Over the first 7 months of 2023, Ukraine reduced its foreign currency earnings from the export of ferrous metals by 53.6%

During the first seven months of the current year, Ukraine reduced its foreign currency income from the export of ferrous metals by 53.6%, while gradually narrowing the difference. The country's metallurgical enterprises decreased their profit from the export of ferrous metals by 53.6% in January-July of this year, compared to the same period last year – to $1.621 billion.

According to data published by the State Customs Service (SCS), ferrous metals accounted for 7.44% of the total volume of export revenue for this period, compared to 13.61% in the first 7 months of 2022.

In July, foreign currency income from the export of ferrous metals amounted to $206.685 million, showing a decrease compared to the previous month when it was $277.888 million.

For the first seven months of this year, Ukraine also increased imports of similar products by 51.8%, reaching a mark of $718.782 million. In July, the import of this product amounted to $112.462 million.

It is also worth noting that over seven months, Ukraine reduced the export of metal products by 11.3% compared to the same period last year, reaching $561.009 million. In July, the volume of metal product exports amounted to $59.195 million.

During this time, the import of metal products also increased by 23.3%, reaching $432.906 million. In July alone, Ukraine received such products worth $73.702 million.

Background. Earlier, Mind wrote that Fitch confirmed the stability of Metinvest due to foreign assets.