That dollar amount results from a -17.9% decline from $49.2 billion five years earlier in 2020.
Year over year, the value of Ukraine’s exports grew by 11.7% compared to $36.2 billion during 2023.
The 5 most valuable exported products from Ukraine generated 45.9% of the Eastern European country’s total international sales. At the more detailed 4-digit Harmonized Tariff System (HTS) code level, Ukraine’s top money-making shipments were for: sunflower-seed or safflower oil, corn, wheat, iron ores or concentrates, then rape or colza seeds.
Ukraine’s Key Trading Partners
The latest available country-specific data shows that 61.1% of products exported from Ukraine were bought by importers in: Poland (10.9% of the Ukrainian total), Spain (7.1%), Germany (6.3%), mainland China (5.9%), Türkiye (5.5%), Netherlands (4.9%), Italy (4.7%), Romania (4.2%), Egypt (4%), Bulgaria (2.8%), India (2.5%) then Moldova (2.3%).
Shifting out to a continental perspective, 63.1% of Ukraine’s exports by value was delivered to fellow European countries while 26.5% was sold to importers in Asia. Ukraine shipped another 7.3% worth of goods to buyers in Africa.
Smaller percentages went to customers located in North America (2.7%), Latin America (0.4%) excluding Mexico but including the Caribbean, then Oceania (0.1%) led by Australia, Marshall Islands and New Zealand.
Given Ukraine’s population of 33.4 million people, its total $40.4 billion worth of exports in 2024 translates to roughly $1,200 for every resident in the Eastern European nation. That dollar metric exceeds the average $1,090 per capita for 2023.
Ukraine’s Top 10 Exports
The following export product groups represent the highest dollar value in Ukrainian global shipments during 2024, at the 2-digit HTS code level. Also shown is the percentage share each export category represents in terms of overall exports from Ukraine.
For a more detailed presentation of the top 100 goods exported from Ukraine, please see the section entitled Searchable List of Ukraine’s Most Valuable Export Products also below.
- Cereals: US$9.4 billion (23.3% of total exports)
- Animal/vegetable fats, oils, waxes: $5.8 billion (14.2%)
- Oil seeds: $3.4 billion (8.3%)
- Iron, steel: $3.1 billion (7.7%)
- Ores, slag, ash: $2.9 billion (7.3%)
- Electrical machinery, equipment: $1.54 billion (3.8%)
- Food industry waste, animal fodder: $1.48 billion (3.7%)
- Wood: $1.44 billion (3.6%)
- Meat: $1.1 billion (2.6%)
- Articles of iron or steel: $944.3 million (2.3%)
Ukraine’s top 10 exports in terms of product category generated over three-quarters (76.8%) of the overall value of Ukrainian global shipments.
Ores, slag and ash was the fastest grower among the top 10 export categories, up by 57.3% from 2023 to 2024.
In second place for improving export sales were oil seeds via a 19.2% advance.
Ukraine’s shipments of meat posted the third-fastest gain in value, up by 18%.
The leading decliner among Ukraine’s top 10 export categories was electrical machinery and equipment, recording a -7.6% year-over-year drop.
Searchable List of Ukraine’s Most Valuable Export Products
At the more granular four-digit HTS code level, the following searchable table displays 100 of the most in-demand goods shipped from Ukraine during 2023. Shown beside each product label is its total export value then the percentage increase or decrease since 2021.
Note that the data highlighted is from 2023, unlike the remainder of this article which focuses on 2024.
