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5.2.1 Import/export dynamics
Through May, Ukraine’s iron ore exports dipped by 2% in volume, but doubled in value, to $3.1bn, compared to the first five months of last year. The revenue rise accelerated in May, hitting $788mn, three times the level of one year earlier, reports SteelOrbis news site. The main markets are: China – 45.5%; Czech – 9.4%; and Austria – 8.4%.
Ukraine’s exports to the EU have increased by more than one third -- or $2.7 billion -- so far this year, Prime Minister Shmygal announced in June at a Cabinet meeting. Growth picked up speed from a 12% increase registered for January-March, compared to the same period last year, In 2020, 41% of Ukraine’s foreign trade was with the EU bloc of 28 countries.
Ukraine’s exports of goods to the EU grew by 60% in the five years since Ukraine joined the Deep and Comprehensive Free Trade Area pact with the EU, Prime Minister Shmygal writes on Facebook. This year, Ukraine’s exports to the EU may hit €20bn. Last year, the EU took 41% of Ukraine’s exports of goods and services.
China-Ukraine trade during the first quarter grew by one third y/y, to $4.2bn, the Economy Ministry press office reported after Ministry officials met in June with China’s ambassador to Ukraine, Fan Xianrong. Trade Representative Taras Kachka said: “The Chinese side is interested in increasing supplies of Ukrainian soybeans, peas, barley, wheat, poultry and other products.” Ukraine’s State Consumer Service has said it is working to
31 UKRAINE Country Report July 2021 www.intellinews.com