Ukrainian exports set a record in October: which goods brought the most revenue
4 November 2024 11:18
In October, Ukraine’s exports in monetary terms became a record for the whole of 2024. Ukraine exported more than $3.8 billion worth of goods during the month, which is 18.7% more than in September of this year. This is reported by "Komersant Ukrainian" with reference to the Ministry of Economy.
In total, since the beginning of the year, according to preliminary data, exports of goods have reached almost $34.6 billion.
First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine Yulia Svyrydenko said that a significant increase in exports in October was made possible by an increase in the supply of agricultural products. In October, exports of agricultural products increased by 32.3% in value and 33.8% in weight.
“This allowed us to increase the physical volume of exports to 10.9 million tons, which is 26.2% more than in September this year. We owe these achievements to our defenders who ensure the operation of the sea corridor despite threats from the enemy. In October, exports by sea grew by 28.2% in monetary terms and by 37.1% in weight,” Svyrydenko said.
According to her, since the beginning of the year, according to preliminary data, exports of goods have reached almost $34.6 billion.
“Given the current dynamics of commodity exports, we can predict with some caution that this year’s exports in monetary terms will exceed last year’s figures. Let me remind you that in 2023 it was at the level of $36.2 billion. In terms of physical volumes, we have already exported more in the first ten months of 2024 than in the whole of last year. This is a preliminary 110 million tons in total for 10 months of this year, compared to 100 million tons in 2023,” said Yulia Svyrydenko.
According to Taras Kachka, Deputy Minister of Economy of Ukraine – Trade Representative of Ukraine, Ukraine exported the following products in October:
- sunflower, safflower or cottonseed oil (by $447.2 million or 481.3 thousand tons)
- corn (by $363.6 million or 1.9 million tons)
- wheat (by $318.2 mln or 1.6 mln tons);
- soybeans (by $260 mln or 675 thsd tonnes);
- rapeseed (by $239.2 million or 476.3 thousand tons);
- iron ore and concentrates (by $166.8 million or 2.5 million tons).
Ukrainian producers exported most of their goods to Poland, Germany, Spain, Italy, and Turkey.
Overall, in October, Ukraine exported $2.38 billion worth of goods to the EU (15.8% more than in September).
“The European Union is Ukraine’s key trading partner. That is why we are making every effort to ensure the most favorable conditions for our exporters to access European markets and integrate Ukrainian producers into European value chains,” said Taras Kachka.
