Since the start of the full-scale Russian invasion, the EU4Business program has provided almost EUR 8 million to support SMEs in Ukraine (…). With this grant program, we want to help Ukrainian businesses overcome the consequences of the war, provide access to finance, help them find new markets, and improve the business environment in Ukraine,” said Henrik Witfeldt, Head of Public Finance, Business Support and Social Policy at the EU Delegation to Ukraine.
As reported, the EUR 480,000 grant program for small and medium-sized businesses is part of the EU4Business international cooperation program: SME recovery, competitiveness and internationalization. It is jointly funded by the European Union and the German government and implemented by the German federal company Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH. The program’s implementing partner in Ukraine is the Global Compact Network in Ukraine.
In May 2024, the Export Credit Agency (ECA) supported UAH 1.23 billion of exports, while since the beginning of the year this amount amounted to UAH 2.93 billion, according to the ECA website.
It is specified that one hryvnia of ECA’s insurance liability has generated UAH 11.15 of future export revenue as of today.
Among ECA’s partner banks, MTB Bank provided the largest financing to Ukrainian exporters in May (UAH 79.2 million), and it also supported the largest exports – by UAH 911.2 million. It is followed by Ukrgasbank (UAH 182 million of supported exports and UAH 28.2 million of loans issued) and Oschadbank (UAH 80.8 million and UAH 17.1 million, respectively) in the top three in May.
Since the beginning of the year, the leader among banks is Urgasbank, which has provided export loans worth UAH 120.5 million, thus securing UAH 1.75 billion in future revenue.
Among the regions, Kyiv (UAH 911.2 million), Ivano-Frankivsk (UAH 158.4 million), and Lviv (UAH 165.2 million) regions were the most active users of ECA insurance to develop export potential in May, while partner countries included Poland (UAH 660.7 million), Denmark (UAH 197.6 million), and the Netherlands (UAH 158.4 million). The most popular export products include milk and dairy products, processed vegetables, alcoholic and non-alcoholic beverages.
In January-May this year, Ukraine reduced exports of titanium ores and concentrate in physical terms by 43.1% year-on-year to 3,207 thousand tons.
According to statistics released by the State Customs Service (SCS) on Thursday, exports of titanium ores and concentrate decreased by 43.5% to $5.303 million in monetary terms.
The main exports were to Turkey (68.87% of supplies in monetary terms), the Philippines (6.32%) and Poland (5.83%).
At the same time, experts point to inconsistencies in the statistics on titanium ore exports. In particular, at the request of Interfax-Ukraine, Velta Production and Commercial Firm (PCF) LLC with titanium ore mining assets in Novomyrhorod (Kirovohrad region) reported that in January-February 2024 alone, the company exported more than 15 thousand tons of ilmenite (titanium concentrate) to the Czech Republic and Mexico. At the same time, experts believe that the GTS provides data only on the supply of rutile (also a titanium-containing ore).
In five months of 2024, Ukraine imported 56 tons of titanium ore from China worth $86 thousand.
As reported, in 2023, Ukraine reduced exports of titanium ore in physical terms by 96.4% compared to 2022 – to 11,648 thousand tons, while revenue decreased by 85.1% to $19.426 million. At the same time, the main exports were made to Turkey (38.21% of supplies in monetary terms), Japan (16.53%) and India (6.12%).
During this period, Ukraine imported 1 ton of such ore from the Netherlands for $2 thousand.
In 2022, Ukraine decreased exports of titanium ore by 41.8% year-on-year to 322.143 thousand tons, and by 19.6% in monetary terms to $130.144 million. The main exports were made to the Czech Republic (47.91% of supplies in monetary terms), the United States (11.94%) and Romania (9.75%).
In 2022, Ukraine imported 196 tons of similar products from Senegal (70.41%) and Turkey (29.59%) for $115 thousand.
In Ukraine, titanium ores are currently mined mainly by the United Mining and Chemical Company (UMCC), which manages Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipro region) and Irshansk Mining and Metallurgical Plant (Irshansk, Dnipro region). ) and Irshansk Mining and Processing Plant (IGOK, Zhytomyr region), as well as Mezhirichinsky GOK and Valky Ilmenite (both based in Irshansk, Zhytomyr region). In addition, Velta (Dnipro) has built a mining and processing plant at Birzulivske deposit with a capacity of 240 thousand tons of ilmenite concentrate per year.
