As of August 1 last year, within the framework of international agreements, Ukraine exported 18.4 million tons of grain.

Meanwhile, seaborne metallurgical exports have remained on hold since the start of the Russian invasion, and the country is losing $630 million in foreign exchange every month.

Unblocking the export of metal through the ports will give the country more than $8 billion and help curb inflation.

Focus magazine writes about it.

The publication notes: MMC depends more than other sectors of the Ukrainian economy on export opportunities, on foreign markets Ukraine sold about 60% of mining products and 80% of metal.

About 70% of metallurgy products were sent abroad through sea ports.

Currently, there is no such possibility, because of which the country loses hundreds of millions.

"Under the current price conditions on world markets, Ukraine does not receive more than $630 million in foreign exchange earnings every month due to the impossibility of exporting MMC products through ports.

In annual terms, we are talking about an additional $8 billion in foreign currency income coming to Ukraine, which will contribute to strengthening the hryvnia and slowing down the growth of consumer prices," Focus writes.

The experts interviewed by the publication emphasize that the opening of ports for Ukrainian metal will allow to restore the loading of both metallurgical enterprises and related industries, which will significantly increase tax revenues to the budget.

"Representatives of the Ukrainian authorities declare their desire to open the sea corridor for metallurgical exports as well.

In particular, the First Deputy Prime Minister - the Minister of Economy of Ukraine Yulia Svyridenko stated at the World Economic Forum in Davos (Switzerland) that Ukraine wants to expand steel exports in addition to an important agreement on grain exports," the publication notes.

Earlier, the president of the Ukrainian National Committee of the International Chamber of Commerce ICC Ukraine, Volodymyr Shchelkunov, said that it is necessary to achieve the unblocking of sea ports and the expansion of the export nomenclature to all types of products produced in Ukraine.

This will provide our country with an income of at least $20 billion per year and a significant increase in GDP.

In addition, it will help Ukrainian industries to restore and increase production.

Read also:

  • Ukraine news

  • War in Ukraine

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