Business news from Ukraine

UKRAINIANS SELL, BUY $1 BLN OF CURRENCY ONLINE IN 2019

The volumes of buying and selling currency online by individuals in Ukraine in 2019 were almost equal – $1 billion each, according to the website of the National Bank of Ukraine (NBU). According to the report, the abolition of restrictions on buying currency online for individuals did not lead to pressure on the foreign exchange market – about 7% of the cash market operations simply switched to online banking platforms.
“The National Bank will continue currency liberalization in the future. In particular, after the implementation of the split law, the National Bank will allow selling currency online not only to banks, but also to non-banking financial institutions that will come under the supervision of the NBU from mid-2020,” the regulator said.
As reported, on February 7, 2019 the law on currency and currency transactions entered into force. It foresees the introduction of more than 20 exemptions in the foreign exchange market. In particular, online purchase of foreign currency by individuals is allowed, while transferring funds in foreign currency between individuals (except relatives) will still be prohibited.
At the same time, from November 5, 2019 the central bank canceled the daily limit on the purchase of foreign currency and banking metals, which amounted to UAH 150,000.

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DYNAMICS OF CHANGES IN POPULATION OF UKRAINE FROM 1991 TO 2019

Dynamics of changes in population of Ukraine from 1991 to 2019

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UKRAINIAN PRODUCER OF CROP PROTECTION AGENTS BOOSTS PRODUCTION BY 25% IN 2019

Ukravit, a large Ukraine producer of crop protection agents and micronutrient fertilizers boosted production in 2019 by 25%, to 11,000 tonnes. The company told Interfax-Ukraine last week that its share of the Ukrainian crop protection agents and micronutrient fertilizers market in 2019 was around 10%. The company said that this year, Ukravit launched the seventh production facility in Cherkasy with an area of 1,300 square meters, which allowed to increase production by 1,100 tonnes compared to 2018, to 11,000 tonnes. Investment in the project exceeded $3 million.
According to the report, in 2019, the company also began to switch to direct sales and currently has 12 regional sales offices throughout Ukraine.
In addition, Ukravit expands the workshop for the production of plastic containers and storage facilities, renews its fleet.
The company this year began the construction of a plant manufacturing crop protection agents and micronutrient fertilizers in Uzbekistan, but has not yet disclosed project details.
Ukravit was founded in 1999. It is engaged in production and sale of pesticides, fertilizers, means for destruction of rodents and household insects.

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3,000 UKRAINIAN HOUSEHOLDS INSTALL PV PANELS IN Q3 2019

Around 3,000 households in the period from July through September 2019 installed photovoltaic (PV) panels with a total capacity of almost 70 MW, the press service of the State Agency for Energy Efficiency and Energy Saving said on the website on Tuesday.
“The switch to clean electricity allows saving money on electricity bills, encourages the use of energy-efficient appliances, changes behavior to energy-saving,” the agency said.
According to the report, as of October 1, 2019, about 15,000 households in Ukraine are already using clean electricity by investing EUR 300 million in PV panels. The total capacity of the installed PV panels is almost 350 MW.
The leaders among the regions in the use of alternative generation are: Dnipropetrovsk region (around 50 MW), Ternopil (near 37 MW) and Kyiv (some 27 MW).

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