In 2024, Ukraine's exports grew by 13.4% compared to the previous year, reaching a total of $41.043 billion. First Vice Prime Minister and Minister of Economy Yulia Svyrydenko attributed this rise primarily to the normalization of Ukrainian seaports' operations. In 2024, the country exported 87.2 million tonnes of goods via sea, compared to 54.8 million tonnes in 2023 – marking a substantial increase of 28.8%. However, the transportation of goods by road saw a decrease, with only 7.6 million tonnes exported compared to 12 million tonnes the previous year.
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Despite these shifts in transport methods, the value of goods transported by road increased to $14.5 billion, up from $13.9 billion in 2023. This change highlights the importance of developing road connections with the EU. In the framework of the Ukraine Facility, the Border Infrastructure Development Strategy and Transport Strategy have already been approved.
Svyrydenko also emphasised the progress made in easing border tensions with neighbouring countries, particularly Poland, helping to restore a more familiar trade dialogue with the EU. The EU remains Ukraine's most significant trading partner, accounting for 59% of the nation's exports. In 2024, Ukraine exported $24.5 billion worth of goods to the EU, up from $23.3 billion in 2023. Imports from the EU make up 49.8% of Ukraine's total imports, with 73% of these imports transported by road across the border.
Outside the EU, Ukraine's key trade partners include China, Turkey, Egypt, India, Moldova, and the United States. Notably, corn, wheat, iron ore, and soy beans remain significant export commodities, while processed food, particularly sunflower oil, continues to lead the export list, reaching $5.073 billion in 2024.
Exports of cable products and furniture, valued at $1.26 billion and $460.6 million, respectively, also reflect the country's industrial diversification.
In conclusion, Svyrydenko stressed the government's commitment to maintaining and further expanding trade relations, particularly with the EU. The Ministry of Economy is focused on sustaining export levels and exploring new opportunities for agricultural goods and industrial products alike. The challenges ahead, however, demand continued strategic efforts in trade development.
Source: unn.ua