Metallurgy is the main exporter of Ukraine

Metallurgy continues to maintain its position as one of the main industries that determine the country's economic level, despite the fact that production volumes have significantly decreased over the past two years. So, in 2014, the drop in production in the metallurgy was 14.5 percent and 16.4 percent in 2015, which means a drop in the industry's production by one third in relation to the level of 2013.

At the same time, metallurgy products are the main exporter of Ukraine, and their share is 20 percent of all exports, while food products - 16 percent. The reduction in metallurgy production also leads to a decrease in the inflow of export currency into the country. In 2015, the proceeds from the export of metallurgical products amounted to over $ 8 billion, and the largest exporter was Metinvest, whose enterprises are concentrated in the east of Ukraine.

Two years ago, the mining and metallurgical industry provided over 15 percent of Ukraine's GDP and 25 percent of exports. The drop in export earnings began in 2014, due to the intensification of hostilities in the eastern part of Ukraine. This led to a reduction in the utilization of production capacities at large metallurgical enterprises of the Donetsk and Lugansk regions. And yet, in the second half of 2015, metallurgical enterprises were able to increase the production of steel and pig iron.

Despite the drop in steel production, metallurgical enterprises are the largest exporters of Ukraine. The State Fiscal Service of Ukraine clarifies that in 2015 revenues from the export of products of metallurgical companies reached $ 8.08 billion, while the share of exports of ferrous metals amounted to 21.17 percent of the total volume of export earnings.