Ukraine's iron exports hit 219,000 tons in July, best wartime performance

In July 2024, Ukraine sold $2.97 billion worth of products abroad, a 9% increase from June, with the metallurgy sector setting records by exporting 219,000 tons of iron semi-finished products, an 83% increase from the previous month, according to Deputy Minister of Economy of Ukraine and trade representative Taras Kachka.

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"The metallurgy sector achieved a record of 219,000 tons of iron semi-finished products, marking the highest output since the war began, and reflecting an 83% increase from June," he wrote on Facebook.

The increase in monetary terms occurred despite the physical export volume in July being 0.6% lower than in June. This is due to seasonal changes in exported crops.

Corn export volumes decreased (1.56 million tons), but wheat sales increased last month to 1.58 million tons (up 44% from June). Ukrainian producers also exported 277,000 tons of rapeseed, 13.5% more than in July last year.

In July, 6.25 million tons were exported by sea (0.4% less than in June), 2.609 million tons by rail (3% less than in June), and 825,000 tons by road (5.5% more than in June).

The geographical distribution of exports remains unchanged. $1.67 billion (56%) goes to the EU, with Poland ($358 million), Spain ($190 million), Germany ($178 million), the Netherlands ($147 million), and Italy ($136 million) leading in purchases of Ukrainian goods.

Exports to China decreased by 3.1% to $175 million. Exports to Egypt increased in July by 17.5% to $143 million. Exports to Turkey (32.7%) and India (137%) showed even stronger growth.

Imports in July totaled $5.3 billion. In addition to traditional import items such as fuel ($604 million), automobiles ($306 million), medicines ($156 million), and UAVs ($101 million), last month saw additions of complex fertilizers ($102 million) and electricity ($120 million).