Ukraine is updating its export strategy: Aiming to increase the share of exports in GDP to 33%
Kyiv • UNN
The Ministry of Economy is developing a new export strategy until 2030 with a focus on the production of high value-added products and the "Made in Ukraine" policy. Key goals include increasing exports to $77 billion.
Ukraine is updating its export strategy, with a focus on processing, the "Made in Ukraine" policy and new opportunities for business, the Ministry of Economy said on Thursday, UNN reports.
Details
"The main priority of Ukraine's export strategy until 2030, which is currently being developed by the Ministry of Economy, will be the development of production of products with high added value and the expansion of opportunities for Ukrainian exporters," said Deputy Minister of Economy - Trade Representative Taras Kachka.
The new strategy focuses on the implementation of the "Made in Ukraine" policy, stimulating the processing industry, modernizing export support tools and strengthening cooperation between the state and business.
"It is important for us to increase the production and export of Ukrainian goods and services with advanced processing and higher added value," Kachka emphasized.
Key goals
Key goals of the export strategy until 2030:
- growth of exports of goods and services to USD 77 billion per year;
- increase in the share of exports in GDP to 33%;
- reduction of the share of raw material exports to 59%.
For comparison: in 2024, exports provided about $51 billion in foreign exchange earnings to the economy. At the same time, the share of exports in GDP has decreased from 49% in 2014 to 25% in 2023 over the past 10 years. The ministry also calls the high share of raw materials in exports a significant problem.
Directions
The strategy envisages three main directions:
- strengthening the institutional capacity of the state in the field of export support;
- creating a favorable environment for export activities;
- increasing production in Ukraine.
To achieve these goals, it is planned to launch new instruments and improve existing support mechanisms, in particular:
- launching a mechanism of government financial support for exports, improving existing financial mechanisms;
- development of the ECA, the Office for Entrepreneurship and Export Development, and the creation of the Export Development Fund;
- improving the quality of trade and economic representation of Ukraine's interests abroad;
- expanding business access to educational, informational and consulting services.
"The implementation of the Strategy will take into account the needs of post-war reconstruction and Ukraine's approximation to EU standards. It is expected to ensure the renewal of the export structure, increase the competitiveness of Ukrainian goods and services and adapt to the requirements of European markets," the statement said.
What's next
The draft Strategy and operational plan of measures will soon be published on the website of the Ministry of Economy for public discussion.