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Unblocking maritime exports will significantly strengthen the stability of the Ukrainian economy in the context of war

Unblocking maritime exports will significantly strengthen the stability of the Ukrainian economy in the context of war

“In March and April, the export of Ukrainian goods collapsed almost twice, compared to the pre-war indicators, and amounted to about $2.5 billion per month. Three months of painstaking work by the Government team and businesses allowed ramp up exports by 20%. The total amount of exports in June 2022, was already $3.2 billion. And we count on further growth,” Prime Minister of Ukraine Denys Shmyhal said during the meeting of the Cabinet of Ministers on August 2, 2022.

Shmyhal also emphasized that unblocking exports by sea would significantly strengthen the stability of the Ukrainian economy in the context of war.

“First of all, it provides opportunities for increasing foreign exchange earnings and business revenues —not only in the agricultural sector, where hundreds of thousands of people work, but in related industries as well. The second aspect is that Ukraine remains an important player in the world food market. We contribute to global food security. We are a reliable partner, and our allies around the world, who provide us with weapons and finances, value our work in this direction,” said Denys Shmyhal.

The unblocking of exports is also directly related to the new harvest that Ukrainian farmers are currently harvesting, the Prime Minister added. As of the end of July 2022, according to him, almost 12 million tons have already been collected. Meanwhile, only the wheat harvest is expected up to 20 million tons — five times more than the domestic need.

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