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according to the NBU’s macroeconomic overview.
The export of goods in January increased by 12.3% compared to the corresponding period last year, while imports decreased by 1.1%, the National Bank reports.
Ukraine supplied $3.3B worth of goods to foreign markets in January. The most significant increases were seen in the export of mineral products, by 110% and food products by 6.2%. Among food products, the export of oils and fats (+13.5%) and food industry products (+40.8%) increased the most, while the export of cereals (- 4%) and oilseeds (-4.9%) decreased.
At the same time, the import of goods amounted to $5.1B. Reducing energy imports (- 60.6%) completely neutralized the growth of non-energy imports (+22.8%). In January, the import of goods from Asian countries increased the most ($122M, +7.3%). Imports from the US ($74M, +26.7%) and Africa ($21M, +60%) also increased. As well, imports decreased from CIS countries ($39B, -38.2%) and EU countries ($24M, -1.1%).
5.2.1 Import/export dynamics
Council of the EU backs extension of trade liberalisation for Ukraine, discussion continues The Council of the EU at a meeting on March 21-22, fundamentally supported the extension of the Autonomous Trade Measures (ATM) for Ukraine, providing preferential conditions for Ukrainian exports to the EU, but the final decision is still being agreed upon, Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna has said.
The EU has postponed approval of the trade agreement with Ukraine while discussions are ongoing. The Belgian presidency of the Council of the EU postponed approval of the trade agreement with Ukraine by the ambassadors of 27 countries to March 27. France and Poland, with the support of countries bordering Ukraine, want to make changes to the agreement that will further limit the import of agricultural products. Therefore, the leadership of the Council of the EU decided to allow a little more time prior to making a final decision. Diplomats from France give their assurance that postponing approval of the agreement means that "negotiations are ongoing" and that "the text of the agreement is not ready for adoption." In addition to Ukraine's neighboring countries, Italy, Austria, Slovenia, and Croatia also expressed their readiness to join the Franco-Polish initiative. However, Germany and the Netherlands do not want changes to the agreement. They consider it wrong that, on the one hand, the EU allocates billions of euros to support Ukraine, and on the other hand, it wants to deprive it of the opportunity to generate revenue.
Ukraine exported about 30 million tons of cargo via the so-called alternative grain corridor, the country’s president Vladimir Zelensky said following a conference call. The "grain corridor" continues to show good dynamics - we are approaching the mark of 30 million tons of cargo, of which more than 8 million tons were exported in February alone. We continue to develop alternative routes: along the Danube and through Moldova," he wrote in his Telegram channel. Earlier, Prime Minister of Ukraine Denis Shmygal announced a sixfold increase in trade turnover at Danube ports compared to
40 UKRAINE Country Report April 2024 www.intellinews.com