In the first four months of 2025, Ukraine experienced a 10.2% decrease in iron ore exports compared to the same period in 2024, totaling 11.15 million tons.
This information was provided by GMK Center based on data from the State Customs Service.
China remains the largest importer of Ukrainian iron ore, receiving 6.01 million tons (-2% year-on-year). Slovakia received 1.57 million tons (-15% year-on-year), while Poland received 1.54 million tons (+3.4% year-on-year).
In April 2025, iron ore exports amounted to 2.654 million tons, which is 8.4% lower than in March and 22% lower compared to April 2024. Specifically, 1.44 million tons (-7% month-on-month) were sent to China, 405.24 thousand tons (-17.7% month-on-month) to Slovakia, and 383.86 thousand tons (+12.8% month-on-month) to Poland.
The revenue from exports in April reached $205.2 million (-13.9% month-on-month; -22.6% year-on-year), while for January-April it totaled $892.99 million (-20.9% year-on-year).
GMK Center emphasizes that several external market factors and internal economic and administrative challenges are affecting the export of iron ore. "The decline in demand from key trading partners, price instability for raw materials, high logistics costs, and tax imbalances complicate the operations of companies that traditionally contribute a significant portion of foreign currency receipts to the budget," the publication states.
Reminder:
It was previously reported that in 2024, Ukraine exported goods worth $41.627 billion, which is $5.44 billion, or 15% more than in 2023.
The Deputy Minister of Economy – Trade Representative of Ukraine Taras Kachka noted that due to the opening of navigation in ports, iron ore emerged as the leader in export volumes, amounting to 33.6 million tons, which is 89% more compared to 2023, and in monetary terms, the increase was 58% - to $2.8 billion.
It was also previously reported that the physical volume of goods exported from Ukraine increased by 28.8%, reaching 129.3 million tons.
In 2024, Ukraine exported semi-finished iron products worth $927.5 million, hot-rolled products worth $802 million, pig iron worth $500 million, and pipe products worth $577 million.