Ukraine’s EU exports exceed pre-war levels – Ministry of Economy
OLEKSII PAVLYSH – THURSDAY, 29 SEPTEMBER 2022, 10:19
Data from August 2022 indicates that Ukraine’s export to European Union (EU) member countries has almost reached its pre-war level. Data from the first through third quarters of 2022 suggests that Ukraine’s EU exports have in fact exceeded the corresponding pre-war levels.
Source: Taras Kachka, Deputy Minister of Economics and Ukraine’s Trade Representative, on the 24/7 national newscast
Quote from Kachka: "Trade between Ukraine and the European Union has practically returned to normal. In August, [Ukraine’s] EU exports reached 90% of the exports in August 2021.
Over the first three quarters of 2022, we have made several per cent more exports to the EU than in the first three quarters of 2021, despite the war."
"Several steps taken by the EU countries and the Ukrainian government have facilitated the trade activity of Ukraine’s exporters. For example, the European Union’s lifting of quotas and customs fees has facilitated the export of agricultural products. ‘Solidarity lines’ introduced by the European Commission to help Ukraine, and the strengthening of [Ukraine’s] customs infrastructure have also contributed to the revival of trade."
Details: A "customs visa-free regime" between Ukraine and the EU will come into force on 1 October, with the Convention on a Common Transit Procedure and the Convention on the Simplification of Formalities in Trade in Goods officially taking effect for Ukraine. This will allow cargos to cross the borders between Ukraine and EU countries even faster.
However, Kachka also said that Ukraine’s overall exports have decreased by more than half compared to the pre-war level.
"In January-February, Ukraine exported over US$6 billion per month; now we are reaching the level of US$3.4 billion, which is the approximate number for September," the Deputy Minister said.
Exports to North Africa and Asia have decreased the most and are only now beginning to recover in the context of the grain initiative and the opening of Ukrainian sea ports. Kachka also added that all trade with Russia and Belarus has been completely stopped.
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