Business news from Ukraine

Business news from Ukraine

Ukraine’s foreign trade turnover for 2 months of 2023 amounted to $16.6 billion, which is 30% less than a year earlier

16 March , 2023  

Ukraine’s foreign trade turnover in January-February 2023 totaled $16.6 billion, down 30% from the same period in 2022, the State Customs Service said. “In January-February this year, Ukraine imported goods worth $10.1 billion, exported goods worth $6.5 billion,” the State Customs Service said in a press release.

In January, the agency reported imports of $4.8 billion and exports of $3.1 billion. Thus, in February, imports rose to $5.1 billion and exports – to $3.4 billion, while the negative balance of trade remained at $1.7 billion.

As stated by the State Customs Service, taxable imports in January-February amounted to $8.1 billion, or 80% of total imports of goods.

According to published information, the tax burden per 1 kg of taxable imports was $0.44/kg, which is 53% higher than during the same period last year. Most of the goods were imported from China – $1.7 billion, Poland – $1 billion and Turkey – $760 million.

As noted, during the two months of 2023, the most goods were exported to Poland – $953 million, Romania – $609 million and China – $605 million.

According to press release, the main import categories were: machinery, equipment and transport – $2.9 billion, 17.6 billion UAH were paid to the budget, or 27% of customs duties, fuel and energy products – $2.6 billion, 16.2 billion UAH were paid, or 25%, chemical products – $1.7 billion, 11.5 billion UAH were paid, or 18%.

The top three most exported commodities from Ukraine were foodstuffs – $4.3 billion, metals and metal products – $568 million, machinery, equipment and transport – $521 million.

The State Customs Service summed up that during the customs clearance of exports of goods for which the export duty was set, the budget was paid 223.3 million UAH.