In addition, Velta, a Dnipro-based industrial and commercial company, has built a mining and processing plant at the Birzulivske deposit with an annual capacity of 240 thousand tons of ilmenite concentrate.
In January-May this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.27 times compared to the same period last year, to 15 million 542.428 thousand tons.
According to the statistics released by the State Customs Service on Thursday, foreign exchange earnings from iron ore exports increased by 81.7% to $1 billion 367.161 million during the period under review.
Exports of iron ore were carried out mainly to China (40.53% of supplies in monetary terms), Slovakia (15.65%) and Poland (14.91%).
In January-May 2024, Ukraine imported iron ore worth $121 thousand in the total volume of 303 tons, while in January-May 2023 it imported iron ore worth $42 thousand in the total volume of 68 tons. This year’s imports were carried out from the Netherlands (39.67%), Norway (23.14%) and Italy (20.66%).
As reported, 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%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.
In 2022, Ukraine decreased exports of iron ore in physical terms by 45.9% compared to 2021 – to 23 million 984.623 thousand tons, while foreign exchange earnings decreased by 57.8% to $2 billion 912.974 million. Iron ore was exported mainly to Slovakia (19.23% of supplies in monetary terms), the Czech Republic (17.32%) and Poland (16.49%).
In 2022, Ukraine imported iron ore worth $65 thousand in a total volume of 101 tons, while in 2021 – $184 thousand in a volume of 1,202 thousand tons. Imports were carried out from Norway (36.92%), the Netherlands (27.69%) and the UK (16.92%).
Ukraine in 2024-2025 marketing year (July-June) can export more than 60 million tons of grain and oilseed crops and products of their processing, which will allow it to remain among the world leaders of agricultural exports, Acting Minister of Agrarian Policy and Food of Ukraine Taras Vysotskyy said.
According to the Ministry of Agrarian Policy and Food, Ukraine can collect grain crops of the new harvest at the level of about 56 million tons, of which wheat – 21 million tons, barley – about 5 million tons, corn – 28.5 million tons.
Total exports of cereals are forecast at 43 million tons, in particular wheat – 15 million tons, barley – 2.5 million tons, corn – about 25 million tons.
The ministry expects oilseeds production at the level of 22 million tons, in particular rapeseed – 4 million tons, sunflower – about 13 million tons. Ukraine may harvest 5 million tons of soybeans, which will be a record in the history of Ukraine.
Exports of oilseeds and oilseed products are expected to exceed 17 million tons.
“After two years of full-scale war, Ukraine managed to equalize the market balance of production and export of major crops. (…) The current marketing year 2023/2024 Ukraine will end with the final balances of agricultural products at the average level, as it was until 2022. In the next marketing year, agro-exports will be over 60 million tons. And this shows that Ukraine remains a guarantor of world food security”, – summarized Acting Minister of Agro-Politics.
In January-May this year, Ukraine reduced pig iron exports in physical terms by 19.6% year-on-year to 507.106 thousand tons.
According to statistics released by the State Customs Service (SCS) on Thursday, pig iron exports in monetary terms decreased by 22.3% to $189.600 million during the period.
At the same time, exports were carried out mainly to the United States (78.55% of supplies in monetary terms), Italy (6.49%) and Poland (5.77%).
In the first five months of the year, the country imported 15 tons of pig iron worth $35 thousand from Germany (there were no imports in January, March and May), while in the same period in 2023 it imported 37 tons of pig iron worth $52 thousand.
As reported, in 2023, Ukraine reduced exports of processed pig iron in physical terms by 5.8% compared to 2022 – to 1 million 248.512 thousand tons, while exports in monetary terms decreased by 26.2% to $ 471.467 million. Deliveries were made mainly to Poland (51.91% of supplies in monetary terms), Spain (21.41%) and the United States (13.15%).
In 2023, Ukraine imported 154 tons of pig iron worth $156 thousand from Germany (42.31%), Brazil (41.67%) and Poland (16.03%), compared to 40 tons of pig iron worth $23 thousand in 2022.
In 2022, Ukraine reduced exports of processed pig iron by 59% in physical terms compared to the previous year to 1 million 325.275 thousand tons, and by 61.1% in monetary terms to $638.774 million.
In 2022, Ukraine imported 40 tons of pig iron worth $23 thousand, while in 2021 it imported 185 tons of pig iron worth $226 thousand. Exports were mainly to the United States (38.47% of supplies in monetary terms), Poland (32.91%) and Turkey (8.12%), while imports were made from Germany (100%).
