Exports and imports in Ukraine dropped significantly in January
7 February 08:46
In January 2025, Ukraine exported goods worth $3.1 billion, and the total physical volume of exports amounted to 9.5 million tons. This was announced by Vice Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko, Komersant ukrainskyi reports.
According to the official, maritime transport played a key role in ensuring exports, transporting 6.6 million tons of goods. Svyrydenko stressed the importance of further normalizing the work of Ukrainian seaports to maintain and increase export volumes.
The main export commodities in January were:
- corn – $521 million (2.5 million tons);
- sunflower oil – $426 million (378 thousand tons);
- iron ore and concentrates – $247 million (3.1 million tons);
- wheat – $188 million (891 thousand tons);
- insulated wires and cables – $104 million (6 thousand tons);
- soybeans – $90 million (223 thousand tons).
The European Union remains Ukraine’s main trading partner with exports of $1.8 billion in January. Exports to other countries amounted to $1.3 billion, led by Egypt, Turkey, China, and the United States.
Compared to December 2024, exports decreased by $117 million (-3.6%), and imports decreased by $1.04 billion (-16.9%). According to the Deputy Prime Minister, this decline is due to a seasonal decline in oilseed exports and a reduction in the supply of metals, especially iron ore, due to low demand in China.
At the same time, Svyrydenko noted that exports of major value-added goods remain stable, with some items showing growth. However, she did not specify which goods and figures she was talking about. The official expressed optimism that export growth rates observed last year would resume in the coming months.
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“Simplified trade regime” with the European Union
On January 1, a new trade year with the European Union began, so Ukrainian producers are rushing to ship products that the EU limits to annual quotas.
At the beginning of the full-scale Russian invasion, as a gesture of support for the Ukrainian economy and in response to the Russian naval blockade of Ukrainian ports, the European Union decided to allow the free import of Ukrainian goods into the EU. During the two years of its operation, the simplified regime has gained a lot of opponents in the EU. In particular, the governments of Bulgaria, Poland, Hungary, Romania, and Slovakia demanded to limit the import of Ukrainian products (later France joined this position). They claim that cheap agricultural products from Ukraine are swallowing up their markets.
Six major European farmers’ associations also protested strongly against Ukrainian products. Polish farmers have even organized a border blockade, not only with Ukraine but also with Germany.
Nevertheless, after fierce debate, the simplified trade regime with Ukraine was extended until June 5, 2025. However, at the request of these countries, it was severely restricted.
Thus, the provisions on duty-free trade were amended to include new “safeguards” to protect European producers.
In particular, the European Commission may take any measures it deems necessary if imports from Ukraine cause “significant disturbances” on the EU market or the markets of one or more EU Member States. In this case, the European Commission may launch an “emergency brake” for particularly sensitive agricultural products. This list includes the following products:
- poultry
- eggs
- sugar
- oats
- cereals
- corn;
- honey.
However, the European Commission has not only options but also responsibilities. If imports of these goods exceed the average import volumes recorded in the second half of 2021 and for the entirety of 2022 and 2023, customs tariffs must be restored within 14 days.
Thus, the EU has practically returned import quotas for many Ukrainian goods, albeit at a rather high level.
