Ukraine’s positive foreign trade balance in ferrous metals decreased by approximately 24% in January–July 2026, to $655 million, according to Open4Business calculations based on data from the State Customs Service.
Over the seven months, Ukraine exported $1.678 billion worth of ferrous metals, while imports amounted to $1.023 billion.
During the same period of 2025, exports reached $1.816 billion, while imports, based on their current growth of 7.2%, amounted to approximately $954 million. Thus, the trade surplus at that time stood at approximately $862 million.
The reduction in the positive balance is associated with two trends: the export revenue of Ukrainian steelmakers decreased by 7.6%, while the value of products imported into the country increased by 7.2%.
In July, the gap between exports and imports narrowed even further: ferrous metal exports amounted to $199.9 million, while imports totalled $176.4 million.
Despite the deterioration in dynamics, Ukraine’s trade in ferrous metals remains in surplus. However, the margin of exports over imports is becoming significantly smaller.
Source: State Customs Service of Ukraine, Open4Business calculations.
