Trends in Ukrainian export of goods: agricultural products and metal

In the first seven months of 2023, the total volume of exports from Ukraine amounted to $30.3 billion, which is 8% less than in the same period of 2022. Despite a certain slump, the agricultural sector and metal sales have the best indicators among exports of goods, Opendatabot monitoring platform informs.

This year, Ukrainian businesses increased the export of agricultural products to $13 billion, which is 4.5% more than in the corresponding period of 2021. However, agricultural export volumes have declined in recent months. The lowest figure was recorded in July — $1.3 billion.

The export of metals also experienced a significant reduction: compared with the corresponding period of 2021, it decreased by 3.5 times — to $2.4 billion.

Pavlo Martyshev, a researcher at the Center for Food and Land Use Research of the Kyiv School of Economics, associates this reduction in the export of agricultural products with the termination of the grain agreement in July 2023. According to him, negative dynamics were observed as early as June, because some of the players in this market began to wait to see what the situation would be with the export of food by sea. The expert emphasizes that this factor led to a decrease in the activity of concluding contracts for the transportation of agricultural products.

On August 12, 2023, Ukraine began registering vessels for passage through corridors in the Black Sea despite Russia's blockade.

On August 16, the first ship left Odesa through the new corridor. It arrived safely in Istanbul on August 18.