The NBU assessed Ukraine's losses from the blockade of the Ukrainian-Polish border

16/05/2024 10:16

In the first month of the blockade by Polish farmers of checkpoints on the border of Ukraine, direct losses of goods imports amounted to $500 million, exports - $160 million. This is stated in the Inflation Report of the National Bank of Ukraine.

"The blockade of the western borders hampered the import of goods due to a significant share of road transport in its transportation. This somewhat restrained production and investment activity, as well as the activity of the service sectors, primarily trade. The impact of the blockade was manifested not only through the reduction of physical volumes of deliveries, but also indirectly through the extension of deadlines and more expensive deliveries by alternative routes," the report says.

In the future, it was possible to partially compensate for them: the loss of imports - by increasing supplies by other means, and exports - by launching and increasing the capacities of the new sea corridor.

"Thanks to the full operation of the new sea corridor, Ukraine will not only be able to compensate for losses from the blockade of borders and the introduction of grain licensing, but also to return to traditional foreign markets," the NBU added.

Such trends are already being observed. In recent months, Ukrainian food is returning to the markets of Asia and Africa, and metallurgical products to the markets of Asia and America.

 

We will remind, on April 29, Polish protesters unblocked all checkpoints on the border with Ukraine. The protests have been going on since November 2023.

In the first month of the blockade by Polish farmers of checkpoints on the border of Ukraine, direct losses of goods imports amounted to $500 million, exports - $160 million. This is stated in the Inflation Report of the National Bank of Ukraine.
"The blockade of the western borders hampered the import of goods due to a significant share of road transport in its transportation. This somewhat restrained production and investment activity, as well as the activity of the service sectors, primarily trade. The impact of the blockade was manifested not only through the reduction of physical volumes of deliveries, but also indirectly through the extension of deadlines and more expensive deliveries by alternative routes," the report says.
In the future, it was possible to partially compensate for them: the loss of imports - by increasing supplies by other means, and exports - by launching and increasing the capacities of the new sea corridor.
"Thanks to the full operation of the new sea corridor, Ukraine will not only be able to compensate for losses from the blockade of borders and the introduction of grain licensing, but also to return to traditional foreign markets," the NBU added.
Such trends are already being observed. In recent months, Ukrainian food is returning to the markets of Asia and Africa, and metallurgical products to the markets of Asia and America.
We will remind, on April 29, Polish protesters unblocked all checkpoints on the border with Ukraine. The protests have been going on since November 2023.

 

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