Ukraine sees 48% lower forex revenues from ferrous metals exports in Jan-Sept period

MOSCOW. Oct 9 (Interfax) - Ukraine's Metallurgical enterprises saw a 47.6% reduction in foreign exchange earnings from the export of ferrous metals in Jan-Sept 2023 compared to the same period last year to $2.08 billion.

Ukrainian media reported that, based on State Customs Service statistics, ferrous metals made up 7.66% of total export revenues during the reporting period, compared to 11.99% the year before.

Receipts from ferrous metals exports in September totaled $258.675 million, versus $200.016 million in August.

Over the nine-month period, Ukraine increased imports of these products 46.7% to $979.035 million. In September alone, $123.751 million was imported.

The State Customs Service said that Ukraine decreased exports of metal products in January-September 13.8% to $693.984 million, while imports increased 29.4% to $605.218 million. In September, $68.742 million worth of metal products were exported, while $89.645 million were imported.

As reported, Ukrainian metallurgical enterprises in 2022 reduced revenues from ferrous metals exports 67.8% compared to 2021 to $4.533 billion. Meanwhile, Ukraine reduced imports of these products 37.5% last year to $954.4 million.

In 2022, Ukraine reduced exports of metal products 18.6% to $1.053 billion, while imports fell 44.5% to $643.162 million.