According to the data released by Ukrainian association of metal producers Metallurgprom, Ukraine at the end of 2014 may see its currency income from exports of ferrous metal products (iron ore, pig iron, rolled steel and pipes) fall by 13.6 percent year on year to $16.05 billion ($18.57 billion in 2013). The reduction of currency income was seen due to the decline in exports of steel products and the decrease in prices of steel products in the foreign markets this year. The trend is expected to continue in 2015.
In 2014, it is projected that Ukraine's currency income from exports of iron ore will fall by 12.4 percent to $3.251 billion, with income from pig iron exports to decrease by 9.7 percent to $743 million, income from rolled steel exports to decline by 11.7 percent to $10.965 billion, and income from steel pipe exports to decline by 32.6 percent to $1.09 billion, all year-on-year basis.
In 2015, it is expected that currency income from exports will drop by 21.5 percent to $2.552 billion for iron ore, will fall by 18.6 percent to $605 million for pig iron, will decline by 10.9 percent to $9.77 billion for rolled steel, and will move down by 20.5 percent to $867 million for steel pipes, all compared to 2014.