History of Ukrainian Economy
First of all, Ukraine has an emerging low-middle income, mixed economy, which has a really long way to go. Ukrainian economy had e really hard start, as it was really neglected by Russia in times of Soviet Union. Even though Ukraine played a huge role in economy of the whole Union, Russia put a massive pressure on Ukraine in all means. So, when Ukraine became independent, it was really hard to stabilize their economy. In addition, it was 1990s, so it basically was impossible. In 2000s, Ukraine somehow managed to create a stable economy, but it didn’t last long, unfortunately. In 2013-2014, when the events of Majdan took place and president Viktor Janukovych fled to Russia, Ukraine again was in the state of crisis. On top of this, Russian troops invaded Eastern Ukraine and annexed Crimea. Despite all of that, Ukraine still managed to get its economy under control, but then 24th February 2022 happened. Russia started a straightforward invasion and again Ukraine was in chaos. As for now, Ukraine returned to the previous state, excluding the fact of war against Russia. But, as I said in the beginning, Ukraine still has a long way to go and much to improve.
Statistics on Economy of Ukraine
Here I have some numbers, according Ukrainian modern economy. So, the nominal GDP this year in Ukraine is $173 billion and the PPP GDP is $475 billion. These numbers make Ukraine 60th in the ranking of nominal GDP and 46th in PPP accordingly. The GDP also grew by 2% this year. Now, the nominal GDP per capita is $5200 and $14,300 in PPP, ranking Ukraine 114th and 107th. Inflation this year is enormous and is 17.7%. If we talk about Ukraine’s export and import partners they’re practically the same, and include such countries, as China, USA, Poland, Germany, Turkey and other western and southern countries. Now, I would like to show you some tables connected to statistics of economy of Ukraine.
The GDP of Ukraine
Ukraine’s GDP per capita
Ukraine’s population from 1950
The average monthly salary in Ukraine in November 2021
Personal Opinion
Ukraine has lots of problems, and one of the most important one, except for war, is corruption. Ukraine must win the war and fight the corruption in order to make some visible progress in advancing of its economy. But the key component in this process is the desire of Ukrainians to become better and to improve their country in general. Only then Ukraine will truly thrive in all means possible.
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