The border blockade has slowed down the production process.
The National Bank of Ukraine ( NBU) calculated the financial losses of importers due to the blockade of the western borders by Polish farmers. According to NBU estimates, the damage in February reached 350-400 million dollars.
This is stated in the macroeconomic and monetary review of the National Bank.
It is noted that in the last month of winter the level of imports of goods did not increase due to the border blockade. At the same time, purchases of food products (fish, fruits/nuts) and industrial products (clothing, shoes) and wood decreased significantly. Petroleum products and certain chemical products (fertilizers and pharmaceuticals) were imported more actively.
“This may indicate both a lower intensity of border blocking for road transport of military goods, and a reorientation of these purchases to other trade and transport routes,” the review notes.
According to data from the National Bank, in February, physical volumes of grain exports reached the highest level since the beginning of the full-scale invasion, but remained lower when compared with January 2022.
At the same time, exports of mining and metallurgical complex products decreased. The National Bank attributes this to the fact that supplies were reoriented to Asian countries, but the crisis in the Red Sea, as well as disinterest in supplies from China, slowed down the export process of these products.
It became known earlier that due to Polish farmers who continue to block all checkpoints along the border, Ukraine lost 7.7 billion hryvnia as of February 2024.
▶ On the TSN YouTube channel you can watch the video at this link: Ukraine is losing billions , while restless Polish farmers paralyze Warsaw and the border!