Ukraine increases export of metallurgical products and decreases export of agricultural products in May

In May, Ukraine exported 12.2 million tons of goods worth USD 3.34 billion.

This is stated in the message of the Ministry of Economy, the Ukrainian News agency reports.

"The physical indicators of the export of goods remained close to the pre-war indicators of February 2022. According to the indicators of the physical volume, the export of goods in May 2024 is the second during the entire period of the large-scale invasion — the export volume was larger only in April of this year," the message says.

As the Deputy Minister of Economy - Trade Representative Taras Kachka explained, the export of grain products from last year's harvest traditionally decreases in May.

So, corn was exported last month in the volume of 452,000 tons less than in April (May - 3.6 million tons), wheat - by 285,000 tons less (1.6 million tons).

At the same time, a significant increase in the physical volumes of metallurgy exports was recorded in May.

In particular, compared to April 2024, the export of seamless pipes increased by 50.2%, semi-finished products - by 40%, and flat rolled products - by 17%.

"That is why it is so important that on May 31, President Biden adopted a proclamation extending the exemption of Ukrainian steel from customs duties based on Article 232. The exemption also applies to steel made in the EU from Ukrainian raw materials. By the way, autonomous EU measures also provide for the exemption of Ukrainian steel from protective customs in the EU. This gives us great opportunities for the integration of Ukrainian MMC with the EU and U.S. industry. This component of our trade policy is extremely important," said Kachka.

The physical volume of exports by road transport increased in comparison with April 2024 by 10.7% to 893,300 tons, by rail - by 3.8% to 2.751 million tons. On the other hand, the volume of exports of goods by sea decreased by 1 million tons to 8.5 million tons.

"Last month, a 1.8% increase in exports to the EU was recorded (the volume in May was USD 1.867 billion). In particular, exports to Poland increased by 12% compared to April and amounted to USD 365.8 million. An increase of 85% in exports to India was recorded, where Ukraine mainly sent sunflower oil. At the same time, exports to China decreased by 30% due to a seasonal reduction in the export of corn, which is Ukraine's main export product to this country," the report said.

As the Ukrainian News agency earlier reported, the U.S. has extended for another year the decision to suspend the 25% tariff on the import of all types of steel products from Ukraine.

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