Ukraine increased exports of metallurgy in May, but reduced sales of agricultural products

In May 2024, the physical volume of goods exported amounted to 12.2 million tons, and the value was 3 billion 340 million US dollars. In terms of physical indicators, exports of goods in May 2024 ranked second for the entire period of a large-scale invasion. This was reported in the Ministry of Economy, writes UNN.

Deputy Minister of economy Taras Kachka explains that in May, the export of grain products of last year's harvest traditionally decreases.

In particular, in May, 452 thousand tons less corn (3.6 million tons) and 285 thousand tons less wheat (1.6 million tons) were exported compared to April. At the same time, the physical volume of exports of metallurgical products increased significantly in May. In particular, exports of seamless pipes increased by 50.2%, semi – finished products – by 40%, and Flat Rolled Products-by 17% compared to April 2024.

Why is it so important that on May 31, President Biden adopted a proclamation that extended the exemption of Ukrainian steel from duties on the basis of Article 232. the exemption also applies to steel made in the EU from Ukrainian raw materials. By the way, the EU's autonomous measures also provide for the exemption of Ukrainian steel from protective duties in the EU. This gives us great opportunities to integrate Ukrainian MMC with the EU and US industries. This component of our trade policy is extremely important

He said that last month the physical volume of exports of goods decreased by 6.9% compared to April, May was the second month in these indicators for the entire time of a full-scale invasion.

Last month, there were also changes in export cargo flows by mode of transport. Ukraine began to export more of its goods by road and rail.

The physical volume of exports by road increased by 10.7% compared to April 2024 and amounted to 893.3 thousand tons, and by rail — by 3.8%, reaching 2 million 751 thousand tons. But the volume of goods exported by sea decreased by 1 million tons to 8.5 million tons.

The geography of goods exported has also changed. Last month, exports to the EU grew by 1.8% (the volume in May amounted to доларів 1.867 billion). In particular, exports to Poland increased by 12% compared to April and amounted to 3 365.8 million.

A significant increase of 85% was recorded in exports to India, where Ukraine mainly supplied sunflower oil. At the same time, exports to China decreased by 30% due to a seasonal reduction in exports of corn, which is the main export product of Ukraine to this country.

recall

Ukraine exported 50 million tons of cargo via the Ukrainian sea corridor in 9 months.