Ukraine cuts fuel and energy imports by almost 35.6% this year

MOSCOW. June 13 (Interfax) - Ukraine reduced fuel and energy imports by 34.6% in monetary terms year-on-year, from $5.2 billion in January-May 2023 to $3.4 billion in the first five months of 2024.

As reported by Ukrainian media, according to statistics from the State Customs Service, the overall foreign trade of Ukraine stood at $44.3 billion in January-May 2024, including $27.5 billion imports (versus $25.4 billion a year earlier) and $16.8 billion exports ($16.5 billion).

"At the same time, taxable imports amounted to $23.7 billion, or 86% of the total volume of imported goods. The tax burden on one kilogram of taxable imports amounted to $0.50/kg in January-May 2024, up 10% from the respective period of 2023," the customs said.

Ukraine imported most of the goods from China to a total sum of $5.3 billion ($3.9 billion a year earlier), Poland - $2.9 billion ($2.7 billion) and Germany - $2.2 billion.

The largest exports went to Poland - $1.7 billion ($2.3 billion last year), China - $1.4 billion, and Spain - $1.4 billion.

Out of all goods imported in January-May 2024, 65% were machinery, equipment and transport worth of $9.4 billion (69.2 billion hryvni, or 31% of customs duties paid to the budget), chemical industry products worth of $5.1 billion (36.8 billion hryvni, or 16% of custody duties), as well as fuel and energy products worth of $3.4 billion (54.6 billion hryvni, or 24% of customs duties).

According to the customs, the top three Ukrainian exports were foods worth of $10.8 billion (versus $10.1 billion in the first five months of 2023), metals and metal products worth of $1.8 billion ($1.7 billion in 2023) and mineral products worth of $1.6 billion.

Customs duties paid to the budget over the first five months of 2024 stood at 128 million hryvni, or more than three times less than last year.