Business news from Ukraine

Business news from Ukraine

Ukrainian mining companies increased iron ore exports by 2.1 times

18 May , 2024  

In January-April this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.1 times compared to the same period last year, to 11 million 28,545 thousand tons.

According to statistics released by the State Customs Service (SCS) on Friday, foreign exchange earnings from iron ore exports increased 4.1 times to $2 billion 409.852 million over the period under review.

At the same time, 9 million 4.370 thousand tons of iron ore worth $863.315 million were exported in 3 months of 2014.

Iron ore was exported mainly to China (43.03% of supplies in monetary terms), Slovakia (16.29%) and Poland (13.67%).

In January-April 2024, Ukraine imported iron ore worth $72 thousand in a total volume of 252 tons, while in January-April 2023, it imported $41 thousand in a total volume of 67 tons. Imports were carried out from the Netherlands (29.17%), Italy (25%) and Norway (18.06%).

As reported, in 2023, Ukraine decreased the export 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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