Main trade partners of Ukraine in % from total volume (import from other countries to Ukraine) in 2021
SSC of Ukraine
Ukraine in March 2022 exported 5.97 million tons of goods worth $2.7 billion, which is 2.2 times less than in February in terms of quantity and half in value, while imports of goods to Ukraine in March amounted to 5 million tons $5.9 billion, which is more than three times less than in February. “Ukraine’s export volume in March amounted to 5.97 million tons worth $2.7 billion. While in February, the state exported 13.1 million tons of goods worth $5.3 billion. The main export items are ores, corn, ferroalloys and oil “, the Ministry of Economy said in a release on Sunday. The export of metals and agricultural products was particularly affected, however, the volume of exports of a number of goods with deep processing remained practically unchanged compared to the pre-war period, the Ministry of Economy added. The Ministry notes a significant reduction in metal exports. In particular, the export of flat products fell by almost 10 times – from 437 thousand tons in February to 47 thousand tons in March. “For some metallurgy positions, exports were not made at all. This is primarily due to the physical destruction of metallurgical facilities and the stoppage of production,” the ministry commented. In March, Ukraine exported 1.1 million tons of corn, 309 thousand tons of wheat, 118 thousand tons of sunflower oil, 40 thousand tons of soybeans. This is four times less than in February, according to the data of the Ministry of Economy. “At the same time, for many items of goods with deep processing, the volume of exports remained at the level of the previous month and even increased. These are, for example, cable products, the export of which amounted to $111 million ($130 million in February) or wood facing sheets – $32 million against $26 million in February,” the Economy Ministry said. Due to the Russian invasion, Ukrainian imports suffered significant losses: if in February the state imported 5 million tons of goods worth $5.9 billion, then in March – 1.6 million tons worth $1.8 billion, the report says. Currently, the most important imports to Ukraine are gas, oil, oil products and coal. “The enemy is deliberately undermining the economy of our state by blocking domestic exports. The traditional route for the export of export goods was the Black Sea ports, blocked today by Russia. In addition, the occupiers are attacking metallurgical enterprises and agricultural infrastructure in order to prevent the restoration of our capabilities in the future. All this threatens not only Ukraine, but also the whole world, because our state was the guarantor of food security in a number of countries in Africa and the Middle East,” the press service of the Ministry of the First Vice Prime Minister of Ukraine – Minister of Economy of Ukraine Yulia Sviridenko quotes. To counter this, Ukraine is increasing the capacity of rail, road and river transport on the western border of Ukraine, attracting manufacturers, traders, transport companies, Sviridenko noted. “The remnants of basic agricultural crops in Ukraine are enough to ensure exports. In addition, the start of the sowing campaign inspires restrained optimism for the future harvest,” the head of the ministry said.
Structure of import of services in Ukraine in 2021
SSC of Ukraine
Yoghurt, kefir, mineral water, raw tobacco, salt, hydrogen, photographic plates and film, doors, windows and their frames, cigarette paper, cotton wool, tights, socks and bras, bags and packaging bags are new items included in the list goods of critical import of Ukraine.
According to government resolution No. 266 of March 13, which was published on its website, the list is also replenished with glass and mirrors, silver, various types of metal products, aluminum metal structures, pumps, printed circuits, trailers and semi-trailers.
As reported, after the start of Russia’s military aggression on February 24, the government on the same day by resolution No. 153 determined a list of critical import goods, for the purchase of which the National Bank of Ukraine allows buying foreign currency. This is the tenth expansion of this list since it was originally approved.
BAGS, BRAS, COTTON WOOL, DOORS, FRAMES, IMPORT, MINERAL WATER, RAW TOBACCO, SALT, SOCKS, WINDOWS, YOGHURT
During the period of Russian military aggression, Ukraine should allow the import and sale of fuel of the Euro-4 ecological standard, director of the A-95 consulting group Serhiy Kuyun said.
“It is necessary to temporarily allow the use of fuel of Euro-4 standards. The equipment of the Armed Forces of Ukraine will not notice this at all. Tanks, ZILs, diesel locomotives and others will go easily – this equipment is not new for the most part,” he wrote on his Facebook page.
“Civilian transport will also survive. Strict European fuel requirements are mainly for environmental purposes. Now there are much more serious threats to our life and health than the exhaust in traffic jams from refugees’ cars,” Kuyun said.
According to him, there are interesting price offers for Euro-4 on the foreign market, which will increase the filling of the Ukrainian market with fuel.
The UK will gradually stop importing Russian oil by the end of 2022 in response to Vladimir Putin’s illegal invasion of Ukraine, the British government said in a statement on Tuesday.
“The UK is working closely with the US, the EU and other partners to end our dependence on Russian hydrocarbons in response to Russian aggression in Ukraine, recognising the different circumstances and transition timelines. This significant move will increase the growing pressure on Russia’s economy by choking off a valuable source of income,” the document says.
According to it, the refusal of imports will not be immediate: the UK, which covers 8% of its oil demand from Russia, will have more than enough time to adjust supply chains, support industry and consumers. The government will work with companies through a specially created Taskforce on Oil to help them use this period to find alternative sources.
London notes that oil accounts for 44% of Russian exports, which provides 17% of federal budget revenues.
According to the British government, in a competitive global market for oil and petroleum products, demand can be met by alternative suppliers. The UK has various reliable suppliers outside of Russia, including the Netherlands, Saudi Arabia and the United States.
“In another economic blow to the Putin regime following their illegal invasion of Ukraine, the UK will move away from dependence on Russian oil throughout this year, building on our severe package of international economic sanctions,” UK Prime Minister Boris Johnson said.
According to London, Russian oil is already being ostracised by the market, with nearly 70% of Russian oil currently struggling to find a buyer, and in a competitive global market demand will quickly be met by alternative suppliers. On March 1, Russian ships were banned from UK ports and authorities were granted new powers to detain Russian vessels.
The statement notes that the UK is not dependent on Russian natural gas, making up less than 4% of our supply. Ministers are also exploring options to reduce this further.
The Prime Minister confirmed that the government will set out an energy strategy to set out the UK’s long term plans for greater energy security, including both renewable and domestic oil and gas supplies.
As reported earlier on Tuesday, the United States announced a complete renunciation of Russian oil imports.
IMPORT, RUSSIAN OIL, STOP, UK
