On September 1, 2024, the Digital Trade Agreement between Ukraine and the United Kingdom entered into force. Ukraine became the second country after Singapore to sign such an agreement with the United Kingdom. The relevant statement was made by the Ukrainian Economy Ministry, an Ukrinform correspondent reports. “The implementation of this agreement will deepen Ukraine’s … Read more
The National Statistics Office of Georgia reports that 7.5 times more vegetables were imported by Georgia in the first seven months of 2024 than were exported ($43.817 million in imports compared to $5.766 million in exports).
Tomatoes ($1.061 million), potatoes ($919,500), cabbage ($357,700), onions ($262,000), and lettuce ($40,500) were the top earners among the vegetables Georgia exported.
Tomatoes ($12.120 million), onions and garlic ($6.046 million), cucumbers ($4.885 million) and potatoes ($2.330 million) were listed among Georgia’s highest import expenses.
NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments.
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The total amount of external trade of the Republic of Serbia for the period January-July 2024 equalled to USD 42647.2 million (an increase by 2.6% compared to the same period last year) and EUR 39421.1 million (an increase by 2.8% compared to the same period last year).
An increase by 1.1% was demonstrated by the value of exports (USD 18497.4 million) when compared to the same period last year. A growth by 3.8% relative to the same period last year was shown by the value of imports (USD 24149.8 million).
The value of exports increased by 1.3% compared to the same period last year and reached EUR 17097.7 million. The value of imports grew up by 4.0% compared to the same period last year and attained EUR 22323.4 million.
An increase of 13.8% in relation to the same period last year was shown by the deficit (USD 5652.4 million). Expressed in Euros, the deficit increased by 14.2% compared to the same period last year and reached 5225.7 million.
A decrease by 2 % was demonstrated by the export – import ratio compared to the same period last year.
The highest level of the external trade with the counties with which Serbia has signed agreements on free trade was noted in the reference period. 59.5% of total external trade was accounted for European Union member countries.
The exports of cereals and produces thereof, beverages. road vehicles, oil and oil derivatives and electricity to the CEFTA countries brought Serbia surplus in external trade that amounted to USD 1816.6 million. Serbian exports in the referent period reached USD 2765.7 million, while the imports were USD 949.1 million, with the export– import ratio equalled to 291.4 %. Exports attained 2556.6 EUR and imports reached 877.3 million (surplus amounted to EUR 1679.3 million and export – import ratio equalled 291.4%).
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.
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The overall external trade in the Republic of Serbia for the period January-July 2024 amounted to: – USD 42647.2 million – which was an increase of 2.6% compared to the same period last year; – EUR 39421.1 million – which was an increase of 2.8% compared to the same period last year. The value of … Read more
In the first seven months of 2024, Georgia imported 7.5 times more vegetables than it exported, with $43.817 million in imports compared to $5.766 million in exports, according to the National Statistics Office of Georgia. Among the vegetables Georgia exported, the top earners were tomatoes ($1.061 million), potatoes ($919,500), cabbage ($357,700), onions ($262,000), and lettuce($40,500). … Read more
Hungarian Agriculture Minister Istvan Nagy said at a meeting with Ukrainian Deputy Economy Minister and Kiev’s Trade Representative Taras Kachka in Budapest on Monday that ban on the imports of Ukrainian agricultural produce will be maintained, but its transit will be permitted. He also promised to try to persuade the European Union to draw up rules that will take Hungarian farmers’ interests into account.
As he said, the Autonomous Trade Measures adopted by Brussels will be in effect until June 5, 2025.
Poland will take over the EU presidency from Hungary in the first half of 2025 and plans to continue discussions on and the implementation of the EU’s green policy, amend the EU’s common agricultural policy and create conditions for Ukraine’s future membership in the EU.
Polish Agriculture Minister Czeslaw Siekierski mentioned Ukraine’s vast agricultural production potential and said that it is a large agricultural exporter. That makes amendment of the EU’s common agricultural policy and adoption of rules that would help keep individual EU agricultural markets stable necessary.
Temporary measures liberalizing trade with Ukraine were extended by the Council of the European Union for another year until June 5, 2025 on May 13, 2024. However, an “emergency brake” for imports of particularly sensitive food products from Ukraine, specifically sugar, eggs, poultry, oats, corn, groats and honey, was included. Restrictive measures are triggered by this emergency brake if imports of these products in 2024 exceed the average quantities imported in the second half of 2021 and in the course of 2022 and 2023.
Ukrainian duty-free exports to the EU market in the amount of 57,101 tonnes of poultry meat, 9,662 tonnes of eggs, 109,439 tonnes of sugar, 18,507 tonnes of honey, 4,648 tonnes of corn, 1,017 tonnes of oat, and 8,603 tonnes of groats between June 6, 2024 and June 5, 2025 is permitted by article 4(7) of the Regulation on Autonomous Trade Measures applicable to Ukrainian products under the EU-Ukraine Association Agreement.
Quotas are imposed on imports of Ukrainian eggs and sugar from June 2, 2024 to June 5, 2025 by the European Commission, as previously reported. It set the new quota at 9,662 tonnes of eggs and 109,440 tonnes of sugar. Moreover, it reinstated quotas on Ukrainian honey imports to the EU market on August 21. The EU will introduce a new tariff quota from January 1, 2025 to June 5, 2025, corresponding to 5/12 of the threshold that triggers the emergency brake. It will set the new quota for honey at 18,507 tonnes.
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.
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Hungary will maintain its ban on the imports of Ukrainian agricultural produce, but will permit its transit and will try to persuade the European Union to draw up rules that will take Hungarian farmers’ interests into account, Hungarian Agriculture Minister Istvan Nagy said at a meeting with Ukrainian Deputy Economy Minister and Kiev’s Trade Representative … Read more
The company Serbia Cargo has opened the tender for forwarding services worth RSD 60 million. The tender envisages the regular and temporary import and export of, among other things, train engines, rail cars and equipment, the preparation of the accompanying documentation, as well as the preparation of the national transit document. The deadline for applying … Read more
Galt & Taggart noted in this week’s review that 5.2% of Georgia’s exports go to the European Union and 69.5% are sent to CIS countries. “5.2% of exports went to the European Union (-29.9% y/y), 69.5% to the CIS (+37.2% y/y) and 25.3% to other countries (+33.9% y/y),” they noted. “Further, imports into Georgia rose … Read more
According to analysts from First Ukrainian Agricultural Cooperative (FUAC), Ukraine’s barley exports in September (280,000 tonnes) will fall down by half compared to August (600,000 tonnes) due to a drop in purchases of this crop by China, which used to export more than half of Ukraine’s barley.
China’s focus will probably be shifted to Australian barley, which will be received in December-January. According to First Ukrainian Agricultural Cooperative (FUAC), without Chinese contracts, monthly exports of Ukrainian barley will not exceed 300,000 tonnes.
The domestic market starts to react to these changes: some traders are already stopping barley acceptance, switching to other crops, such as corn.
According to the analyst, there was a high correlation between the barley and wheat markets, and there will be a rise in both wheat and barley prices.
FUAC said that the notional barley prices are still in the range of $170-172 per tonne. The wheat market is expected to pull the barley market along with it. Therefore, a slight barley price increase may be expected by the end of August and beginning of September, but after that barley may become a more niche crop.
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.
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