Ukrainian iron ore mining enterprises reduced their export volumes by 11.9% in the first half of 2025 compared to the same period in 2024. A total of 16.14 million tons of iron ore raw materials were exported abroad over six months.
This is reported by Finway
Positions in Foreign Markets and Export Structure
In previous years, iron ore was one of the leaders of Ukrainian exports, especially after the ports resumed operations, which significantly increased supply volumes. However, by the end of 2024, export revenue from iron ore sales ranked only third among the largest exporters, following grains — corn and wheat. By mid-2025, iron ore is no longer among the top three exported goods from Ukraine.
Despite this, the role of mining and beneficiation plants in the economy remains significant. The share of iron ore raw materials in the country’s total export turnover is 6.35%, which substantially supports the state’s balance of payments.
Factors Contributing to the Decrease in Export Volumes
The main reason for the decline in iron ore exports, according to analysts, is the cooling of the global economy.
In addition, experts highlight a number of additional challenges that negatively affect the competitiveness of Ukrainian iron ore products in the global market. Among the key issues are abnormally high production costs. Enterprises are forced to bear additional financial burdens due to the state of war: this includes rising tariffs from state monopolies, high costs of imported energy, as well as a shortage of qualified personnel and direct losses from Russian shelling of production infrastructure.