How much Ukraine spent on energy resources imports in the third year of full-scale war

According to Energy Map, in 2024, Ukraine imported $8.9 billion worth of fuel and energy products, which is $1.47 billion or 14.2% less than in 2023. Export revenues almost halved from $0.39 billion to $0.2 billion. The cost of imported energy resources exceeded export revenues by 44 times.

In 2024, energy resources imports mainly consisted of oil and petroleum products, which accounted for 76.6% of the total value in monetary terms. Smaller shares were taken by electricity and petroleum gases (7.5% each) and coal (4.5%). Other energy resources, including coke, bitumen, peat, tars, oils, and other petroleum products, made up 3.9% of total import expenditures.

For comparison, in 2023, oil and oil products accounted for 75.6% of imports, while the shares of electricity and coal were much smaller – 1.5% and 1.8%, respectively. Instead, petroleum gases accounted for 18.3% of expenditures. In pre-war 2021, the structure of imports was completely different: the share of oil and petroleum products was 37.6% (half as much as in 2024), petroleum gases – 33.4% (four times more), coal – 16.7% (almost four times more), and electricity – only 0.6% (13 times less).

Oil and petroleum products (excluding crude) in 2024 Ukraine imported 7.56 million tons with a total value of $6.82 billion, which is $1.01 billion or 12.9% less than in 2023. The main suppliers were Greece (19.3%), Poland (13.1%), Lithuania (10.0%), and Turkey (8.8%). India’s share declined sharply from 13.0% in 2023 to just 1.4% in 2024.

Petroleum gases were imported in the amount of 0.98 million tons, costing Ukraine $0.67 billion – almost three times less than the $1.9 billion spent in 2023. The main suppliers in 2024 were Poland (17.4%), Algeria (15.1%), and Lithuania (13.2%). Another 35 countries contributed shares not exceeding 8.5% each. In 2023, Slovakia, Poland, and Switzerland accounted for 53.1% of petroleum gas imports.

The largest increase compared to 2023 was recorded in electricity imports. While in 2023 Ukraine imported 806.4 GWh worth $154.7 million, in 2024, expenditures increased more than fourfold – to $669.4 million for 4,436.6 GWh. The peak of imports occurred in June-July 2024, when Ukraine’s energy system faced a significant deficit due to Russian attacks on energy infrastructure, rising consumption amid summer heat, and scheduled maintenance of power units.

In 2024, Ukraine imported electricity from all its European neighbors, with the largest volumes coming from Hungary (38.4% or 1,705 GWh), Slovakia (23.4% or 1,036.5 GWh), and Romania (18.5% or 819.6 GWh). Poland and Moldova supplied 14.3% and 5.4%, respectively, or 875.5 GWh.

Expenditures on hard coal imports more than doubled compared to 2023. In 2024, Ukraine spent $402.1 million on importing 1.8 million tons of coal, whereas in 2023, these expenditures were only $185.4 million for 0.67 million tons. Meanwhile, in 2021, coal import costs were significantly higher at $2.5 billion, with import volumes reaching 19.6 million tons.

In 2024, coal was imported from 15 countries, with the largest suppliers being the USA (24.6%), Australia (24.3%), the Czech Republic (17.3%), and Poland (14.5%). Compared to 2023, the Czech Republic’s share increased significantly from just 0.7%.

Throughout 2024, Ukraine exported 12 types of fuel and energy products to 103 countries, totaling $201.3 million in revenues.

Electricity exports accounted for the largest share – $81.0 million or 40.3% of total export revenue. Revenue from coal exports reached $36.4 million (18.1%), while oil and petroleum products brought in $29.1 million (14.4%). Other fuel and energy products, such as petroleum gases, peat, tars, coke, pitch, and bituminous mixtures, totalled $54.8 million, or 27.2% of all revenues.

Electricity was exported in the amount of 348.5 GWh during the year. This is the third year in a row that Ukraine has reduced electricity export revenue due to the full-scale war and Russia’s destruction of energy infrastructure, and the second year with a negative trade balance in electricity. Exports were carried out to all available directions, with the largest volumes going to Poland (88.4 GWh or 25.4%), followed by Hungary (76.6 GWh or 22%), Romania (71.2 GWh or 20.4%), Moldova (56.8 GWh or 16.3%), and Slovakia (55.5 GWh or 15.9%).

In 2024, Ukraine exported 0.4 million tons of coal worth $36.37 million, accounting for 18.1% of total energy resources export revenue. Of the revenue from coal sales, 40.6% came from Sweden, 28.7% from India, 15.1% from Italy, and 12.2% from Slovakia. In 2023, Ukraine exported 0.67 million tons of coal worth $172.7 million, with the main buyers being India (32.2%), Slovakia (28.9%), Hungary (14.8%), and Italy (12.2%).

Exports of tar from coal, lignite or peat brought Ukraine $34 million or 16.9% of total energy resources export revenue. Of this, 93.9% came from Belgium, the Czech Republic, Slovakia, and Spain. Compared to 2023, revenue from tar exports decreased by 38.1%.

Oil and petroleum products (except crude) accounted for 14.5% of the exports of fuel and energy products in 2024. This brought Ukraine $29.09 million, which is $10.77 million less than in 2023. In 2024, exports were made to 98 countries, with the largest shares going to Turkey (7.9%), Libya (6.8%), Ghana and the USA (6.7% each), and Vietnam (5.3%).

As a result, revenues from fuel and energy products exports in 2024 decreased by 48.6% compared to 2023, while import expenditures declined by only 14.2%. Compared to 2021, the drop in export revenues was even more significant – 74.3%, while import expenditures fell by 40.4%. Overall, Ukraine remains an energy-deficient country, with the bulk of its energy spending (over three-quarters) allocated to importing resources from the “Oil and petroleum products” category.

*The calculations include all goods classified under group 27 of the Ukrainian Classification of Goods for Foreign Economic Activity, including coal (groups 2701, 2702), oil and petroleum products (2709, 2710), gases (2711), electricity (2716), peat (2703), coke (2704), tars and oils (2706, 2707), pitch (2708), and other petroleum refining products (groups 2712–2715). Coal gas, water gas, and generator gas (group 2705) were not imported or exported in 2019-2024.