Politics 2022-07-28T04:03:51+03:00
Ukrainian news
Exports from Ukraine down 23.7% to USD 22.8 billion in H1

Exports from Ukraine down 23.7% to USD 22.8 billion in H1

Ukraine, exports, down, H1


In the first half of 2022, exports from Ukraine decreased by 23.7% year over year to USD 22.8 billion.

Deputy Minister of Economy / Trade Representative Taras Kachka has written this on Facebook, Ukrainian News Agency reports.

At the same time, export volumes in the second quarter of 2022 amounted to USD 8.782 billion, which is down 37.4% year over year and down 45.8% compared to the second quarter of 2021.

"At the same time, in physical volumes, the decrease in quarterly exports was even more significant - 55.6%, that is, by 20.8 million tons. In the second quarter of quarter, we exported 16.6 million tons of cargo. Obviously, the main reason for the reductions is the blocking of ports. The reduction in shipping by sea in the second quarter compared to the first amounted to 86.5% (minus 21.6 million tons)," Kachka wrote.

He said that in May and June, exports resumed growth after a sharp drop in March, while exports increased both in value and in volume.

"In June, we exported 5.8 million tons of cargo worth USD 3.177 billion. At the same time, it should be noted that in June there was a significant reduction in iron ore exports - 1.75 million tons against 2.27 million tons in May. At the same time, exports of sunflower seeds increased significantly to 537,000 tons in June, while oil remains the most profitable export item at USD 437 million. The top 10 exports in June include: oil, corn, sunflower seeds, ore, steel, wires, poultry meat, pipes, cast iron, soybeans," Kachka wrote.

According to him, geographically, exports are fully focused on the EU.

"78% of our exports in the second quarter of 2022 were directed to the EU. The total value of exports to the EU in the second quarter was USD 6.86 billion, which is up 6.4% year over year. At the same time trade with other countries of the world decreased in the second quarter of 2022 compared to the second quarter of 21 by 80%," Kachka said.

As Ukrainian News Agency earlier reported, on June 4, the abolition of European Union duties on all Ukrainian exports for 1 year came into force.


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