International trade in goods in the first half of the year is stable compared to last year's level - trade representative
Kyiv • UNN
Ukraine's exports in the first half of 2024 remained stable at $19.5 billion compared to the same period in 2023, despite a 35% increase in physical exports to 71 million tons, due to significant price fluctuations for major export commodities.
Ukraine's international trade in goods remained stable in the first half of this year, with exports stabilizing at $19.5 billion compared to the same period in 2023, while imports of goods reached $31.9 billion during this period, up 4.9% from last year, Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka said, according to UNN.
Details
"International trade in goods in the 1st half of the year is stable compared to the 1st half of 2023. Exports for the first 6 months of this year amounted to $19.5 billion and are identical to the figure for the first half of 2023," Kachka wrote on Facebook.
At the same time, he said, "the capacity for physical export volumes increased by 35% and amounted to 71 million tons in the first half of the year." "Over the year, there was a significant correlation in prices for the main export commodities, which explains the phenomenon when the volume of exports in weight is much higher, but the revenue remains stable," he said.
According to Kachka, the increase in the capacity of trade routes has an interesting effect on the pace of exports by month.
"After record-breaking April and May, exports in June amounted to $2.7 billion and 9.7 million tons, respectively. This is a significant decrease compared to May. -It was down 18.4% in terms of money and -20.2% in terms of volume. The main reason is the end of last year's harvest. Corn was exported by 23.7% less in June, wheat by 40.8% less, and oil by 37.8%. The top 10 export commodities remained stable: ore 239 million (-1.5% compared to May), poultry 79 million (-3.5% compared to May), flat products 79 million (+7%), soybeans 66 million (+45%)," the trade representative said.
Imports in June, according to him, were also 5.6% lower, amounting to $4.8 billion. "And in the first half of the year, Ukraine imported goods worth $31.9 billion, which is 4.9% more than in the first half of last year," Kachka said.
