Exports of Ukrainian goods grew by 9% in July: there were some records
5 August 2024 22:40
In July, exports of Ukrainian goods increased by 9% to $2.97bn, while imports of goods increased by 10% to $5.3bn. This was announced by Deputy Minister of Economy, Trade Representative Taras Kachka, "Komersant Ukrainian" reports
The deputy minister noted that this growth occurred despite the fact that the physical volume of exports in July was 0.6% lower than in June.
“The main reason is a seasonal change in the crops that are exported. The volume of exported corn continues to decline – 1.56 million tonnes, 44.4% less than in June and 2.5 times less than in the peak month of April, when we exported 4.1 million tonnes of corn,” said Kachka.
Instead, exports of wheat and rapeseed increased. Ukraine exported 1.58 million tonnes of wheat, 44% more than in June. And almost twice as much as in July last year.
Ukrainian producers also exported 277 thousand tonnes of rapeseed, which is 13.5% more than in July last year. Barley exports are also reviving, with exports totalling 580,000 tonnes in July, almost twice as much as in July last year.
The deputy minister noted that the structure of Ukrainian exports includes 38 categories of goods with monthly exports of more than $10 million.
“For example, glass containers (code 7010), whose exports over the past 12 months have not fallen below $10 million and in some months have reached $12 million. Or joinery and carpentry (4418), whose exports usually range from $14 million to $16 million per month. Or furniture (9403), whose exports have gradually increased over the year from the range of $34-35 to $38-40 million per month. In July, this category of goods showed exports of $37.9 million,” he said.
“The metallurgy sector also set a record – 219,000 tonnes of semi-finished iron products (7207), the best figure since the war, 83% up on June,” the deputy minister added.
According to his information, the geographical distribution of exports remains the same. 1.67 billion (56%) is accounted for by the EU, with Poland (358 million), Spain (190 million), Germany (178 million), the Netherlands (147 million) and Italy (136 million) being the top buyers of Ukrainian goods.
Exports to China decreased by 3.1%, but remain the largest among other non-EU countries at $175 million. Exports to Egypt increased by 17.5% to $143 million in July compared to June. Exports to Turkey grew even more, by 32.7% to $134 million. Trade with India was also very good, up 137% to $89 million.
The top 10 non-EU export destinations are the Republic of Moldova ($87 million), Lebanon ($44 million), Algeria ($39.5 million), the United States ($39.2 million), Israel ($39 million), and Indonesia ($38.5 million).
“As for imports, they totalled $5.3 billion in July. In addition to traditional fuels ($604 million), cars ($306 million), medicines ($156 million), UAVs ($101 million), we have such significant imports as complex fertilisers ($102 million) and electricity ($120 million),” Kachka said.
