Key Market Indicators
**Ukrainian Nickel Imports to Drop by Nearly 30% by 2028** Ukraine's nickel imports are projected to decline significantly over the next five years. By 2028, imports are expected to fall to approximately $48 million, down from around $69 million in 2023. This marks an average annual decrease of 5.6%. Since 2001, the demand for nickel in Ukraine has been on a downward trend, with an average yearly decline of 6.1%. **Nickel Exports Also Set for Sharp Decline** Similarly, Ukrainian nickel exports are forecasted to experience a steep drop. By 2028, exports are estimated to reach close to $3 million, down from about $5 million in 2023. This decline represents a compound annual growth rate (CAGR) of 7.6%. The supply of nickel from Ukraine has been decreasing since 2001, with an annual average decline of 8.2%. In 2023, Ukraine ranked 39th in global nickel exports. Portugal led the rankings with exports worth approximately $5 million, followed by Canada, Russia, and Malaysia in the second, third, and fourth positions, respectively.
