Latest news with #CEIC
Mint
09-05-2025
- Business
- Mint
India-Pakistan conflict: Islamabad says 'loan SOS hacked', but its financial crisis is REAL; here's how
Pakistan has denied as "fake" a request made by its Ministry of Economic Affairs to global partners for more loans, citing economic losses and a stock market crash. The appeal, posted from a now-deleted and allegedly hacked X account, also called for international help to de-escalate tensions with India. Despite this denial, Pakistan faces a real financial crisis, with over $100 billion in external debt, low foreign reserves, and reliance on IMF support. According to Pakistan's central bank, the country's foreign reserves declined by more than $150 million in the first week of March this year. 2. Its interest payments are now taking up nearly two-thirds of public revenue, leaving limited funds available for essential government services. The living standard has become better, but far more gradually than in the rest of South Asia. 3. Pakistan experienced an economic crisis as part of the 2022 political unrest. It caused extreme economic challenges for months, causing food, gas and oil prices to soar. 4. Over the past 25 years, Pakistan has approximately doubled its national debt every five years, according to Indian strategic affairs specialist Sushant Sareen. Beginning with around ₹ 3.06 trillion (US$11 billion) at the start of General Pervez Musharraf's regime in 1999, the debt had surged to ₹ 62.5 trillion (US$220 billion) by the end of Imran Khan's government in 2022. 5. According to CEIC data, Pakistan is currently experiencing a severe cash crunch, with its external debt reaching $131.1 billion as of December 2024. As reported by PTI last year, Pakistani authorities were grappling with the immense challenge of repaying a staggering $100 billion in external debt over the next four years, as of September. 6. "Pakistan's external debt repayments for four years are $100 billion," Minister of State for Finance Ali Pervaiz Malik had stated at a meeting of the National Assembly Standing Committee in September 2024. 7. In September last year, the IMF approved a $7 billion loan package for Pakistan, which was facing severe economic challenges. According to an AP report, the loan was structured to be disbursed in 37 instalments. This agreement followed months of negotiations led by Prime Minister Shehbaz Sharif, who had been in talks with the IMF since June. 8. According to a report by the Economic Times, Pakistan's foreign exchange reserves stand at $15 billion, a stark contrast to India's reserves at $688 billion. 9. After the April 22 Pahalgam terror attack, the gap between Pakistan's and US debt interest rates soared by about 200 basis points, now topping 850. This means it has become much more expensive for Pakistan to borrow money, Reuters reported. 10. One of the initial actions taken by the Donald Trump administration in the US was to suspend foreign aid provided through the State Department and the US Agency for International Development (USAID). This dealt a significant blow to Pakistan, which had been receiving support under the programme and was already grappling with an unstable economy.
The Sun
05-05-2025
- Business
- The Sun
Lazy statistics, loud opinions
WHEN Bill O'Reilly doubled down on his mockery of Malaysia – scoffing that Malaysians 'can't even buy a little hat' and citing a household income figure of US$5,731 (RM24,400) versus US$42,220 in the US – he was not just being flippant. He was showcasing the danger of lazy statistics. By cherry-picking figures without context, he painted a distorted picture of economic despair – and in doing so, revealed a worldview still steeped in colonialist condescension. Like many such soundbites, the truth lies in what he left out. A single number doesn't define prosperity The US$42,220 figure cited by O'Reilly comes from the US Census Bureau's annual household survey, the Current Population Survey (CPS). It refers to the median personal income of individuals aged 15 and above in 2023, adjusted for inflation (in what is called '2023 CPI-U-RS dollars'). The figure is widely referenced and republished by the Federal Reserve Bank of St Louis under the series code MEPAINUSA672N. For Malaysia, the figure seems to have been quoted from the CEIC's 'Annual Household Income per Capita' dataset, which draws on official data from the Department of Statistics Malaysia (DOSM). The calculation starts with the mean monthly household income in 2022, recorded at RM8,479 (DOSM), which is then annualised, multiplied by the estimated number of households (about 8.662 million in 2022), divided by Malaysia's mid-year population, and finally converted into US dollars using the average 2022 exchange rate. Thus, O'Reilly's framing ignores several key contextual differences: Different units: He compares income earned by actual individuals in the US to household income per capita in Malaysia, which