Ukraine’s exports up by 13.4% in 2024 – economy ministry

Ukraine’s exports reached USD 41 billion in 2024, which is 13.4% higher compared to last year.

The relevant statement was made by the Ukrainian Economy Ministry, an Ukrinform correspondent reports.

“According to the preliminary data, in 2024, Ukraine’s exports in value terms increased by at least 13.4%, in volume terms – by 28.8%. As of December 26, 2024, Ukraine exported 129.2 million tonnes of goods, totaling USD 41.043 billion,” the report states.

As noted by Ukrainian Deputy Prime Minister, Economy Minister Yuliia Svyrydenko, the key factor of growing exports was the normalization of Ukrainian sea port operations. The volume of goods shipped by sea increased from 54.8 million tonnes in 2023 to 87.2 million tonnes in 2024.

“Despite all the challenges on the land border with the EU, this year we have exported USD 24.5 billion worth of goods to the EU, which is more than USD 1 billion higher compared to 2023. It is also more than 59% of our total exports this year,” Ukrainian Economy Deputy Minister, Trade Representative of Ukraine Taras Kachka emphasized.

The major trading partners of Ukraine also included China (USD 2.3 billion), Türkiye (USD 2.1 billion), Egypt (USD 1.6 billion), India (USD 986 million), and Moldova (USD 935 million).

Ukraine’s exports consisted mainly of agro-processed products. In particular, Ukraine exported more than USD 5 billion worth of sunflower oil, USD 945 million worth of sunflower meal, USD 945 million worth of poultry meat, USD 408 million worth of sugar, and USD 311 million worth of soybean oil.

Ukraine’s metallurgical exports were reviving, including semi-finished iron products (USD 927.5 million), hot-rolled steel (USD 802 million), pipes (USD 577 million), and pig iron (USD 500 million).

A significant portion of exports was represented by commodities, such as corn (USD 4.9 billion), wheat (USD 3.68 billion), iron ore (USD 2.75 billion), and soybeans (USD 1.29 billion). In the manufacturing industry, the highest numbers were achieved by the producers of cables (USD 1.26 billion) and furniture (USD 460.6 million).

“Next year, Ukraine will focus on finding a solution to unlock the EU market for sensitive agricultural products, such as corn, cereals, bran, honey, sugar, eggs, and poultry meat,” Kachka concluded.

A reminder that Ukraine exported 100.3 million tonnes of goods in 2023, totaling USD 36.1 billion.