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Ukraine poultry export to Jordan. “Today Ukraine is one of the world's top ten exporters of chicken and has the status of a country free of highly pathogenic avian influenza. The new agreement between Jordan and Ukraine for the export of poultry products brings concrete results: Ukrainian companies and Jordanian consumers can be confident in the uninterrupted supply of products from Ukraine," said Ukrainian Foreign Minister, Dmytro Kuleba. Both countries also agreed on forms of certificates for the export from Ukraine of chilled frozen beef, chilled sheep meat, cattle, and sheep for the slaughter, reported gov.ua.
Food exports were up 59% y/y in September, reports Alfa-Bank Ukraine. Analysts write: “In particular, 4.35mn tons of wheat were sent abroad, the highest amount ever exported in a single month.” $1bn in September exports.
To meet strong demand, largely from Turkey, Ukraine increased exports of ferrous scrap 27 times January to August, to $176 million, reports the State Customs Service. Scrap metal collection was up by 43% yoy, to 2.6 million tons. Even though only 15% of scrap was exports, steelmakers are lobbying the government to ban, or tightly limit, exports of scrap, a key component for making such streel construction components as beams and metal roofing.
Through September, exports of ferrous metals were up 80% yoy, to $10.3 billion, reports the State Customs Service. During the period, exports of metal products were up by 33% yoy, to $870 million.
Coal imports are up 12% yoy through August as Ukraine increases its dependency on Russia, reports Coal Hub news site. Of Ukraine’s 13.1 million tons of coal imports, 72% came from Russia, 18% from Kazakhstan; and 10% from the US. During the first eight months of last year, Russia accounted for 59% of Ukraine’s coal imports. With stocks low as winter approaches, Energy Minister German Galushchenko plans to import 600,000 tons of coal this month.
5.2.2 Current account dynamics
Ukraine’s current account (C/A) switched to a deficit of $492mn in September from a surplus of $189mn in the prior month mostly due to a deteriorated trade balance and the primary account, the National Bank of Ukraine (NBU) preliminarily reported on October 29.
The goods trade deficit enlarged to $415mn from $181mn in August, the surplus of trade in services slid to $238mn from $248mn. The deficit of the primary account enlarged to $793mn from $266mn in August mostly due to coupon payments on state Eurobonds for $446mn during the month. At the same time, the surplus of the secondary account increased to $478mn from $388mn in August.
In 9M21 the C/A deficit amounted to $1.4bn (vs. a $4.6bn surplus in 9M20).
Goods exports surged 59% y/y in September (vs. 53% y/y growth in August) to $6.0bn. The growth was mostly driven by a surge in exports of ferrous metals (2.3x y/y). In addition, food exports accelerated to 59% y/y growth (vs. 26% y/y
24 UKRAINE Country Report November 2021 www.intellinews.com