The National Bank also noted the growth of imports of petroleum products and some chemical products – fertilizers and pharmaceuticals.
The traditional February increase in goods imports did not occur in 2024 due to the continuation of the blockade on the western borders. Import losses in February reached 350-400 million dollars. This is confirmed by the macroeconomic and monetary review of the NBU (April 2024).
Purchases of food products (fish, fruit/nuts), industrial products (clothing, shoes) and wood decreased the most. But there was an increase in imports of some chemical products (fertilizers and pharmaceuticals).
“This may indicate both a lower intensity of border blocking for the road transport of military goods, and a reorientation of these purchases to other trade and transport routes,” the regulator believes.
In February, the physical volumes of cereal exports were the highest since the beginning of the full-scale raid and only slightly less than in January 2022.
Exports of mining and metal industry products fell slightly. Considering the orientation of supplies of these products to Asian countries, this may be caused by the crisis in the Red Sea and the weakening of demand from China, the NBU reports.
“In general, the exports of goods in January-February were as close as possible to the indicators of a full-fledged invasion,” said the analysis.
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As is known, the Poles are protesting against the import of Ukrainian agricultural products, the plans of the European Commission to extend the economic visa-free regime in Ukraine for another year, as well as also against the EU’s “green deal”.
Let’s add that on March 28, an intergovernmental meeting between Ukraine and Poland took place in Warsaw, where the parties presented a common position on unblocking the border.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.