includes non-earners such as children and elderly dependents. This pulls the Malaysian figure down and inflates the gap. No purchasing power adjustment: A US dollar buys far more in Malaysia than it does in the US. Nominal comparisons ignore this, understating the true standard of living in Malaysia. Different timeframe and inflation adjustments: The US number is from 2023, inflation-adjusted to constant dollars. The Malaysian number is from 2022, in current prices. So, O'Reilly is comparing different years and price bases, which further muddies the waters. Even when we use CEIC's harmonised household income data series – applied equally to both Malaysia and the US – but adjust for purchasing power parity using the World Bank's official 2022 factor, Malaysia's household income per capita rises to US$16,857. On that basis, the US-Malaysia income gap is only 2.3 times, not seven. Similarly, GDP per capita (PPP) shows Malaysia at US$34,366 compared to the US at US$78,035 – a 2.3 times gap as well. Therefore, O'Reilly's claim did not just miss context – it overstated the disparity by a factor of three. These comparisons still ignore differences in cost of living and access to services. Declaring a nation poor without accounting for those factors is, at best, lazy arithmetic. No wonder Malaysians cheekily reminded O'Reilly, 'we have free healthcare, grandpa'. In the US, the top 20% controls over 50% of disposable income. Furthermore, Harvard data suggests 85% of American families now require some form of financial aid. High healthcare, housing and student loan costs heavily erode American incomes in ways Malaysians are largely protected from – thanks to public healthcare, fuel subsidies and affordable food. A nasi lemak in Kuala Lumpur still costs less than a coffee in New York. A region that matters O'Reilly's deeper implication – that Southeast Asia is irrelevant to the global economy – is just as inaccurate, as Emir Research previously elaborated in 'How Malaysia Keeps its Compass Steady amid Tariff Shocks – and Builds for What's Next'. Malaysia and its Asean neighbours are emerging economic powerhouses in their own right. The image of Southeast Asia as having 'no money' also ignores the region's massive market potential. With over 680 million people, rising middle classes and growth rates outpacing the West, Asean is a prize in global commerce. This is why trillions in South–South capital (from China, the Middle East and elsewhere) are actively seeking opportunities in these emerging powerhouses. Thus, when Chinese President Xi Jinping visited Malaysia in April, over 30 bilateral cooperation agreements were signed. These were not handouts. They were joint ventures – in AI, green tech and smart infrastructure. Signs not of desperation, but of ambition to climb the value chain. That strategic openness to both East and West has become far more pronounced under the Anwar Ibrahim administration. Similarly, Western tech giants like Google and Microsoft have recently invested significantly in Malaysia's digital economy. Malaysia's economic approach today is pragmatic: be a 'bridge, not battleground' between great powers while investing in connectivity, upskilling talent and maintaining macroeconomic stability. Colonial lens still lingers Perhaps most revealing was O'Reilly's flippant 'Ha-ha, I'm a colonialist' remark. That line, paired with his mockery of 'small' countries, betrays a mindset that still colours parts of Western commentary. This view assumes Western dominance as a given and frames non-Western nations as inherently lesser. In the view of the O'Reillies of the world, if a country does not match American standards of wealth, it is fair game for ridicule. Prime Minister Datuk Seri Anwar Ibrahim rightly called such comments 'arrogant and ignorant', shaped by imperial assumptions that no longer hold. Malaysia is not a dependent economy. It is an upper-middle-income nation with a diversified export base, strong industrial capability and rising agency. In 2023, it exported approximately US$74 billion in integrated circuits – 23% of total exports – ranking among the world's top semiconductor exporters. It also contributes 13% of the global market for backend semiconductor services like testing and packaging. These are not signs of weakness but reflect systemic relevance and significant potential. The challenge now is to translate that structural position into broader socioeconomic gains – a goal central to the current administration's reform agenda. Unlike the West, which entrenches dominance through IMF conditions, petrodollar hegemony and the privilege of printing the world's reserve currency, Malaysia – like many real-economy nations – has had to build its sovereignty from the ground up. That has not come easy. Global history shows that leaders who defend sovereignty in word and deed are often undermined – not just rhetorically but through sustained economic and