Business news from Ukraine

Ukraine increased iron ore exports by 2.6 times and revenue by 2.3 times

23 March , 2024  

In January-February of this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.64 times compared to the same period last year, to 5 million 664.230 thousand tons.

According to the statistics released by the State Customs Service on Wednesday, foreign exchange earnings from iron ore exports increased 2.34 times to $552.818 million over the period under review.

Iron ore was exported mainly to China (40.32% of supplies in monetary terms), Slovakia (17.22%) and Poland (11.50%).

In the first two months of 2024, Ukraine imported iron ore worth $29 thousand in a total volume of 102 tons, while in January-February 2023, it imported iron ore worth $17 thousand in a volume of 28 thousand tons. Imports in January-February 2024 were carried out from Norway (44.83%), Slovakia (27.59%) and Italy (27.59%).

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%).

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