Ukraine increases revenue from ferrous metal exports to almost US$1 billion

In January-April this year, Ukraine's metallurgical businesses increased revenues from ferrous metal exports by 16.56% year-on-year to US$959 million. 

Source: Ukraine’s State Customs Service, as Interfax-Ukraine reports

Details: Thus, ferrous metals accounted for 7.14% of total revenues from exports of goods during this period, compared to 6.18% in January-April 2023. In April, revenues from ferrous metal exports totalled US$207 million. 

At the same time, Ukraine increased imports of similar products by 25.8% to US$454 million in January-April this year. In April, products worth US$131 million were imported. 

In addition, in the first four months of 2024, Ukraine reduced exports of metal products by 8.1% to US$306 million. In April, they were exported for US$77 million. 

Imports of metal products increased by 47.2% to US$326 million over the same period. In April, these products were imported for US$92 million. 

Background:  In the first four months of 2024, Ukrainian steelmakers increased production of pig iron by 25%, steel by 33%, and rolled products by 30.5%. Steel production increased by 24.5% compared to April 2023.

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