The restoration of the Black Sea ports reduces the trade deficit in Ukraine

The economy of Ukraine largely depends on the export of agricultural and metallurgical products. That is why the blocking of sea exports and the destruction of three metallurgical plants in Mariupol by Russia almost collapsed the economy of Ukraine, which was avoided only thanks to the active financial assistance of Western countries.

Increasing supplies through the Danube ports and the western borders improves the export potential, and the opening of grain corridors from the ports of Odesa, Chornomorsk and Pivdenny at the beginning of August had a positive effect on Ukraine's foreign trade balance.

According to the Ministry of Economy, during the first half of September, Ukraine exported products worth $1.818 billion and imported $1.929 billion, reducing the trade deficit to $111 million, while in August it reached $1.05 billion. Traditionally, sunflower oil ($230 million), corn ($174 million), rapeseed ($166 million), and wheat ($147 million) remained the export leaders. In addition, the export of electricity in the first half of September amounted to a record $131 million.

During the specified period, 4.1 million tons of cargo were exported, including 871,000 tons of ore, 805,000 tons of corn, and 669,000 tons of wheat, of which almost 2 million tons were shipped by sea.

If the value of 2 million tons of cargo shipped by sea amounted to $662 million, three times less was shipped by car - 585,000 tons for almost the same amount - $651 million.

EU countries remain the main consumers of Ukrainian goods, having purchased them in the amount of $1.24 billion, with the total volume of exports for the specified period amounting to $1.818 billion.

"That is why Ukraine needs economic integration into the EU internal market, which Ursula von der Leyen spoke about during her visit," the Ministry of Economy of Ukraine reports. - "But the fact that the trade deficit decreased to a minimum of $111 million in the first half of September indicates a gradual balancing of trade."