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May 22, 2024 · The swathes of Ukrainian land contaminated with mines and unexploded devices are "paralyzing the economy" and ultimately "preventing Ukraine from recovering from the war," Collins, a star of long ...
- Ellie Cook
- 1 min
In 2022, as a result of Russia’s full-scale invasion, Ukraine’s gross domestic product (GDP) fell by almost 30%. In 2023, economic growth exceeded expectations , with the National Bank of Ukraine (NBU) putting the latest estimate of the annual real GDP growth rate at 5.7% (at the beginning of 2023, the NBU’s forecast was 0.3%).
- Stuck on The Road to Recovery
- Grain and Commodities
- Black Sea Port of Odessa A Crucial Hub
- Domestic Consumption and Foreign Trade
The structural reforms imposed by the IMF over the past five years managed to bring down Ukraine's sovereign debt from more than a 100% of gross domestic product (GDP) to just over 50% in 2020. Following a brief recession that year caused by the COVID-19 pandemic, Ukraine was back on the road to economic recovery with a growth rate of 3.2% last yea...
The second-most-important sector is mineral commodities. According to the Germany Trade & Invest (GTAI) foreign trade lobby group, the sector's health is, however, strongly dependent on global market developments in steel, for example. Moreover, the GTAI said in a report published last fall the need for foreign investment in the commodities' sector...
An essential hub for Ukraine's economy is the Odesa Marine Trade Port (OMTP), one of the biggest deep-water ports along the Black Sea coast. OMTP is capable of handling 40 million metric tons of bulk cargo and 25 million tons of liquid cargo annually. The port has ceased operations due to the war, though. German company Hamburger Hafen und Logistik...
Private domestic consumption has become a main pillar of economic growth in Ukraine. Rising local wages and remittances from Ukrainians working abroad have been boosting retail sales in recent years. In addition, the information technology (IT) sector is flourishing on the back of growing numbers of students graduating from universities and college...
Aug 26, 2022 · As the biggest land conflict in Europe since World War II drags on, destroying vital infrastructure and shutting down swathes of the country’s economy, the government in Kyiv remains under ...
1 day ago · A quarter of that war-affected area has since returned to Ukrainian control, first in the early spring of 2022 when Russian troops had to abandon their advance on Kyiv and northern Ukraine, and secondly during Ukraine’s autumn counteroffensive in the same year, when Kyiv regained swathes of territory in the Kharkiv and Kherson regions.
May 7, 2024 · The sector has been transformed by a scramble to find export routes safe from Russian attack. As Taras Kachka, Ukraine’s deputy minister for agriculture, notes, this disturbance has provided ...
Feb 13, 2024 · The WFP-FAO demining project is being carried out in close cooperation with rural communities and the Ukrainian authorities, as part of a broader government effort to clear vast swathes of contaminated land. The goal and the price tag are daunting: the World Bank estimates the cost could exceed $US37 billion.