| Rank | Ukraine Export Goods | Value (US$) | YoY |
|---|---|---|---|
| 1 | Sun/safflower/cotton-seed oil | $5,121,646,000 | +2.3% |
| 2 | Corn | $5,073,824,000 | +2.2% |
| 3 | Wheat | $3,736,724,000 | +27.1% |
| 4 | Iron ores, concentrates | $2,803,206,000 | +58.7% |
| 5 | Rape/colza seeds | $1,816,842,000 | +55.5% |
| 6 | Soya beans | $1,342,558,000 | +4.8% |
| 7 | Miscellaneous oil cakes | $1,029,589,000 | +6% |
| 8 | Poultry meat | $962,709,000 | +20.4% |
| 9 | Iron or non-alloy steel products (semi-finished) | $927,721,000 | +52.5% |
| 10 | Insulated wire/cable | $835,616,000 | +4.9% |
| 11 | Hot-rolled iron or non-alloy steel products | $809,504,000 | +38.9% |
| 12 | Iron or steel tubes, pipes | $590,040,000 | +12.5% |
| 13 | Barley | $557,315,000 | +53.8% |
| 14 | Pig iron | $500,341,000 | +6.1% |
| 15 | Miscellaneous furniture | $466,222,000 | +13.6% |
| 16 | Sugar (cane or beet) | $420,450,000 | +7.5% |
| 17 | Sawn wood | $401,031,000 | -1.2% |
| 18 | Soya-bean oil | $316,979,000 | +26.1% |
| 19 | Soya-bean oil-cake, other solid residues | $304,473,000 | +7.6% |
| 20 | Bread, biscuits, cakes, pastries | $270,073,000 | +27% |
| 21 | Chocolate, other cocoa preparations | $264,448,000 | +38.6% |
| 22 | Rape/colza/mustard oil | $238,922,000 | -24.4% |
| 23 | Fruit and vegetable juices | $233,345,000 | +57.7% |
| 24 | Medication mixes in dosage | $231,282,000 | +6.6% |
| 25 | Wood packing cases, boxes, crates, drums | $218,704,000 | +4.3% |
| 26 | Sugar confectionery (no cocoa) | $215,160,000 | +15.6% |
| 27 | Seats (excluding barber/dentist chairs) | $203,344,000 | -13.3% |
| 28 | Electric water heaters, hair dryers | $198,282,000 | -28.3% |
| 29 | Frozen fruits, nuts | $185,107,000 | +40.3% |
| 30 | Parts of railway/tramway locomotives, rolling stock | $179,761,000 | +7.8% |
| 31 | Natural honey | $166,941,000 | +37.5% |
| 32 | Coiled iron or non-alloy steel bars, rods | $156,715,000 | +19.3% |
| 33 | Wood carpentry, builders' joinery | $155,040,000 | -4.3% |
| 34 | Turbo-jets | $147,722,000 | -33.6% |
| 35 | Dried shelled vegetables | $139,522,000 | +62.1% |
| 36 | Glass bottles, jars, pots, other containers | $134,029,000 | +7.4% |
| 37 | Fuel wood, wood chips, sawdust | $131,166,000 | -29.8% |
| 38 | Cold-rolled iron or non-alloy steel products | $128,465,000 | -2.8% |
| 39 | Hydraulic cements | $118,215,000 | +54.4% |
| 40 | Iron or non-alloy steel wire | $118,044,000 | +4.8% |
| 41 | Wood packing cases, boxes, crates, drums | $114,259,000 | -17.1% |
| 42 | Clays | $109,055,000 | +235.8% |
| 43 | Ethyl alcohol | $105,913,000 | +24% |
| 44 | Laminated wood (including plywood, veneer panels) | $103,595,000 | +61.1% |
| 45 | Particle board, other ligneous materials | $94,580,000 | +7.5% |
| 46 | Miscellaneous nuts | $93,083,000 | +20.4% |
| 47 | Iron or steel scrap | $91,515,000 | +73.6% |
| 48 | Cigars/cigarellos, cigarettes | $90,400,000 | +43.9% |
| 49 | Iron or non-alloy steel bars, rods | $89,695,000 | +27.5% |
| 50 | Air or vacuum pumps | $89,096,000 | +13% |
| 51 | Iron ferroalloys | $88,631,000 | -70.2% |
| 52 | Non-alcoholic drinks (not water/juice/milk) | $86,272,000 | -4.3% |
