In January-September of this year, Ukrainian mining companies reduced their exports of iron ore raw materials (IORM) by 4.4% in physical terms compared to the same period last year, from 25 million 250,417 thousand tons to 24 million 145,038 thousand tons.
According to statistics released by the State Customs Service (SCS) on Wednesday, foreign currency proceeds from iron ore exports decreased by 16.7% during this period, from $2 billion 175.032 million to $1 billion 812.831 million.
Exports of raw materials were mainly to China (44.83% of shipments in monetary terms), Slovakia (16.9%), and Poland (16.58%).
In addition, in January-September 2025, Ukraine imported mineral resources worth $80,000 in the amount of 107 tons from the Netherlands (55%), Italy (28.75%), and Norway (16.25%), while in the same period last year it imported 813 tons worth $248,000.
As reported, in 2024, Ukraine increased its exports of raw materials by 89.8% compared to 2023, to 33 million 699.722 thousand tons, and foreign exchange earnings grew by 58.7%, to $2 billion 803.223 million UAH.
In 2024, Ukraine imported mineral resources worth $414,000 in a total volume of 2,042 tons, while in 2023, 250 tons of these raw materials were imported worth $135,000.
In 2023, Ukraine reduced its exports of raw materials by 26% in real terms compared to 2022, to 17 million 753,165 tons. Foreign exchange earnings amounted to $1 billion 766,906 million (a decrease of 39.3%). A total of 250 tons of mineral resources were imported for $135,000.
The Embassy of the People’s Republic of China in Ukraine organized a formal reception in Kyiv to mark the 76th anniversary of the founding of the PRC. The event was attended by representatives of the diplomatic corps, Ukrainian authorities, business circles, and the Chinese diaspora.
In his welcoming speech, Chinese Ambassador to Ukraine Ma Shengkun emphasized that China has gone from being a post-conflict state to the world’s second largest economy, and today strives for “high-quality development” and global cooperation. “We have built a society of universal prosperity, lifted 800 million people out of poverty, and created the world’s largest education, healthcare, and social security systems,” he said.
The diplomat noted that between 2021 and 2024, China’s GDP grew by an average of 5.5% per year, and China’s economy is expected to exceed US$19.5 trillion in 2025. Ma Shenkun also mentioned successes in the field of high technology: the development of 5G infrastructure, electric vehicles, space and quantum projects.
He stressed that China and Ukraine are strategic partners: “Our cooperation is based on the principles of mutual respect, mutual benefit and sustainable development. In 2025, we have already signed two protocols on the export of Ukrainian peas and water resources to China.”
In addition, the ambassador expressed understanding for the challenges Ukraine faces today and assured that China will continue to advocate for a ceasefire and the promotion of a peaceful settlement.
During the reception, toasts were made to strengthen Sino-Ukrainian friendship, and cultural performances and exhibitions reflecting the cultural heritage of both countries were presented.
Ma Shengkun took office as Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Ukraine on November 26, 2024.
Diplomatic relations between Ukraine and China were established on January 4, 1992. The Chinese Embassy in Kyiv began operating in December 1992.
In terms of total trade volume, Ukraine cooperates most closely with China, Poland, and Germany. These countries form the basis of the state’s foreign economic relations, exerting a critical influence on imports and exports.
China remains the leader with a total trade volume of $8.99 billion. Poland ranks second with $6.04 billion, while Germany and Turkey are almost equal with $4.28 billion and $4.25 billion, respectively. The United States ranks fifth with $2.86 billion.
The top 10 also includes Italy ($2.38 billion), the Czech Republic ($1.64 billion), Bulgaria ($1.54 billion), Hungary ($1.53 billion), and Romania ($1.50 billion).
“The top ten partners form the basis of Ukraine’s foreign trade balance. China and the EU countries account for the largest volumes of trade, but it is important to take into account the significant negative balance in relations with these countries,” said Maksim Urakin, founder of Experts Club and economist.
He added that although the large volume of trade indicates Ukraine’s integration into global supply chains, dependence on imports from China and Europe creates strategic risks.
“Poland and Germany are key hubs for Ukrainian exports, but at the same time they are significant sources of imports. Therefore, it is critically important to balance trade flows, preserving positive sectors such as agriculture and metallurgy, and reducing dependence on critical imports,” Urakin noted.
BULGARIA, CHINA, CZECH REPUBLIC, ECONOMY, EXPERTS CLUB, FOREIGN TRADE, GERMANY, HUNGARY, ITALY, POLAND, ROMANIA, TURKEY, UKRAINE, USA, МАКСИМ УРАКИН
China remains the undisputed leader among Ukraine’s trading partners in terms of import volume. In the first six months of 2025, Ukraine imported Chinese goods worth US$8.15 billion. This is more than twice the figures for Poland ($3.58 billion) and Germany ($3.18 billion), which ranked second and third, respectively.