political pressure. The nexus between supranational and entrenched local colonialists runs deep. Malaysia is no exception. The current administration inherited a system long dominated by entrenched interests – what can rightfully be called internal colonialists, sustained in part by external colonialists who, in many ways, never truly left. Decades of divisive politics and absolute policy inertia have left deep structural challenges. Anwar's reform agenda marks a break from that legacy but the path forward remains an uphill climb. Still, Malaysia continues to push forward. It settles more trade in local currencies, strengthens South–South ties and plays an active role in shaping regional policy through platforms like Asean, RCEP (Regional Comprehensive Economic Partnership) and CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership). Its strategy – resilience without retaliation – offers a potential model for others. So, when O'Reilly mocks Malaysia's outreach to China, he misses the point. Kuala Lumpur is not choosing sides, it is choosing independence. It welcomes both East and West on terms that serve mutual national interest. Next time someone chuckles about who 'has money', remember: context matters. Malaysia's story – of grit, growth and strategic savvy – is far more compelling than a drive-by income comparison. Dismissing a country based on a single, unadjusted figure is not just a bad analysis; it is a relic of a fading worldview. In a world of shifting power, it is not the loudest voices that lead but those with the clearest compass. Dr Rais Hussin is the founder of Emir Research, a think-tank focused on strategic policy recommendations based on rigorous research. Comments: letters@
Malay Mail
02-05-2025
- Business
- Malay Mail
Beyond the hat: What O'Reilly got wrong about Malaysia — Rais Hussin
MAY 2 — When Bill O'Reilly doubled down on his mockery of Malaysia – scoffing that Malaysians 'can't even buy a little hat' and citing a household income figure of US$5,731 versus US$42,220 in the US – he wasn't just being flippant. He was showcasing the danger of lazy statistics. By cherry-picking figures without context, he painted a distorted picture of economic despair — and in doing so, revealed a worldview still steeped in colonialist condescension. Like many such soundbites, the truth lies in what he left out. A single number doesn't define prosperity The US$42,220 figure cited by O'Reilly comes from the USCensus Bureau's annual household survey, the Current Population Survey (CPS). It refers to the median personal income of individuals aged 15 and above in 2023, adjusted for inflation (in what's called '2023 CPI-U-RS dollars'). The figure is widely referenced and republished by the Federal Reserve Bank of St. Louis (FRED) under the series code MEPAINUSA672N. For Malaysia, the figure seems to have quoted from CEIC's 'Annual Household Income per Capita' dataset, which draws on official data from the Department of Statistics Malaysia (DOSM). The calculation starts with the mean monthly household income in 2022, recorded at RM8,479 (DOSM), which is then annualised, multiplied by the estimated number of households (about 8.662 million in 2022), divided by Malaysia's mid-year population, and finally converted into US dollars using the average 2022 exchange rate. American political commentator Bill O'Reilly has doubled down on his controversial remark that South-east Asia ' has no money', responding to Prime Minister Datuk Seri Anwar Ibrahim's criticism by claiming that Malaysians 'can't afford to buy a small hat without starving'. — Screengrab of YouTube video Thus, O'Reilly's framing ignores several key contextual differences: Different units: He compares income earned by actual individuals in the US to household income per capita in Malaysia, which includes non-earners such as children and elderly dependents. This pulls the Malaysian figure down and inflates the gap. He compares income earned by actual individuals in the US to household income per capita in Malaysia, which includes non-earners such as children and elderly dependents. This pulls the Malaysian figure down and inflates the gap. No purchasing power adjustment: A US dollar buys far more in Malaysia than it does in the USNominal comparisons ignore this, understating the true standard of living in Malaysia. A US dollar buys far more in Malaysia than it does in the USNominal comparisons ignore this, understating the true standard of living in Malaysia. Different timeframe and inflation adjustments: The US number is from 2023, inflation-adjusted to constant dollars. The Malaysian number is from 2022, in current prices. So, O'Reilly is comparing different years and price bases, which further muddies the waters. Even when we use CEIC's own harmonised household income data series — applied equally to both Malaysia and the United States — but adjust for PPP using the World Bank's official 2022 factor, Malaysia's