Ukrainian exports to Europe have nearly recovered to pre-war levels, but global exports have been halved

Taras Kachka
Taras Kachka

“To date, trade between Ukraine and the European Union has actually resumed,” the deputy minister said.

“In August, exports to the EU amounted to 90% of the level of exports recorded in August 2021,”

In fact, according to data for the first three quarters of the year, exports to Europe even exceed the corresponding pre-war figures.

However, total exports globally are still only about half of their pre-war levels, he added.

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“If in January-February, Ukrainian monthly exports reached the level of $6 billion or more, now we are reaching the level of $3.4 billion — this will be the result in September,” Kachka noted.

Ukraine's exports fell the most to North Africa and Asia, while trade with Russia and Belarus has completely stopped.

Earlier, on Sept. 27, the Cabinet of Ministers approved a ban on the export of goods from Ukraine to the customs territory of Russia.

Meanwhile, Ukrainian exports to Europe were bolstered by favorable steps taken by EU countries and the Cabinet of Ministers, the minister said.

“In particular, the abolition of quotas and fees by the European Union has simplified the export of agricultural products,” Kachka noted.

In addition, from Oct. 1, a “customs visa-free regime” will start working for Ukraine, which will allow cargo to pass through Ukrainian and EU borders with even less hassle.

Read the original article on The New Voice of Ukraine