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Donetsk region of Ukraine lost 422 million foreign exchange earnings due to falling steel exports

Ukraine / Ferrous metallurgy

Metallurgical enterprises of Donbass sold most ferrous metals to Italy, Russia and Turkey.

Donetsk region of Ukraine lost 422 million foreign exchange earnings due to falling steel exports

According to Main Department of Statistics in Donetsk region, for the first nine months of 2020, the export of ferrous metals by metallurgical plants in the region amounted to $ 2 billion 231.5 million, which is $ 469.5 million less than in January-September 2019, or 17.4%.

The weighted average price of a ton of exported metal decreased by 15.9%, as a result of which the region lost 421.9 million dollars in foreign currency earnings. Losses due to a decrease in the physical volume of exports amounted to $ 47.6 million.

A decrease in demand and prices due to the coronavirus pandemic has occurred since the beginning of 2020 in the sales markets of not only ferrous metals, but also other products, and a decrease in foreign exchange earnings received by enterprises of the region was recorded across all continents, except for the Asian market.

In general, for 9 months of 2020, foreign exchange earnings from the export of goods by economic entities of the Donetsk region (excluding part of the temporarily occupied territory) amounted to 2 billion 887.4 million dollars. The region provided 8.2% of the total value of exported goods in Ukraine as a whole and took third place after the city of Kiev and Dnepropetrovsk region.

At the same time, compared to January-September 2019, the export of goods by enterprises of the Donetsk region decreased by $ 690.7 million, or 19.3%. This is primarily due to the difficult situation in the foreign markets for the sale of ferrous metals, which for 9 months of 2020 provided 77.3% of foreign exchange earnings from the export of all goods.

МЕТАЛЛУРГПРОМ
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