Tatyana Gracheva

Data from the National Bank of Ukraine (NBU) cited by Ukrainian media report that the deficit of Ukraine’s consolidated balance of payments equaled to $2.8 billion in September 2024 (about 1.6% of the projected 2024 GDP), compared to a surplus of $0.3 billion in September 2023 and $4.9 billion in August 2024.
According to the NBU, the deficit of the current account of the balance of payments excluding grants and reinvested income reached $2.4 billion at the end of September 2024, compared to $2.3 billion a month earlier and $1.8 billion in September 2023.
The bank reported that much smaller grants from international partners and the growing primary income deficit caused the increased current account deficit.
Overall, excluding reinvested income and grants from partners, the current account deficit rose by $4.9 billion year-on-year to $11 billion in January-September 2024, or to $15.2 billion from $12.7 billion last year.
The NBU reports that exports were growing faster than imports, so the negative balance of trade in goods and services has decreased since September 2023 to $0.5 billion compared to $0.7 billion, respectively. A particular increase was demonstrated by exports of goods. It attained 16.2% in September 2024 compared to September 2023 and 5.6% compared to August 2024 and reached $3 billion, while the increase of imports reached $5.7 billion (3% growth compared to September 2023 year and only 0.4% increase compared to August 2024).
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.

Source Link

As agrarian Policy and Food Minister Vitaly Koval said at a meeting of the Council on Agriculture and Fisheries (AGRIFISH) in Brussels, Ukraine had to reduce the burden on the borders of neighboring countries and return to its historical logistics routes in 2024, again exporting 88% of all agricultural goods through Ukrainian ports.
According to him, it is important to secure an extension of preferences for trade in agricultural products beyond June 2025 for the period until the end of the crisis and transitional period after it.
Koval highlighted that Ukraine is a large market for European goods used in agricultural production. For example, imports of seeds, plant protection products, equipment and fertilizers account for 61%, or $10 billion, in Ukraine’s entire agricultural sector, while the imports of finished European products to the Ukrainian market reached $6.95 billion.
Koval said that Ukrainian and European farmers do not have the same competitive edge. He also added that Ukraine is a partner for Europeans rather than a rival.

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.

Source Link

Georgia’s strategic importance as a logistics gateway between Europe and Asia was emphasised by Georgian Deputy Economy Minister Genadi Arveladze on Friday during a panel discussion at the 23rd ministerial session of the Central Asian Regional Economic Cooperation Programme in Astana, Kazakhstan.
The potential of the Middle Corridor as a reliable transportation route linking the two continents was also highlighted by Arveladze. According to him, the private sector’s interest in logistics projects was increasing, against the backdrop of the growing popularity of the Corridor, and Georgia’s integration into regional and international transport networks would be “greatly enhanced” by the trend.
Ongoing strategic initiatives aimed at modernising the country’s logistics framework, including the development of the Baku-Tbilisi-Kars railway, the East-West highway, and the Anaklia deep sea port project, were also outlined. According to Arveladze, the Government showed its commitment to positioning Georgia as a key player in regional logistics by the adoption of a comprehensive logistics and demonstration of transport strategy.
The importance of enhancing cooperation among CAREC countries to facilitate smooth cross-border transportation along the Middle Corridor was stressed by the Deputy Minister. According to him, digital technologies should be used to streamline transport operations.
It’s possible to expand Georgia’s transport routes, facilitate the trade and foster sustainable economic development within the CAREC region and beyond due to coordinated policies and actions among Corridor countries. Aveladze has also noticed that the Government’s priority was to enhance port infrastructure on the Black Sea and to increase ferry traffic to neighbouring ports. He attributed an uplift in cargo turnover (a 21 percent increase in the first nine months of 2024 compared to the same period last year) to more frequent ferry connections with Romania and Bulgaria.
High-ranking officials from member countries, along with leaders from international organisations such as the Asian Development Bank, the International Monetary Fund, the World Bank, and the World Trade Organisation met during the CAREC ministerial session.
Identifying strategic goals and measures for addressing climate change in the region were in the focuse of the main theme of the session.
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.

Source Link