Ukraine’s exports of rolled metal products plummeted between 2021 and 2024, Deputy Economy Minister and Trade Representative Taras Kachka said.
The top three commodity groups where exports saw the largest declines in terms of value over those four years also include iron ores and iron concentrates (-$4.1 billion) and semi-finished steel products (-$3.17 billion), Ukrainian media said, citing the statistics presented by Kachka at the International Trade Forum in Kiev on Wednesday.
Grain, exports of which dropped by $2.9 billion, and sunflower oil, exports of which went down by $1.27 billion, are among the top five such goods.
They are followed by pig iron, exports of which declined by $1.14 billion, ferroalloys (-$955 million), alumina (-$621 million), nitrogen fertilizers (-$605 million), and gas turbine engines (-$387 million).
Meanwhile, Ukraine’s exports that saw the largest growth between 2021-2024 were soybeans (+$737 million), sugar (+$407 million), poultry meat (+$246 million), rape seeds (+$159 million), and vegetable and fruit juices (+$135 million).
This group also includes ethyl alcohol (+$82 million), chocolate (+$76 million), Portland cement (+$72 million), soybean oil meal (+$49 million), and plywood (+$45 million).
As regards the structure of Ukrainian exports, in 2024 raw materials and low-tech products accounted for 66.3% of the country’s total exports (versus 52% in 2021), metal products and metal processing for 10.4% (24.2% in 2021), and engineering products for 8.4% (8.9% in 2021).
As previously reported, Ukrainian businesses reduced their consumption of rolled metal products by 6.26% year-on-year to around 3.288 million tonnes in 2024, following a 119% year-on-year increase to 3.506 million tonnes in 2023.
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