| 53 | Bottle stoppers, caps, lids | $85,372,000 | +4.4% |
| 54 | Miscellaneous iron and steel structures | $83,200,000 | +4.8% |
| 55 | Titanium ores, concentrates | $82,529,000 | +0.6% |
| 56 | Electrical energy | $81,021,000 | -18.4% |
| 57 | Wood charcoal | $78,802,000 | +5.8% |
| 58 | Radioactive chemical elements | $78,318,000 | +189.6% |
| 59 | Aluminum (unwrought) | $78,076,000 | +33.7% |
| 60 | Miscellaneous iron or steel items | $77,223,000 | -13.4% |
| 61 | Blood fractions (including antisera) | $76,567,000 | +63.4% |
| 62 | Birds' eggs in shell | $74,540,000 | +22.5% |
| 63 | Concentrated/sweetened milk, cream | $74,284,000 | +8.2% |
| 64 | Plastic packing goods, lids, caps | $74,251,000 | -2.9% |
| 65 | Refrigerators, freezers | $73,745,000 | +58.1% |
| 66 | Frozen beef | $73,427,000 | -14.1% |
| 67 | Alcohol (including spirits, liqueurs) | $72,645,000 | +4.1% |
| 68 | Electrical/optical circuit boards, panels | $70,384,000 | -6.4% |
| 69 | Lamps, lighting, illuminated signs | $70,014,000 | -11.6% |
| 70 | Plastic builders' items | $66,033,000 | +21.5% |
| 71 | Copper bars, rods | $65,392,000 | +13.7% |
| 72 | Sunflower seeds | $65,168,000 | -76.5% |
| 73 | Phone devices including smartphones | $63,328,000 | -13.9% |
| 74 | Carbon | $61,660,000 | +142.2% |
| 75 | Miscellaneous wooden articles | $60,217,000 | -6.5% |
| 76 | Textile wadding | $59,172,000 | +26.7% |
| 77 | Oil seeds | $58,413,000 | +31.5% |
| 78 | Lower-voltage switches, fuses | $57,446,000 | -3.2% |
| 79 | Pasta, couscous | $56,010,000 | +5.9% |
| 80 | Miscellaneous iron or steel tubes, pipes | $55,906,000 | -8.4% |
| 81 | Flat-rolled iron or non-alloy steel products (plated/coated) | $55,689,000 | -11.9% |
| 82 | Cheese, curd | $54,186,000 | +35.7% |
| 83 | Miscellaneous meat (preserved/prepared) | $54,128,000 | +76.9% |
| 84 | Electric sound/visual signal bells or alarms | $54,113,000 | -1.9% |
| 85 | Other diagnostic/lab reagents | $52,137,000 | +16.2% |
| 86 | Beet-pulp, brew/distilling waste | $51,132,000 | +0.5% |
| 87 | Women's clothing (not knit or crochet) | $49,308,000 | +48% |
| 88 | Butter | $48,897,000 | +17.1% |
| 89 | Men's suits, trousers (not knit or crochet) | $48,093,000 | +261.3% |
| 90 | Plastic plates, sheets, film, tape, strips | $46,239,000 | +2.6% |
| 91 | Insoles, heel cushions | $45,355,000 | +67.2% |
| 92 | Miscellaneous animal feed preparations | $43,874,000 | +9.7% |
| 93 | Starches, inulin | $42,252,000 | +12.8% |
| 94 | Miscellaneous/adhesive paper | $42,231,000 | +6.2% |
| 95 | Liquid pumps and elevators | $41,758,000 | -22% |
| 96 | Electric storage batteries | $41,397,000 | +22.1% |
| 97 | Mattresses, quilts | $41,309,000 | +13.2% |
| 98 | Casein, derivatives | $41,258,000 | +1.5% |
| 99 | Edible ice, ice cream | $41,257,000 | +26.9% |
| 100 | Base metal mountings, fittings | $40,221,000 | -24.2% |
By value, the table of 100 exported goods were worth a subtotal of US$35.6 billion or 88.2% for all products exported from Ukraine during 2023.
Note that an entry of 0% in the table’s right-most column means 2023 data was unavailable.
