The Ukrainian exports in September 2022 increased by 32% m/m

In September 2022, Ukrainian enterprises exported products worth $4.144 billion (23% more than in August 2022). This is the best result since the beginning of the full-scale invasion of the Russian Federation, reports press service of the Ministry of Economy.

The amount of Ukrainian exports in September 2022 increased by 32% m/m – up to 9.66 million tons.

Grains, sunflower oil, electricity and products of the mining and metals complex accounted for the largest share in the structure of domestic exports in this period.

The negative balance of the trade balance in September 2022 decreased by three times m/m – from $1.053 billion to $354 million.

“Now we are observing the upward dynamics of Ukrainian products’ export. If in July 2022 the exports amounted to 5.79 million tons, in August – 7.29 million tons, then in September we have 9.66 million tons. The most important success is the reduction of the trade deficit. Unfortunately, the balance of trade in goods is still negative, but at the same time, the negative indicator has decreased by three times compared to August. Let’s hope that thanks to the government’s actions to stimulate Ukrainian exports, the indicators of the trade balance will continue to improve,” noted the first deputy prime minister – Minister of Economy Julia Svyridenko.

As GMK Center reported earlier, in August 2022, Ukrainian exports to the countries of the European Union almost reached the pre-war level, and in January-September 2022, it even exceeded the pre-war indicators. It was announced by the Deputy Minister of Economy Taras Kachka. According to him, in August 2022, exports to the EU were 90% of the exports level recorded in August 2021. And in the three quarters of 2022, despite the war, Ukraine exported to the EU even several percent more than in the same period last year.

As GMK Center wrote before, the Ministry of Economy calls on banks to support Ukrainian exports of goods, works and services during the war, using the products of the Export Credit Agency (ECA). The Ministry, together with the National Bank, developed a mechanism that allows issuing affordable loans for the implementation of export contracts without collateral under ECA insurance coverage.