In October, Ukraine set a record for exports in 2024: what was shipped and where
Kyiv • UNN
In October 2024, Ukraine reached its highest level of exports, supplying goods worth $3.8 billion. The significant growth was driven by an increase in agricultural exports and the revitalization of the maritime corridor.
Ukraine shipped $3.8 billion worth of goods abroad in October, the highest level of exports in 2024, and it is projected that this year's exports in monetary terms will exceed last year's figures, the Economy Ministry said on Monday, UNN reports.
Details
"In October, Ukrainian exports in monetary terms became a record for the entire year 2024. Ukraine exported more than $3.8 billion worth of goods during the month , which is 18.7% more than in September of this year," the statement said.
"A significant increase in exports in October was made possible by an increase in the supply of agricultural products. Thus, in October, exports of agricultural products increased by 32.3% in value and by 33.8% in weight. This allowed us to increase the physical volume of exports to 10.9 million tons, which is 26.2% more than in September this year. We owe these achievements to our defenders who ensure the operation of the sea corridor despite threats from the enemy. In October, exports by sea grew by 28.2% in monetary terms and by 37.1% in weight," said Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine.
According to preliminary data, since the beginning of the year, exports of goods have reached almost $34.6 billion.
"Given the current dynamics of commodity exports, we can predict with some caution that this year's exports in monetary terms will exceed last year's figures. Let me remind you that in 2023 it was at the level of $36.2 billion. In terms of physical volumes, we have already exported more in the first ten months of 2024 than in the whole of last year. This is a preliminary 110 million tons in total for 10 months of this year, compared to 100 million tons in 2023," Svyrydenko said.
According to Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine, Ukraine exported the most goods in terms of value in October:
- sunflower, safflower or cottonseed oil (by $447.2 million or 481.3 thousand tons);
- corn (by $363.6 million or 1.9 million tons);
- wheat (by $318.2 million or 1.6 million tons);
- soybeans (by $260 million or 675 thousand tons);
- rapeseed (by $239.2 million or 476.3 thousand tons);
- iron ore and concentrates (by $166.8 million or 2.5 million tons).
Ukrainian producers exported most of their goods to Poland, Germany, Spain, Italy, and Turkey.
Overall, Ukraine exported $2.38 billion worth of goods to the EU in October (15.8% more than in September).
"The European Union is Ukraine's key trading partner," Kachka said.
