Business news from Ukraine

Business news from Ukraine

In February, Export Credit Agency (ECA) supported exports worth 670.8 mln UAH

In February 2026, the Export Credit Agency (ECA) supported exports by Ukrainian companies worth 670.8 million UAH, according to the agency’s website.

Oschadbank provided the largest volume of support in cooperation with partner banks—UAH 552.48 million in supported exports, while Creditvest Bank supported UAH 51.01 million.

The largest volume of supported exports came from enterprises in Lviv (501.88 million UAH), Poltava (51.01 million UAH), Chernihiv (43.03 million UAH), and Zaporizhzhia (35.32 million UAH) regions.

The main importing countries of Ukrainian products in February were Germany (UAH 501.88 million), Poland (UAH 86.69 million), Kazakhstan (UAH 43.03 million), Lithuania (UAH 22.91 million), and Romania (UAH 14.90 million).

In terms of sectoral structure, the largest shares were held by printed matter and periodicals, nuclear reactors, boilers, machinery and mechanical appliances, paper and paperboard, ferrous metal products, as well as plastics and polymer materials.

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UCAB forecasts 14% drop in sunflower oil exports—to 4.1 mln tons

Sunflower oil exports from Ukraine in the 2025/2026 marketing year (MY) are projected at 4.1 million tons. This is 14% less than the previous season’s figure, the Ukrainian Agribusiness Club (UAC) reported on Facebook.

According to analysts, the main reason for the decline was a reduction in raw material volumes. Specifically, in the current season, the total area planted with sunflowers was 5.2 million hectares, which is 2.6% less than in the previous MY. Difficult weather conditions, particularly a lack of rainfall, led to a decrease in yield to 2.0 t/ha.

“As a result, the seed harvest is expected to reach 10.1 million tons. This is 10.6% less than in the previous marketing year and 13.5% below the average for the last five years,” experts predict.

Due to the smaller harvest, UCAB estimates processing volumes at 10.1 million tons, meaning oil production will drop by 13.1% to 4.3 million tons. Meanwhile, the domestic market will consume only about 240,000 tons of the product.

“Domestic consumption in Ukraine continues to decline due to the partial occupation of territories, forced population migration, and military operations. Therefore, the vast majority of the product will be exported,” explained UCAB, noting that in 2025, sunflower oil alone generated the highest foreign exchange revenue among the entire agricultural sector.

The association expressed confidence that despite the negative production trends, Ukrainian sunflower oil retains its position as a key export commodity in the EU, Middle East, and Asian markets.

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Ukraine reduced iron ore exports by 40.9% in January–February

In January-February of this year, Ukraine’s mining companies reduced exports of iron ore raw materials (IORM) by 40.9% in volume terms compared to the same period last year—to 3,309,055 thousand tons from 5,595,706 thousand tons.

According to statistics released by the State Customs Service (SCS) on Tuesday, 1,254,516 thousand tons of IOR were exported in February, and 2,054,539 thousand tons in January.

In the first two months of the year, foreign exchange earnings from mineral ore exports decreased by 42.1% to $260.130 million.

Mineral resources were exported mainly to China (33.37% of shipments in monetary terms), Slovakia (23.43%), and Poland (16.74%).

In addition, in January–February 2026, Ukraine imported 180 tons of raw materials worth $26,000 from Poland (76.92%) and Italy (23.08%); all shipments took place in January, whereas in January–February 2025, the country imported 11,000 tons worth $5,000.

As reported, Ukraine’s mining companies reduced ore exports in physical terms by 8% in 2025 compared to the previous year—to 30,995,363 thousand tons from 33,699,722 thousand tons, foreign exchange earnings decreased by 16.6%—to $2.337765 billion from $2.803223 billion. Exports were mainly directed to China (44.98% of shipments in monetary terms), Slovakia (17.15%), and Poland (16.09%).

In addition, in 2025, Ukraine imported $95,000 worth of raw materials totaling 130 tons from the Netherlands (46.32%), Italy (36.84%), and Norway (13.68%), whereas in the previous year it imported 2,042 thousand tons worth $414 thousand.

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Exports of aluminum products increased by 14.2% to $22.8 mln

In January-February 2026, Ukraine increased imports of aluminum and aluminum products by 15.8% to $86.371 million (in February – $46.957 million).

Exports of aluminum and aluminum products in January-February of this year increased by 14.2% compared to the same period last year, to $22.793 million (in February – $11.063 million).

In 2025, Ukraine increased imports of aluminum and aluminum products by 15.3% to $514.098 million.

Exports of aluminum and aluminum products in 2025 increased by 22.9% compared to 2024, reaching $152.919 million.

Aluminum is widely used as a structural material. The main advantages of aluminum are its lightness, malleability, corrosion resistance, high thermal conductivity, and the non-toxicity of its compounds. In particular, these properties have made aluminum extremely popular in the production of kitchen utensils, aluminum foil in the food industry, and for packaging. The first three properties have made aluminum the main raw material in the aviation and aerospace industries (recently, it has been replaced by composite materials, primarily carbon fiber). After construction and packaging production—aluminum cans and foil—the largest consumer of metal is the energy sector.

For a more detailed overview of global aluminum production from 1970 to 2024, see the video on the Experts Club YouTube channel.

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Lead imports to Ukraine fell 6.2 times at beginning of year

At the same time, Ukraine reduced imports of lead and lead products by 6.2 times in January-February 2026, to $198,000 (in February – $86,000).

Exports of lead and lead products increased by 23.3% to $1,660 thousand (in February – $607 thousand).

In 2025, the country increased imports of lead and lead products by 3.3 times to $7.801 million.

Exports of lead and lead products decreased by 17.8% to $9.377 million.

Lead is currently mainly used in the production of lead-acid batteries for the automotive industry. In addition, lead is used in the manufacture of bullets and certain alloys.

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Nickel imports to Ukraine increased 2.3 times at beginning of year

In January-February 2026, Ukraine increased imports of nickel and nickel products 2.3 times compared to the same period last year, to $4.518 million (in February – $2.052 million).

Exports of nickel and nickel products amounted to $51,000 (in February – $47,000), while in January-February 2025 they amounted to $33,000.

In addition, in 2025 Ukraine reduced imports of nickel and nickel products by 2.7% compared to 2024 – to $26.011 million.

Exports of nickel and nickel products amounted to $1.420 million, compared to $602 thousand in 2024.

Nickel is used in the production of stainless steel and for nickel plating. Nickel is also used in the production of batteries, in powder metallurgy, and in chemical reagents.

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