Falling imports in Ukraine among freight costs rising

Falling imports in Ukraine among freight costs rising

For 2 months of 2021, container terminals in Ukraine handled 161.2 thousand TEU, which is 12.8 thousand TEU or 7.3% less than in the same period last year.

The decrease was caused by dropping of export indicators for transshipment of containers with agricultural products (increased freight costs). The reason for that was the lack of harvest caused by the drought in the new 2020/2021 marketing year, as well as by increase of prices that happened because of the COVID pandemic and shortages caused by it.

In addition, the decrease in import of cars and consumer goods had an impact on the indicators. Import is down because of rising freight rates, which were boosted by a shortage of containers around the world at the end of 2020. The global economy in general has been significantly negatively impacted by the COVID-19 pandemic. Most governments are taking all possible measures to reduce the spread of the disease and increase economic and trade activity. In 2020, the governments of the countries of the world have already allocated $ 11.7 trillion, or 12.9% of global GDP, to stimulate economies that have suffered from quarantine measures associated with the pandemic.

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