household income per capita rises to US$16,857. On that basis, the US–Malaysia income gap is only 2.3 times, not 7 (see Figure 1). Similarly, GDP per capita (PPP) shows Malaysia at US$34,366 compared to the USat US$78,035 — a 2.3 times gap as well. Therefore, O'Reilly's claim didn't just miss context — it overstated the disparity by a factor of three. These comparisons still ignore differences in cost of living and access to services. Declaring a nation poor without accounting for those factors is, at best, lazy arithmetic. No wonder Malaysians cheekily reminded O'Reilly, 'we have free healthcare, grandpa.' In the US, the top 20 per cent controls over 50per cent of disposable income. Furthermoresuggests 85per cent of American families now require some form of financial aid. High healthcare, housing and student loan costs heavily erode American incomes in ways Malaysians are largely protected from — thanks to public healthcare, fuel subsidies and affordable food. A nasi lemak in KL still costs less than a coffee in New York. A region that matters O'Reilly's deeper implication — that Southeast Asia is irrelevant to the global economy — is just as inaccurate, as EMIR Research previously elaborated in 'How Malaysia Keeps Its Compass Steady Amid Tariff Shocks — And Builds for What's Next'. Malaysia and its ASEAN neighbors are emerging economic powerhouses in their own right. The image of Southeast Asia as having 'no money' also ignores the region's massive market potential. With over 680 million people, rising middle classes, and growth rates outpacing the West, ASEAN is a prize in global commerce. This is why trillions in South–South capital (from China, the Middle East, etc.) are actively seeking opportunities in these emerging powerhouses. Thus, when Chinese President Xi Jinping visited Malaysia in April 2024, over 30 bilateral cooperation agreements were signed. These weren't handouts. They were joint ventures — in AI, green tech, and smart infrastructure. Signs not of desperation, but of ambition to climb the value chain. That strategic openness to both East and West has become far more pronounced under the Anwar Ibrahim administration. Similarly, Western tech giants like Google and Microsoft have recently invested significantly in Malaysia's digital economy. Malaysia's economic approach today is pragmatic: be a 'bridge, not battleground' between great powers while investing in connectivity, upskilling talent and maintaining macroeconomic stability. The Colonial Lens Still Lingers Perhaps most revealing was O'Reilly's flippant 'Ha-ha, I'm a colonialist' remark. That line, paired with his mockery of 'small' countries, betrays a mindset that still colours parts of Western commentary. This view assumes Western dominance as a given and frames non-Western nations as inherently lesser. In the view of the O'Reillies of the world, if a country doesn't match American standards of wealth, it's fair game for ridicule. Prime Minister Anwar Ibrahim rightly called such comments 'arrogant and ignorant,' shaped by imperial assumptions that no longer hold. Malaysia is not a dependent economy. It is an upper-middle-income nation with a diversified export base, strong industrial capability, and rising agency. In 2023, it exported approximately US$74 billion in integrated circuits — 23per cent of total exports — ranking among the world's top semiconductor exporters. It also contributes 13per cent of the global market for backend semiconductor services like testing and packaging. These are not signs of weakness — they reflect systemic relevance and significant potential. The challenge now is to translate that structural position into broader socioeconomic gains — a goal central to the current administration's reform agenda. Unlike the West, which entrenches dominance through IMF conditions, petrodollar hegemony, and the privilege of printing the world's reserve currency, Malaysia — like many real-economy nations — has had to build its sovereignty from the ground up. And that hasn't come easy. Global history shows that leaders who defend sovereignty in both word and deed are often undermined — not just rhetorically, but through sustained economic and political pressure. The nexus between supranational and entrenched local colonialists runs deep. Malaysia is no exception. The current administration inherited a system long dominated by entrenched interests—what can rightfully be called internal colonialists, sustained in part by external colonialists who, in many ways, never truly left. Decades of divisive politics and absolute policy inertia have left deep structural challenges. Prime Minister Anwar Ibrahim's reform agenda marks a break from that legacy, but the path forward remains an uphill climb. Still, Malaysia continues to push forward. It settles more trade in local currencies, strengthens South–South ties, and plays an active role in shaping regional policy through platforms like ASEAN, RCEP