Ukraine's Wire & Cable Industry Booms in 2024: Exports Surge, Production Hits Record Highs
Ukraine's wire and cable industry experienced a significant boost in 2024, with exports and production reaching notable heights. The country's overseas purchases of insulated wire and cable surged by an impressive X% to X tons, marking a strong recovery in the sector.
Looking back, production hit record highs in 2021, reaching an astonishing $X. However, from 2022 to 2024, production remained at a lower figure, indicating a period of stabilisation rather than consistent growth.
Over the last twelve years, production increased at an average annual rate of X%. This steady growth is a testament to the industry's resilience and potential.
Germany emerged as the primary destination for Ukrainian wire and cable exports, accounting for X% of total exports. In 2024 alone, exports to Germany surged to $X, reflecting the strong trade ties between the two countries.
The year 2024 saw a significant expansion in wire and cable production, reaching $X. This growth was accompanied by a rise in overseas shipments of insulated wire and cable, which finally reached X tons, indicating a positive trend in the industry's international competitiveness.
The market attained its maximum level in 2023, with a value of $X. However, it experienced a slight decline in the following year, suggesting a correction after a period of rapid growth.
Despite a decrease of X% to $X in 2024, the Ukrainian wire and cable market demonstrated remarkable resilience and growth potential. With production and exports on the rise, the industry is well-positioned to continue its recovery and contribute to the country's economic growth.
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