High import volumes were also recorded from Turkey ($2.53 billion) and the United States ($2.31 billion). Italy, the Czech Republic, Slovakia, Bulgaria, and France round out the top ten key suppliers with volumes ranging from $1.2 billion to $979 million.
“The formation of such an import structure indicates Ukraine’s excessive dependence on Chinese goods, especially in the electronics, technology, and industrial products segments. Such an imbalance poses risks to economic stability, as any political or logistical restrictions will immediately affect the domestic market,” emphasized Maksim Urakin, founder of Experts Club and economist.
At the same time, experts point to the diversification of supplies from European Union countries. Poland, Germany, Italy, and France together account for more than $8.5 billion in imports, forming a significant segment of the domestic consumer and industrial market.
Economists predict that, provided the hryvnia exchange rate remains stable and import flows continue at current levels, the trade deficit with China will continue to grow. This will require an adjustment of state trade policy towards stimulating domestic production and searching for alternative markets.
ACTIVE GROUP, CHINA, ECONOMY, EU, EXPERTS CLUB, GERMANY, IMPORTS, POLAND, SunFlower Sociology, TRADE BALANCE, TURKEY, UKRAINE, USA, МАКСИМ УРАКИН
According to the results of the first half of 2025, Poland remains Ukraine’s main trading partner in terms of export volumes. According to research by Active Group and Experts Club, exports to Poland amounted to US$2.45 billion.
Turkey ranks second with USD 1.71 billion, and Italy ranks third with USD 1.17 billion. Other major partners include: Germany ($1.09 billion), Spain ($976 million), the Netherlands ($919 million), China ($847 million), Egypt ($776 million), Romania ($679 million), and Hungary ($652 million).
“The structure of Ukraine’s exports shows a clear focus on European Union countries. Poland, Italy, Germany, Spain, and the Netherlands together account for more than half of total exports. This indicates Ukraine’s strategic integration into the European economic space,” emphasized Maksim Urakin, founder of Experts Club and economist.
He also noted that Turkey remains a critically important partner for Ukrainian agricultural and metallurgical exports, while China and Egypt are key markets for agricultural products, particularly grains.
“The presence of trading partners such as Egypt and China diversifies Ukrainian exports,” Urakin added.
CHINA, ECONOMY, EGYPT, EXPERTS CLUB, EXPORTS, GERMANY, HUNGARY, ITALY, POLAND, ROMANIA, TRADE, TURKEY, UKRAINE, МАКСИМ УРАКИН
According to the results of a survey conducted by Active Group in collaboration with Experts Club in August 2025, Ukrainians identified priority areas for the development of foreign economic relations.
The majority of respondents – 81.3% – believe that Ukraine should first and foremost develop economic cooperation with the countries of the European Union. The United Kingdom also received a high level of support – 66.5%, while the United States came in third with 62.7%.
Citizens also pay significant attention to Asian countries: 36.2% of respondents support expanding relations with Southeast Asian countries (Japan, South Korea, etc.), and 31.7% with China. At the same time, 29.5% pointed to the importance of deepening cooperation with countries in the Arab and Muslim world.
To a lesser extent, respondents are focused on partnerships with African and South American countries — this direction was supported by 14.8% of Ukrainians. Another 8.3% of respondents were undecided, and 1.0% believe that Ukraine does not need any new economic partnerships.
“These data clearly demonstrate the European and transatlantic orientation of Ukrainians in terms of economic priorities. The EU, the UK, and the US form the basis of foreign economic trust, while Asia and the Arab world are perceived as promising but secondary partners,” commented Active Group Director Oleksandr Pozniy.
According to Experts Club co-founder Maksim Urakin, the survey results confirm the real economic structure of Ukraine’s trade.
“The EU is already Ukraine’s main trading partner, accounting for over 40% of trade turnover, but if we analyze individual countries, China remains the leader. The high levels of support for cooperation with the UK and the US reflect society’s trust in Ukraine’s political and economic partners during this difficult period. At the same time, interest in Asia and the Arab world indicates the need to diversify markets and seek new opportunities in the future,” he stressed.
The survey was conducted using self-completed questionnaires among 800 Ukrainian citizens aged 18 and older. The sample is representative in terms of age, gender, and region.
ACTIVE GROUP, Arab countries, CHINA, EU, EXPERTS CLUB, GREAT BRITAIN, JAPAN, Pozniy, SOCIOLOGY, SOUTH KOREA, TRADE, UKRAINIAN ECONOMY, URAKIN, USA
