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Ukraine’s Exports in 2022: Record-High Expectations Marred by russian Invasion

2022 could have been a historic year for Ukraine in terms of exports, were it not for Russia’s full-scale invasion. Earlier in the year, from January to February 2022, Ukrainian exports demonstrated positive growth compared to the same period last year, with an increase in exports by 34%. However, in March, there was a drastic drop in supplies, with a reduction of 50%.

As a result of the difficult 2022, Ukraine’s exports of goods amounted to 100 million tonnes, totaling $44.2 billion, which is 35% less than in 2021.

The agricultural and food sectors remain the most exported goods among sectors, accounting for 53% of total exports in 2022. Significant volumes of exports are also made up of metals, at 13.6%. The third sector was mineral products, at 9.8%. The most affected sectors are metallurgy (-62.5%), chemistry (-54.3%), minerals (-48.6%), and paper (-48%).

Detailed information on export volumes by each month, country, and commodity group can be found in the interactive dashboard recently presented by the Office of Entrepreneurship and Export Development and Diya.Business.

In 2022, Ukraine exported services worth $9.2 billion, which is 28.3% less than in 2021. The most exported types of services in 2022 were telecommunications, computer and information services (40.5% of all exported services, or $3.7 billion), transportation services (32.3%, or $3 billion), and business services (11.2%, or $1 billion).

The only category that showed growth in 2022 is services related to financial activities (+76.7%). In contrast, the most affected were government and public services (-86.7%), insurance services (-81.7%), repair and maintenance services (-57.1%), and services to private individuals, cultural, and recreational services (-56.4%).

As a result of the complex 2022, Ukraine exported its goods and services to 233 countries and territories worldwide. The main trading partners of Ukraine are Poland, Romania, and Germany.

In conclusion, Ukraine’s exports experienced a challenging year in 2022, largely due to the impact of Russia’s invasion. However, there were still some sectors that performed well, such as agriculture and food, metals, and financial services. While the country has a lot of work to do to recover from the effects of the invasion, there is hope that with the right measures in place, exports could see growth in the coming years.

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