| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Ukraine Economy 2011
https://theodora.com/wfb2011/ukraine/ukraine_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese



Page last updated on January 13, 2011

Economy - overview:
After Russia, the Ukrainian republic was far and away the most important economic component of the former Soviet Union, producing about four times the output of the next-ranking republic. Its fertile black soil generated more than one-fourth of Soviet agricultural output, and its farms provided substantial quantities of meat, milk, grain, and vegetables to other republics. Likewise, its diversified heavy industry supplied the unique equipment (for example, large diameter pipes) and raw materials to industrial and mining sites (vertical drilling apparatus) in other regions of the former USSR. Shortly after independence in August 1991, the Ukrainian Government liberalized most prices and erected a legal framework for privatization, but widespread resistance to reform within the government and the legislature soon stalled reform efforts and led to some backtracking. Output by 1999 had fallen to less than 40% of the 1991 level. Ukraine's dependence on Russia for energy supplies and the lack of significant structural reform have made the Ukrainian economy vulnerable to external shocks. Ukraine depends on imports to meet about three-fourths of its annual oil and natural gas requirements and 100% of its nuclear fuel needs. After a two-week dispute that saw gas supplies cutoff to Europe, Ukraine agreed to ten-year gas supply and transit contracts with Russia in January 2009 that brought gas prices to "world" levels. The strict terms of the contracts have further hobbled Ukraine's cash-strapped state gas company, Naftohaz. Outside institutions - particularly the IMF - have encouraged Ukraine to quicken the pace and scope of reforms. Ukrainian Government officials eliminated most tax and customs privileges in a March 2005 budget law, bringing more economic activity out of Ukraine's large shadow economy, but more improvements are needed, including fighting corruption, developing capital markets, and improving the legislative framework. Ukraine's economy was buoyant despite political turmoil between the prime minister and president until mid-2008. Real GDP growth exceeded 7% in 2006-07, fueled by high global prices for steel - Ukraine's top export - and by strong domestic consumption, spurred by rising pensions and wages. Ukraine reached an agreement with the IMF for a $16.4 billion Stand-By Arrangement in November 2008 to deal with the economic crisis, but the Ukrainian Government's lack of progress in implementing reforms has twice delayed the release of IMF assistance funds. The drop in steel prices and Ukraine's exposure to the global financial crisis due to aggressive foreign borrowing lowered growth in 2008 and the economy contracted more than 15% in 2009, among the worst economic performances in the world; growth resumed in 2010, buoyed by exports. External conditions are likely to hamper efforts for economic recovery in 2011.

GDP (purchasing power parity):
$306.3 billion (2010 est.)
country comparison to the world: 40

$293.7 billion (2009 est.)
$345.9 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$136.6 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.3% (2010 est.)
country comparison to the world: 70

-15.1% (2009 est.)
2.1% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,700 (2010 est.)
country comparison to the world: 134

$6,400 (2009 est.)
$7,500 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 9.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 32.3%
[see also: GDP - composition by sector - industry country ranks ]
services: 57.9% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
22.06 million (2009 est.)
country comparison to the world: 28
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 15.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 65.7% (2008)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8.4% (2010 est.)
country comparison to the world: 98

8.8% (2009 est.)
note: officially registered; large number of unregistered or underemployed workers
[see also: Unemployment rate country ranks ]

Population below poverty line:
35% (2009)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 25.7% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
31 (2006)
country comparison to the world: 105

29 (1999)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
16.1% of GDP (2009 est.)
country comparison to the world: 123
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $41.18 billion
[see also: Budget - revenues country ranks ]
expenditures: $49.79 billion
[see also: Budget - expenditures country ranks ]
note: this is the planned, consolidated budget (2009 est.)

Public debt:
38.4% of GDP (2010 est.)
country comparison to the world: 78

30% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
9.8% (2010 est.)
country comparison to the world: 198

15.9% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
10.25% (31 December 2009)
country comparison to the world: 32

12% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
20.86% (31 December 2009 est.)
country comparison to the world: 30

17.49% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$34.97 billion (31 December 2010 est)

$30 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$73.91 billion (31 December 2010 est.)

$62.22 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$110.8 billion (31 December 2010 est.)
country comparison to the world: 48

$103.9 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$16.79 billion (31 December 2009)
country comparison to the world: 57

$24.36 billion (31 December 2008)
$111.8 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
grain, sugar beets, sunflower seeds, vegetables; beef, milk

Industries:
coal, electric power, ferrous and nonferrous metals, machinery and transport equipment, chemicals, food processing

Industrial production growth rate:
8% (2009 est.)
country comparison to the world: 29
[see also: Industrial production growth rate country ranks ]

Electricity - production:
172.9 billion kWh (2009 est.)
country comparison to the world: 22
[see also: Electricity - production country ranks ]

Electricity - consumption:
134.6 billion kWh (2009 est.)
country comparison to the world: 22
[see also: Electricity - consumption country ranks ]

Electricity - exports:
4 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
99,930 bbl/day (2009 est.)
country comparison to the world: 52
[see also: Oil - production country ranks ]

Oil - consumption:
348,000 bbl/day (2009 est.)
country comparison to the world: 37
[see also: Oil - consumption country ranks ]

Oil - exports:
154,400 bbl/day (2009 est.)
country comparison to the world: 57
[see also: Oil - exports country ranks ]

Oil - imports:
147,600 bbl/day (2009 est.)
country comparison to the world: 55
[see also: Oil - imports country ranks ]

Oil - proved reserves:
395 million bbl (1 January 2010 est.)
country comparison to the world: 53
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
21.2 billion cu m (2009 est.)
country comparison to the world: 31
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
52 billion cu m (2009 est.)
country comparison to the world: 15
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
5 billion cu m (2009 est.)
country comparison to the world: 27
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
26.83 billion cu m (2009 est.)
country comparison to the world: 11
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
1.104 trillion cu m (1 January 2010 est.)
country comparison to the world: 25
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$603 million (2010 est.)
country comparison to the world: 49

-$1.732 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$49.71 billion (2010 est.)
country comparison to the world: 53

$40.39 billion (2009 est.)
[see also: Exports country ranks ]

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

Exports - partners:
Russia 21.1%, Turkey 5.3%, China 3.8% (2009)

Imports:
$53.54 billion (2010 est.)
country comparison to the world: 47

$45.05 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
energy, machinery and equipment, chemicals

Imports - partners:
Russia 28%, Germany 8.6%, China 6.1%, Kazakhstan 4.9%, Poland 4.9% (2009)

Reserves of foreign exchange and gold:
$32.91 billion (31 December 2010 est.)
country comparison to the world: 33

$26.51 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$97.5 billion (31 December 2010 est.)
country comparison to the world: 35

$94.3 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$52.31 billion (31 December 2010 est.)
country comparison to the world: 52

$46.81 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$2.327 billion (31 December 2010 est.)
country comparison to the world: 65

$2.067 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
hryvnia (UAH) per US dollar - 7.9111 (2010), 7.7912 (2009), 4.9523 (2008), 5.05 (2007), 5.05 (2006)


NOTE: The information regarding Ukraine on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Ukraine Economy 2011 information contained here. All suggestions for corrections of any errors about Ukraine Economy 2011 should be addressed to the CIA.



- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

https://theodora.com/wfb2011/ukraine/ukraine_economy.html


This page was last modified 09-Feb-11
Copyright © 1995-2011 ITA all rights reserved.