Key Economic Performances of Ukraine

One of the main economic performances of the country is the size of its gross domestic product. According to this indicator, Ukraine is on 63th position; its gross domestic product amounted to 90.5 billion dollars last year.

By sectors, gross domestic product distributed as follows – agriculture 13.3%, industry 24.4%, and services 62.7%.

Heavy industry (mining and smelting), machinery and metal working, oil-, gas- and electric power industry, chemicals and pharmaceuticals, wood work and paper industry, textile industry, agriculture, food processing, freight and passenger transport and tourism are the key industries of Ukraine’s economy which play a crucial role in determining of economic indicators of the country.

In reference to foreign trade performances, recovery balance of export and import should be noted. Thus, the export performance of products and services from Ukraine and import to Ukraine, for the last year, distributed in the following proportion:

1. Exports (38.1 billion dollars)

Exports: ferrous and nonferrous metals, fuel and petroleum products, chemicals, machinery and transport equipment, food products.

The European Union 34%, Russia 12.7%, Turkey 7.3%, China 6.3% and Egypt 5.5% are key export partners which succeeded in traditionally active trade relationship with Ukraine.

2. Import (37.5 billion dollars)

In import column, energy (primarily natural gas), machinery and equipment, chemicals are goods imported to Ukraine.

Import partners: Russia 19.9%, Germany 10.4%, China 10.1%, Belarus 6.7%, Poland 6.2%.

Due to financial backing from the International Monetary Fund, Ukraine has formed stable metallic reserve storing, the amount of which currently is about 15 billion dollars. This amount increases gradually.

Regarding employment, it should be noted that the number of gainfully employed population in Ukraine is about 18 million people.

The employment level among labor pool comes up to 56.9%. The highest employment level among regions is Kyiv 62.3%, the lowest – Donetsk 49.7%. Foremost, it occurs due to administrative functions, performed by these regions.

The unemployment level is 9.9% (among city dwellers unemployment level was 9.3%, among rural – 11.3%, men – 11.9%, women – 7.7%).

State finance:

Revenues – 595.1 billion UAH.

Expenses – 667.7 billion UAH.

Nowadays, Ukraine cooperates with many international financial institutions, including the IMF, World Bank, International Bank for Reconstruction and Development, International Development Association, the International Finance Corporation, the Multilateral Investment Guarantee Agency, International Centre for Settlement of Investment Disputes.