and CPTPP. Its strategy—resilience without retaliation—offers a potential model for others. So, when O'Reilly mocks Malaysia's outreach to China, he misses the point. Kuala Lumpur isn't choosing sides, it's choosing independence. It welcomes both East and West on terms that serve mutual national interest. Next time someone chuckles about who 'has money,' remember: context matters. Malaysia's story—of grit, growth, and strategic savvy—is far more compelling than a drive-by income comparison. Dismissing a country based on a single, unadjusted figure isn't just bad analysis; it's a relic of a fading worldview. In a world of shifting power, it's not the loudest voices that lead, but those with the clearest compass. * Rais Hussin is the Founder of EMIR Research, a think tank focused on strategic policy recommendations based on rigorous research. ** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
BusinessToday
02-05-2025
- Business
- BusinessToday
Beyond The Hat: What O'Reilly Got Wrong About Malaysia
By Dr Rais Hussin When Bill O'Reilly doubled down on his mockery of Malaysia—scoffing that Malaysians 'can't even buy a little hat' and citing a household income figure of US$5,731 versus US$42,220 in the U.S.—he wasn't just being flippant. He was showcasing the danger of lazy statistics. By cherry-picking figures without context, he painted a distorted picture of economic despair—and in doing so, revealed a worldview still steeped in colonialist condescension. Like many such soundbites, the truth lies in what he left out. A Single Number Doesn't Define Prosperity The $42,220 figure cited by O'Reilly comes from the U.S. Census Bureau's annual household survey, the Current Population Survey (CPS). It refers to the median personal income of individuals aged 15 and above in 2023, adjusted for inflation (in what's called '2023 CPI-U-RS dollars'). The figure is widely referenced and republished by the Federal Reserve Bank of St. Louis (FRED) under the series code MEPAINUSA672N. For Malaysia, the figure seems to have quoted from CEIC's 'Annual Household Income per Capita' dataset, which draws on official data from the Department of Statistics Malaysia (DOSM). The calculation starts with the mean monthly household income in 2022, recorded at RM8,479 (DOSM), which is then annualized, multiplied by the estimated number of households (about 8.662 million in 2022), divided by Malaysia's mid-year population, and finally converted into U.S. dollars using the average 2022 exchange rate. Thus, O'Reilly's framing ignores several key contextual differences: Different units: He compares income earned by actual individuals in the U.S. to household income per capita in Malaysia, which includes non-earners such as children and elderly dependents. This pulls the Malaysian figure down and inflates the gap. He compares income earned by actual individuals in the U.S. to household income per capita in Malaysia, which includes non-earners such as children and elderly dependents. This pulls the Malaysian figure down and inflates the gap. No purchasing power adjustment : A U.S. dollar buys far more in Malaysia than it does in the U.S. Nominal comparisons ignore this, understating the true standard of living in Malaysia. : A U.S. dollar buys far more in Malaysia than it does in the U.S. Nominal comparisons ignore this, understating the true standard of living in Malaysia. Different Timeframe and Inflation Adjustments: The U.S. number is from 2023, inflation-adjusted to constant dollars. The Malaysian number is from 2022, in current prices. So, O'Reilly is comparing different years and price bases, which further muddies the waters. Even when we use CEIC's own harmonized household income data series—applied equally to both Malaysia and the United States—but adjust for PPP using the World Bank's official 2022 factor, Malaysia's household income per capita rises to US$16,857. On that basis, the U.S.–Malaysia income gap is only 2.3 times, not 7 (see Figure 1). Similarly, GDP per capita (PPP) shows Malaysia at US$34,366 compared to the U.S. at US$78,035 — a 2.3 times gap as well. Therefore, O'Reilly's claim didn't just miss context—it overstated the disparity by a factor of three. These comparisons still ignore differences in cost of living and access to services. Declaring a nation poor without accounting for those factors is, at best, lazy arithmetic. No wonder Malaysians cheekily reminded O'Reilly, 'we have free healthcare, grandpa.' In the U.S., the top 20% controls over 50% of disposable income. Furthermore, Harvard data suggests 85% of American families now require some form of financial aid. High healthcare, housing and student loan costs heavily erode American incomes in ways Malaysians are largely protected from — thanks to public healthcare, fuel subsidies and affordable food. A nasi lemak in KL still costs less than a coffee in New York. A Region that Matters O'Reilly's deeper implication — that