Ukraine reduces forex earnings from ferrous metal exports by 64% for ten months

KYIV. Nov 15 (Interfax-Ukraine) – Metallurgical enterprises of Ukraine in January-October of this year reduced revenues from the export of ferrous metals by 63.9% compared to the same period last year – to $4.155 billion from $11.525 billion.

According to statistics released by the State Customs Service, ferrous metals accounted for 11.26% of total merchandise export earnings over this period, compared to 21.16% in January-October 2021.

In October, proceeds from the export of ferrous metals amounted to $189.836 million, while in September – $241.452 million.

At the same time, in January-October of this year, Ukraine reduced imports of similar products by 38.4%, to $769.084 million. In October, it was imported for $101.658 million.

In addition, during the specified period, Ukraine reduced the export of metal products by 12.8% – to $903.198 million. In October, they were delivered for $98.277 million.

Import of metal products for January-October decreased by 40% – to $533.529 million (in October – $65.634 million).

As reported, Ukraine in 2021 increased foreign exchange earnings from exports of ferrous metals by 81.4% compared to 2020, to $13.951 billion. Ferrous metals accounted for 20.49% of total revenues from exports of goods over this period against 15.63% for 2020.

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