In 2023, Ukraine saw an increase in export volumes, reaching almost 100 million tons of goods. This is 112,000 tons more than in 2022. However, in terms of value, the indicator declined by 18.7% or $35.8 billion.
Despite the overall decline in the export of Ukrainian goods, positive trends are observed in the furniture market. Compared to 2022, last year saw a growth of 11% in volume and 7% in monetary receipts. Additionally, Ukraine exported 1.7 times more sugar last year.
However, for most export items, the Ukrainian economy experienced a decrease in revenue in 2023. For example, the largest export item by volume, corn, brought in 16.8% less revenue, despite a 5% physical growth compared to the previous year. In 2023, Ukraine exported 26.2 million tons of corn.
"The revenue from exports last year reached one of the lowest levels in the last decade. This is an expected and objective result that resulted from logistical problems. We are slowly solving them now. We launched an alternative corridor in the Black Sea, developed river transportation on the Danube, and negotiations with the Polish side on border unblocking are ongoing. Thanks to these measures, in December - for the first time in the second half of the year - we exported over $3 billion. Also, in December, we exported more than 10 million tons for the first time since March," noted Ukraine's First Vice Prime Minister and Minister of Economy Yulia Svyrydenko.
She mentioned that, with joint efforts of the Ukrainian government and international partners, exports by sea are increasing. In December, compared to November, this indicator increased by a third, reaching 7.34 million tons of cargo.
In total, in 2023, Ukraine exported almost 1 million tons more by sea than the previous year. Besides grains, other goods, including metals, are also exported through this channel. After the launch of an alternative maritime corridor, the export of products in this category increased. For instance, in December, compared to November, the export of semi-finished products increased by 40%, and flat products increased by 45.3%.
On the other hand, the export by road transport continues to decrease, mainly due to the Polish border blockade. In December, compared to November, the indicator dropped by 18.3%. However, the losses for the year are insignificant, only -0.7%. Negotiations are ongoing at all levels to resolve this issue.
Meanwhile, Ukraine has increased exports through container transportation - +86% by rail and +36% by road. Currently, this is the most efficient mode of transportation for value-added products.
Unlike exports, imports increased in monetary terms last year, amounting to $62.2 billion. Ukraine mostly imported fuel for $7.8 billion, "miscellaneous" goods for $3.7 billion, pharmaceuticals for $1.7 billion, and UAVs for $681 million. Also, top import items include automobiles, fertilizers, and plant protection products.
Yulia Svyrydenko also noted that last year Ukraine experienced a significant trade deficit of $26.4 billion. Two key factors contributing to this were logistics problems and defense needs in 2023. Therefore, in 2024, the government will continue working to strengthen export logistics with PPO systems and explore new ways of exporting goods and services. It will also support the localization of defense industry enterprises in Ukraine.
