Ukraine lost about $18 billion from blocking the export of agricultural products

Ukraine

Published Mar 23, 2023

Tridge summary

The head of the Center for Food and Land Use Research of the Kyiv School of Economics, Oleg Nivyevskyi, said that the total amount of damage caused to Ukraine due to the blocking of the Black Sea ports is $36 billion, of which about $18 billion is the loss from blocking the export of agricultural products.

"In 2022, the decline of the Ukrainian economy amounted to more than 30% or $60 billion. In addition to blocking ports, it was affected by numerous destructions, disruptions in supply chains and stopped production, destroyed assets," the expert said.

"During the blockade of the ports, Ukraine was unable to reorient exports in other ways in the required volumes, especially in the first six months of the war. If the grain corridor works, albeit with constant interruptions, then for other goods, deliveries by sea are impossible," Nivyevskyi added.

We will remind that the State Environmental Inspection of Ukraine estimated the damage caused to the environment by the terrorist country of the Russian Federation at more than UAH 1.5 trillion.

Original content

The head of the Center for Food and Land Use Research of the Kyiv School of Economics, Oleg Nivyevskyi, said that the total amount of damage caused to Ukraine due to the blocking of the Black Sea ports is $36 billion, of which about $18 billion is the loss from blocking the export of agricultural products. "In 2022, the decline of the Ukrainian economy amounted to more than 30% or $60 billion. In addition to blocking ports, it was affected by numerous destructions, disruptions in supply chains and stopped production, destroyed assets," the expert said. "During the blockade of the ports, Ukraine was unable to reorient exports in other ways in the required volumes, especially in the first six months of the war. If the grain corridor works, albeit with constant interruptions, ...

Source: Graintrade