As of November 18, 2024, Ukraine has exceeded last year’s export figures, which amounted to $36.2 billion in total for 2023. This was announced by Ukraine’s First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, on her social media. She reported that Ukraine’s exports have now reached $36.3 billion, marking a significant achievement amid the ongoing war.
Read more: “National cashback”: One-fifth of Ukrainians who received funds for September already spent them
Growth in physical export volume
Not only has the value of exports grown, but Ukraine is also seeing an increase in the physical volume of exports. Over the first 10 months of 2024, Ukraine exported over 110 million tons of goods. In comparison, the physical export volume for all of 2023 was over 100 million tons. It is now clear that by the end of 2024, both the physical volume and the financial value of exports will exceed last year’s figures.
Key export products
The main export products of Ukraine in 2024 include:
- Sunflower oil: $4.4 billion (5.3 million tons);
- Corn: $4.2 billion (25.5 million tons);
- Wheat: $3.4 billion (19.0 million tons);
- Iron ore: $2.5 billion (29.7 million tons);
- Rapeseed: $1.7 billion (3.5 million tons);
- Isolated wires and cables: $1.1 billion (60.5 thousand tons);
- Soybeans: $1.1 billion (2.8 million tons).
Achievements due to several factors
These results were made possible by several factors:
- Accelerated export of new crop products;
- Stable operation of the “Ukrainian Maritime Corridor”;
- Recovery of production in Ukraine.
Support for exports through the Export Credit Agency
A key step in strengthening Ukrainian exports has been the work of the Export Credit Agency (ECA). In October 2024, the ECA supported Ukrainian exporters with 6.6 billion UAH, marking significant progress compared to last year, when the figure was 4.99 billion UAH.
These figures demonstrate growth in Ukrainian exports even in the challenging conditions of war and blockade, as well as the gradual recovery of economic activity in the country.