Southeast Asia is irrelevant to the global economy — is just as inaccurate, as EMIR Research previously elaborated in ' How Malaysia Keeps Its Compass Steady Amid Tariff Shocks—And Builds for What's Next '. Malaysia and its ASEAN neighbors are emerging economic powerhouses in their own right. The image of Southeast Asia as having 'no money' also ignores the region's massive market potential. With over 680 million people, rising middle classes, and growth rates outpacing the West, ASEAN is a prize in global commerce. This is why trillions in South–South capital (from China, the Middle East, etc.) are actively seeking opportunities in these emerging powerhouses. Thus, when Chinese President Xi Jinping visited Malaysia in April 2024, over 30 bilateral cooperation agreements were signed. These weren't handouts. They were joint ventures—in AI, green tech, and smart infrastructure. Signs not of desperation, but of ambition to climb the value chain. That strategic openness to both East and West has become far more pronounced under the Anwar Ibrahim administration. Similarly, Western tech giants like Google and Microsoft have recently invested significantly in Malaysia's digital economy. Malaysia's economic approach today is pragmatic: be a 'bridge, not battleground' between great powers while investing in connectivity, upskilling talent and maintaining macroeconomic stability. The Colonial Lens Still Lingers Perhaps most revealing was O'Reilly's flippant 'Ha-ha, I'm a colonialist' remark. That line, paired with his mockery of 'small' countries, betrays a mindset that still colours parts of Western commentary. This view assumes Western dominance as a given and frames non-Western nations as inherently lesser. In the view of the O'Reillies of the world, if a country doesn't match American standards of wealth, it's fair game for ridicule. Prime Minister Anwar Ibrahim rightly called such comments 'arrogant and ignorant,' shaped by imperial assumptions that no longer hold. Malaysia is not a dependent economy. It is an upper-middle-income nation with a diversified export base, strong industrial capability, and rising agency. In 2023, it exported approximately US$74 billion in integrated circuits — 23% of total exports — ranking among the world's top semiconductor exporters. It also contributes 13% of the global market for backend semiconductor services like testing and packaging. These are not signs of weakness — they reflect systemic relevance and significant potential. The challenge now is to translate that structural position into broader socioeconomic gains — a goal central to the current administration's reform agenda. Unlike the West, which entrenches dominance through IMF conditions, petrodollar hegemony, and the privilege of printing the world's reserve currency, Malaysia — like many real-economy nations — has had to build its sovereignty from the ground up. And that hasn't come easy. Global history shows that leaders who defend sovereignty in both word and deed are often undermined — not just rhetorically, but through sustained economic and political pressure. The nexus between supranational and entrenched local colonialists runs deep. Malaysia is no exception. The current administration inherited a system long dominated by entrenched interests—what can rightfully be called internal colonialists, sustained in part by external colonialists who, in many ways, never truly left. Decades of divisive politics and absolute policy inertia have left deep structural challenges. Prime Minister Anwar Ibrahim's reform agenda marks a break from that legacy, but the path forward remains an uphill climb. Still, Malaysia continues to push forward. It settles more trade in local currencies, strengthens South–South ties, and plays an active role in shaping regional policy through platforms like ASEAN, RCEP and CPTPP. Its strategy—resilience without retaliation—offers a potential model for others. So, when O'Reilly mocks Malaysia's outreach to China, he misses the point. Kuala Lumpur isn't choosing sides, it's choosing independence. It welcomes both East and West on terms that serve mutual national interest. Next time someone chuckles about who 'has money,' remember: context matters. Malaysia's story—of grit, growth, and strategic savvy—is far more compelling than a drive-by income comparison. Dismissing a country based on a single, unadjusted figure isn't just bad analysis; it's a relic of a fading worldview. In a world of shifting power, it's not the loudest voices that lead, but those with the clearest compass. Related
Reuters
01-05-2025
- Business
- Reuters
Ukraine's metals production, development projects and resources
