Ukrainian Export Volumes Almost Halve in January 2025
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Loading... - Barbro Jasen
- 11 Feb 2025
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Ukrainian exports in January 2025 totaled $3.1 billion, but the physical volume saw a significant decline, dropping from 12 million tonnes in 2024 to 6.6 million tonnes in 2025. This information was shared by Yulia Svyrydenko, First Deputy Prime Minister and Minister of Economy, on her Facebook page.
Svyrydenko emphasized the critical role of logistics, particularly sea transport, in facilitating the export of 6.6 million tonnes of goods. She noted that the normalization of operations at Ukrainian seaports is essential for supporting and increasing export volumes. The largest exports for January included:
- Corn: $521 million (2.5 million tonnes)
- Sunflower Oil: $426 million (378,000 tonnes)
- Iron Ore and Concentrates: $247 million (3.1 million tonnes)
- Wheat: $188 million (891,000 tonnes)
- Insulated Wires and Cables: $104 million (6,000 tonnes)
- Soybeans: $90 million (223,000 tonnes)
The European Union remains Ukraine's primary trading partner, with January exports to the EU amounting to $1.8 billion. Svyrydenko highlighted the importance of strengthening economic ties with the EU, stating, "We continue to work to maximize opportunities for Ukrainian business and integrate it into European value chains."
Exports to countries outside the EU totaled $1.3 billion, with Egypt, Turkey, China, and the United States being the leading markets.
In January 2025, Ukrainian exports decreased by $117 million (a decline of 3.6%) compared to December 2024. However, imports experienced a more significant reduction, falling by $1.04 billion (or 16.9%). Svyrydenko attributed this decline to several factors, including a seasonal decrease in oilseed exports and reduced metal supplies, particularly iron ore, due to low demand in China.
Despite the overall decline in export volumes, Svyrydenko noted that the export of key value-added goods remains stable, with some even showing growth. She expressed optimism about the potential restoration of export growth rates observed in the previous year.
Earlier reports indicated that Ukraine exported $41 billion in 2024, marking a 13.4% increase compared to 2023, or an additional $4.94 billion.
The significant drop in Ukrainian export volumes in January 2025 highlights the ongoing challenges faced by the country amid the war and its impact on trade. However, the resilience of key sectors and the focus on strengthening ties with the EU may provide a pathway for recovery and growth in the coming months.
