The volume of exports of goods from Ukraine in May 2024 amounted to 12.2 million tons

The volume of exports of goods from Ukraine in May 2024 amounted to 12.2 million tons for a total amount of $3.34 billion. Although the physical volume of exports decreased by 6.9% compared to April, the value of exports decreased by only 0.5%. This was reported by the Ministry of Economy of Ukraine.

Physical indicators of goods exports remain close to pre-war levels in February 2022. In terms of export volumes, May 2024 ranked second for the entire period of the large-scale invasion, second only to April of this year.

Deputy Minister of Economy and Trade Representative of Ukraine Taras Kachka explained that the export of grain products from last year's harvest traditionally decreases in May. Thus, the export of corn in May amounted to 3.6 million tons, which is 452 thousand tons less than in April. Export of wheat decreased by 285 thousand tons and amounted to 1.6 million tons.

On the other hand, a significant increase in the physical volume of exports of metallurgy products was recorded in May. In particular, the export of seamless pipes increased by 50.2%, semi-finished products by 40%, and flat rolled products by 17% compared to April 2024.

"It is particularly important that on May 31 US President Joe Biden signed a proclamation extending the exemption of Ukrainian steel from customs duties. This exemption also applies to steel manufactured in the EU from Ukrainian raw materials. By the way, autonomous EU measures provide for the exemption of Ukrainian steel from protective duties in EU. This opens up great opportunities for the integration of Ukrainian metallurgy with the EU and US industry. This component of our trade policy is extremely important," Kachka emphasized.

He added that despite a 6.9% decrease in physical exports of goods compared to April, May was the second largest month of exports during the entire period of the full-scale invasion. This testifies to the stability of Ukrainian exports even in difficult conditions.