During the year, Ukraine’s mining and metallurgical exports declined by 72%.

Ukraine’s total exports decreased by 38% last year. Correspondingly, the drop in commodity exports of iron and metal products last year amounted to 46% and 72%, respectively. According to the GMK Center the destruction of production capacities in Mariupol and logistical problems resulted in mining and metallurgical complex product exports, mainly metal products, decreasing sharply. In general, the export of iron ore in 2022 amounted to 23.9 million tons (-45.9%) for $2.9B (-57.8%). The key factor for the drop in ore exports was the closure of seaports and a decrease in demand on the EU market. According to estimates, monthly losses of metallurgical exports for Ukraine reached $420M due to blocked seaports. As well, the seaport situation led to Ukrainian exports being reoriented to EU markets, where the largest importers are Poland $6.6B, Romania $3.8B, Hungary $2.27B, and Germany $2.23B.