Ukraine boosts exports by 15% in 2024, agroexports account for half of revenue

In 2024, Ukraine increased its goods exports by 15%, reaching $41.7 billion, with agricultural exports contributing $20.9 billion, or 50% of total export revenue. This data was highlighted in a monthly report on Ukraine's wartime economy by the Centre for Economic Strategy (CES) in collaboration with the German Economic Team (GET).

Analysts noted that the mining and metallurgical complex generated $6.9 billion (17%) in export revenue, the food industry $3.7 billion (9%), and machinery $3.6 billion (9%). Sugar exports reached 750,000 tonnes, earning $420 million – the highest figure since 1997, when statistical records began.

The top 10 export products that brought the highest revenue included sunflower oil and corn ($5.1 billion each), wheat ($3.7 billion), iron ore ($2.8 billion), steel and rolled products ($2.4 billion), rapeseed ($1.8 billion), soybeans and soybean meal ($1.3 billion each), timber ($1.1 billion), poultry meat ($1 billion), furniture ($0.8 billion), steel pipes and barley ($0.6 billion each), and pig iron ($0.5 billion).

Imports rose by 11% in 2024 to $70.7 billion. Key imports included oil and petroleum products ($6.8 billion, 10%), passenger cars ($4.4 billion, 6%), pharmaceuticals ($2.0 billion, 3%), mobile phones ($1.3 billion, 2%), fertilizers ($1.2 billion, 2%), and drones ($1.1 billion, 2%).