Products Generating Greatest Trade Surpluses for Ukraine
The following types of Ukrainian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Cereals: US$9.3 billion (Up by 13.7% since 2023)
- Animal/vegetable fats, oils, waxes: $5.5 billion (Up by 1.4%)
- Oil seeds: $2.93 billion (Up by 21.8%)
- Ores, slag, ash: $2.91 billion (Up by 56.8%)
- Iron, steel: $1.6 billion (Up by 20.2%)
- Wood: $1.2 billion (Down by -5.5%)
- Food industry waste, animal fodder: $1 billion (Up by 6.1%)
- Meat: $949.7 million (Up by 26.4%)
- Sugar, sugar confectionery: $546.7 million (Up by 10.2%)
- Furniture, bedding, lighting, signs, prefab buildings: $390.9 million (Down by -9.3%)
Ukraine has highly positive net exports particularly in the international trade of corn, wheat and barley. In turn, these cashflows indicate Ukraine’s strong competitive advantages under the cereals category.
Products Causing Biggest Trade Deficits for Ukraine
Ukraine incurred an overall -US$30.1 billion trade deficit in 2024, expanding by 9.9% from -$27.4 billion in red ink one year earlier in 2023.
Below are exports from Ukraine that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Ukraine’s goods trail Ukrainian importer spending on foreign products.
- Mineral fuels including oil: -US$8.7 billion (Down by -12.8% since 2023)
- Vehicles: -$7.5 billion (Up by 8.5%)
- Electrical machinery, equipment: -$6.8 billion (Up by 59.2%)
- Machinery including computers: -$5.7 billion (Up by 31.5%)
- Plastics, plastic articles: -$2.6 billion (Up by 1.9%)
- Pharmaceuticals: -$2.1 billion (Up by 13.3%)
- Optical, technical, medical apparatus: -$1.6 billion (Up by 22.8%)
- Aircraft, spacecraft: -$1.4 billion (Up by 89.2%)
- Fertilizers: -$1.16 billion (Down by -2.6%)
- Other chemical goods: -$1.16 billion (Up by 3.8%)
Ukraine has highly negative net exports and therefore deep international trade deficits for energy products refined petroleum oils, petroleum gases, coal and crude oil under the mineral fuels-related category.
Ukrainian Export Companies
The following companies are selected examples of leading companies headquartered in Ukraine. Wikipedia lists the biggest exporters from Ukraine. Selected examples are shown below.
- Aeromeh (aircraft)
- Azovstal iron and steel works (iron, steel)
- Bogdan group (automobile maker)
- Chumak (food processing)
- EKTA (LED displays, imaging equipment/software)
- Metinvest (mining, metals)
- Motor Sich (engines)
- Naftohaz of Ukraine (oil, gas)
- Ukrainian Automobile Corporation (automobile maker)
- Ukrtatnafta (refined oil)
- Zaporizhstal (steel)
In macroeconomic terms, Ukraine’s total exported goods represent 6.2% of its overall Gross Domestic Product for 2024 ($655.6 billion valued in Purchasing Power Parity US dollars). That 6.2% for exports to overall GDP in PPP for 2024 compares to 7.6% for 2023. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Ukraine’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Ukraine’s unemployment rate averaged 14.199% in 2024, down from an average 19.072% for 2023 according to International Monetary Fund statistics.
Domestically, Ukraine’s average inflation rate was 5.836% for 2024 down from an average 12.851% in 2023.
Ukraine’s capital city is Kiev.
See also Ukraine’s Top 10 Imports, Russia’s Top 10 Exports, Wheat Exports by Country and Ukraine’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook report on Europe: Ukraine. Accessed on March 22, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 22, 2025
International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on March 22, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 22, 2025
International Trade Centre, Trade Map. Accessed on March 22, 2025
Investopedia, Net Exports Definition. Accessed on March 22, 2025
Wikipedia, Gross domestic product. Accessed on March 22, 2025
Wikipedia, List of the biggest companies of Ukraine. Accessed on March 22, 2025
Wikipedia, List of companies of Ukraine. Accessed on March 22, 2025
Wikipedia, Purchasing power parity. Accessed on March 22, 2025
Wikipedia, Ukraine. Accessed on March 22, 2025