Ukraine has exported 17.764 million tonnes of grain and legumes since the beginning of the 2024-2025 marketing year as of November 27, of which 3.365 million tonnes were shipped in November, Ukrainian media reported, citing the Agrarian Policy and Food Ministry’s press service and data from the State Customs Service. Ukraine exported 2.693 million tonnes … Read more
The Serbian Chamber of Commerce (PKS) has become a co-founder and member of the newly established Alliance of Chambers of Commerce for the International Land-Sea Trade Corridor (ILSTC), aimed at connecting Western China with Southeast Asia and Europe. The announcement was made by PKS following the Alliance’s official formation. The ILSTC Chamber Alliance brings together … Read more
Georgia’s exports to the EU equaled $456 million, a 25% decline compared to 2023, seeing the EU’s share in Georgia’s total exports drop to 8.4%. Top Exported Commodities: Hazelnuts and other nuts: $45.3 million (+20% Year-on-Year) Copper ores and concentrates: $42.5 million (-85% YoY) Precious metal ores and concentrates: $39.8 million (+2,445% YoY) Oil and … Read more
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.
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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.
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The deficit of Ukraine’s consolidated balance of payments stood at $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, Ukrainian media said, citing data from the National Bank of Ukraine (NBU). The NBU said the deficit … Read more
Ukraine was also 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, Agrarian Policy and Food Minister Vitaly Koval said at a meeting of the Council on Agriculture and Fisheries (AGRIFISH) in Brussels. “It is … Read more
Ukraine’s deficit of foreign trade in goods increased 5.9% to $20.382 billion in January-September 2024 from $19.254 billion in the same period of 2023, Ukrainian media said, citing the State Statistics Service of Ukraine. Exports of goods from Ukraine increased 12.9% to $30.839 billion in January-September 2024 year-on-year, the State Statistics Service said. Imports rose … Read more
Serbia’s current account deficit widened to 3.3 billion euro ($3.5 billion) in the first nine months of the year from 767 million euro in the prior-year period, the central bank, NBS, said. The deficit in trade of goods increased by an annual 23% to 5.6 billion euro in January-September, while the surplus in trade of … Read more
Georgia’s external trade turnover amounted to $19.02 billion between January-October, posting a 5.5 percent year-on-year increase, with the list of top trading partners of the county topped by Turkey with $2.63 billion, Russia with $2.06 billion and the United States with $1.72 billion. Georgia’s external trade turnover amounted to $19.02 billion between January-October, posting a … Read more