Corn became the main (by volume) export position of Ukraine in 2023
In 2023, compared to the previous year, Ukraine reduced product exports by 18.7% to $35.8 billion, which is one of the lowest indicators of the last decade, First Deputy Prime Minister - Minister of Economy Yuliya Svyridenko reported on her page in Facebook.
The export of the main (by volume) commodity item – corn, grew by 5% to 26.2 million tons, but its revenue decreased by 16.8%. The average price of Ukrainian corn was $188/ton, while the world average price was $227/ton. Such a difference is a discount due to logistical difficulties and the flow of profits to neighboring Poland and Romania, from where a significant part of Ukrainian grain is resold.
According to Svyridenko, logistics remains the key for Ukrainian exports. Despite all the difficulties, in 2023 Ukraine increased the export of goods compared to 2022 by 112 thousand tons to 99.8 million tons. In the second half of the year, exports exceeded $3 billion for the first time and amounted to $3.148 billion, and by weight exceeded 10 million tons and reached 10.399 million tons. This was achieved thanks to an increase in sea deliveries in December compared to November by 30.7% to 7.34 million tons. In general, in 2023, sea exports exceeded the figure of 2022 by 1 million tons. Since the new the corridor allows shipping not only grain, but in December the export of metal and semi-finished products grew by 40%, and flat rolled products - by 45.3%.
At the same time, motor vehicle exports decreased by 18.3% in December as a result of the blockade of the border with Poland, but in general for the year - by only 0.7% - the head of the Ministry of Economy reported.
Exports by container transportation, which is the most suitable for value-added products, also grew by 86%.
In 2024, Ukraine plans to restore export volumes to the level of 2021, cover export logistics with air defense systems, open alternative export routes that will avoid complications.
According to forecasts of the Ministry of Economy, exports of goods and services will grow by 9% in 2024, by 19.4% in 2025, and by 20.6% in 2026.
