October brought Ukraine record export revenues in 2024

In October, Ukraine's exports reached their highest level in 2024. During this month, Ukraine exported goods worth more than $3.8 billion, which is 18.7% more than in September.

This was reported by the press service of the Ministry of Economy of Ukraine.

In October, exports of goods from Ukraine reached their highest level in 2024, amounting to more than $3.8 billion, which is 18.7% more than in September.

According to Economy Minister Yulia Svyrydenko, since the beginning of the year, according to preliminary data, exports have approached $34.6 billion.

A significant increase in exports in October was made possible by an increase in the supply of agricultural products. In October, exports of agricultural products increased by 32.3% in monetary terms and by 33.8% in physical volume, reaching 10.9 million tons, which is 26.2% more than in September.

This achievement was made possible with the help of our defenders, who ensure the operation of the sea corridor in the face of hostile threats. In October, exports by sea increased by 28.2% in monetary terms and by 37.1% in weight," Svyrydenko said.

"There are also expectations that this export volume will exceed the figure for 2023, which amounted to $36.2 billion. In the first ten months of 2024, 110 million tons of goods have already been exported, which is more than in the entire previous year, which amounted to 100 million tons.

In October, the most popular export items were:

• 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 dollars 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.

Most of the goods were exported to Poland, Germany, Spain, Italy and Turkey.

In October, total exports to the EU reached $2.38 billion, up 15.8% compared to September.

According to Taras Kachka, Deputy Minister of Economy of Ukraine , the EU remains a key trading partner for Ukraine. Efforts are ongoing to improve conditions for exporters in European markets and to integrate Ukrainian producers into European value chains.

Odesa region ranks fourth among the regions of Ukraine in terms of exports of goods. In the total volume of exports of goods, the largest share was accounted for by cereals (51.7%); fats and oils of animal or vegetable origin (17.3%); seeds and fruits of oilseeds (12.7%). The positive balance amounted to USD 74.4 million.

In eight months, Mykolaiv region has earned more than half a billion dollars from exports. In January-August 2024, exports of goods amounted to 590.1 million USD. This is 89.3% of the figure for the same period in 2023. Exports of seeds and fruits of oilseeds brought in the most - USD 86.5 million. Trade in cereals brought in USD 333.3 million, fats and oils of animal or vegetable origin - USD 75.9 million.

Also in Ukraine, revenues from the tourism sector increased by almost 30 percent. The lowest revenues come from Mykolaiv and Kherson regions due to the hostilities. In the first two quarters of 2024, the tourism sector transferred UAH 1.25 billion in taxes to the budget, almost 25% more than in 2021. In 2024, the sector continued to grow, and in the first half of the year, the increase was almost 29% compared to the first half of 2023.

Анна Бальчінос