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The fall in steel prices has reduced the foreign currency proceeds to the budget of Ukraine

Ukraine / Business and Finance

Only in Donetsk region for the first nine months of 2019, a fall in foreign currency earnings from export of ferrous metals amounted to almost $ 300 million.

The fall in steel prices has reduced the foreign currency proceeds to the budget of Ukraine

Since the beginning of 2019, there is a negative tendency of reduction of prices in external markets of ferrous metals for 9 months provided in the region for 80.9 per cent of foreign exchange earnings of the Donetsk region's exports of goods.

As reported in Main statistics in Donetsk region, the total value of export supplies of ferrous metal amounted to 2 billion 702,6 million dollars, compared with January–September 2018 is less than 9.4%. The weighted average price per ton of exported metal fell by 9.7%, resulting in not received 291,2 million dollars of foreign exchange earnings.

For comparison, exports of all goods enterprises of the region decreased for the first 9 months of 2019, compared to the same period of 2018 to 313,5 million dollars. That is, 92.9% of this reduction was due to decline in export prices of ferrous metals.

Total for 9 months of 2019 foreign exchange earnings from the export of goods from the Donetsk region (excluding the part temporarily occupied territory) amounted to 3 billion of 342.5 million dollars. The region accounted for 9.0 percent of the total value of the exported goods in the whole Ukraine and took third place after Kyiv and Dnipropetrovsk region.

In January–September 2019 enterprises of Donetsk region exported products to 115 countries of the world.

As before, in the first place Italy, where for 9 months of the exported goods on 834,3 million (25.0 percent of the total), but this is 12.8% less than in January–September of 2018. The foreign exchange earnings from the supply of goods to Italy the proportion of ferrous metals made up 92.9%, of which 87,6% is the semi – finished products from carbon steel, which fell the most (by 16.9%).

foreign Exchange earnings from exports of goods to the Russian Federation, which continued to occupy second place, has decreased for 9 months of 2019, compared with January–September 2018 3.2% and amounted 463,7 million, or 13.9% of the total. However, in Russia aimed 53.7% of exported engineering products in the region. In foreign exchange earnings from exports of goods to the country specific weight of engineering products amounted to 25.2%, while in the region of 6.5%.

Currency proceeds from exports of goods in the United States, which for 9 months of 2019 were 99.5% is provided at the expense of ferrous metals decreased in comparison with January–September 2018 by 34.3% and amounted to 224,2 million dollars, or 6.7% (third place).

Export of goods to the European market, amounting to 1 billion 723,3 million, or 51.6% of the total, decreased in comparison with January–September 2018 7.1%.

In these conditions, the company was forced to seek new markets, particularly in Asia and Africa, however there significantly worsened export opportunities in such traditional partners like Turkey and Egypt.

foreign Exchange earnings from exports of goods to Asia for 9 months of 2019 made 563,6 million (16.9% of the total), compared with the same period of 2018 is less than 3.5%. The foreign exchange earnings from exports of goods to Turkey has been halved.

Export of goods to the African continent, amounting to 150,5 million dollars, or 4.5% of the total, decreased in comparison with January–September 2018 17.1%, including in Egypt – by 28.7%.

in addition to ferrous metals for 9 months of 2019, compared to the same period of the previous year reduced the export of finished food products – by 5.1%, products from ferrous metals – by 25.9%, chemical products – twice. Foreign exchange earnings from export deliveries of machine building products grew in comparison with January–September 2018 24.4%.

МЕТАЛЛУРГПРОМ
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