LONDON, May 1 (Reuters) - Ukraine and the U.S. on Wednesday signed a deal heavily promoted by U.S. President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine's reconstruction. Here is Ukraine's current metal production, existing production capacity, metals development projects and reserves or resources of deposits. Sources of information: Benchmark Mineral Intelligence (BMI), US Geological Survey (USGS), International Aluminium Institute, Ukraine's customs service, World Nuclear Association, CEIC, company data. EXPORTS In 2024, Ukraine exported goods worth $41.6 billion, of which metals/metals products accounted for $4.4 billion or 11% of the total, according to the customs service. In 2020, Ukraine's exports were worth $49.2 billion, including $7.7 billion of ferrous metals. ALUMINA As of 2021, the Mykolaiv (Nikolaev) Alumina Refinery was refining imported bauxite into 1.8 million metric tons of alumina a year and sending it to Rusal in Russia. The refinery suspended production after Russia invaded Ukraine in 2022. Mykolaiv's alumina production was equal to 1.3% of the world's total 138.6 million tons in 2021, according to the International Aluminium Institute. In 2024, global alumina production was 147 million tons. COAL Ukraine has coal mines, but they are mainly in eastern Ukraine, in Russia-occupied regions. Ukraine's coal production fell to 23.3 million tons in 2023 from 64.9 million tons in 2013, according to the CEIC data. GALLIUM Ukraine produced 1 ton of gallium in 2021, according to the USGS. By comparison, China produced 750 tons in 2024. GRAPHITE Ukraine produced 1,200 tons of graphite in 2024 or 0.08% of the world's total, according to the USGS. Currently, Zavalievsky Plant is the only operating graphite asset in Ukraine. It restarted production in October after a temporary halt due to a lack of investment, according to BMI. The Balahovskoe Graphite Deposit has yet to be developed. Its operator BGV Graphite invested $10 million in a pre-feasibility study and preliminary economic assessment in 2024. The study was completed in early 2025. IRON ORE Ukraine increased iron ore exports by 90% year on year to 33.7 million tons last year as a corridor for exports by sea opened in August 2023. As of 2020, Ukraine was producing 3.2% of the world's iron ore by content and 1.5% of pig iron, according to the USGS. LITHIUM There are two early-stage lithium projects, which would exploit hard-rock deposits, in Ukraine. Shevchenkivskyi is the biggest and is located in Donetsk, one of four Ukrainian regions that Moscow has claimed as its own territory. The second project is the Polokhivske and Dobra deposits located in central Ukraine. According to Ukraine's State Geological Service, Ukraine has lithium reserves of 500,000 metric tons, which would amount to 1.7% of the world's total. MANGANESE As of 2020, Ukraine was producing 3.1% of the world's manganese ore by content, according to the USGS. But production has declined since then. At least two manganese mining and processing plants in Ukraine have remained idle since November 2023 and another two resumed minimum production in the second quarter of 2024, it added. Production of silicomanganese fell by 45% to 104,150 tons and of ferromanganese by 66.5% to 3,600 tons in 2024, Interfax-Ukraine reported in February citing the Ukrainian Association of Ferroalloy Producers. RARE EARTHS ELEMENTS Ukraine does not currently have any commercially operating rare earth mines or any deposits under active development. China remains the dominant player in the rare earth market, holding a near-monopoly on global supply. According to Ukraine's Institute of Geology, the country possesses rare earths such as lanthanum, cerium, neodymium, erbium and yttrium. Detailed data about reserves is classified. Rare earths are abundant around the globe, but minable concentrations are less common than for most other mineral commodities, according to USGS. STEEL Ukraine's steel plants are located in the central, southern and Russia-occupied eastern regions of Ukraine. Ukraine produced 7.6 million tons of steel in 2024, 0.4% of the global output, down from 21.4 million tons in 2021, according to the World Steel Association. TITANIUM RAW MATERIALS Ukraine was the world's fifth-largest producer of titanium sponge with 2.2% share in global output and sixth-biggest producer of ilmenite with 5.8% share in 2020, according to the USGS data which excludes U.S. production. Since 2022, Ukraine has focused on production of a type of ilmenite concentrate which the chemical industry uses for pigment production. UMCC Titanium, which Ukraine re-privatized in late 2024, operates a mining and processing plant in the northwest. It restarted production in July. The company supplied 110,000 metric tons of ilmenite concentrate, partly from existing stocks, to the U.S. and Europe in January-September 2024, according to company data cited by Ukrainian media outlet URANIUM Ukraine has the world's 12th largest uranium resources of 107,200 tons, 2% of the global total, according to World Nuclear Association. Ukraine's production has been volatile in the past 10 years, according to the association, reaching 455 tons or 1% of the world's total in 2021.
