Ukraine - Economy
How is the economy of Ukraine? Based on the information we have, Ukraine has a
lower-middle-income, non-EU, Eastern European economy; key wheat and corn exporter; gradual recovery after 30% GDP contraction at start of war; damage to infrastructure and agriculture balanced by consumer and business resilience in western Ukraine; international aid has stabilized foreign exchange reserves, allowing managed currency float; continued progress on anti-corruption reforms
. Key agricultural products in this country include: maize, wheat, potatoes, sugar beets, sunflower seeds, milk, barley, soybeans, rapeseed, tomatoes (2023).More about the economy of Ukraine
| Labor force | 20.539 million (2021 est.) |
|---|---|
| Industrial production growth rate | 4.1% (2024 est.) |
| Industries | industrial machinery, ferrous and nonferrous metals, automotive and aircraft components, electronics, chemicals, textiles, mining, construction |
| Population below poverty line | 1.6% (2020 est.) |
| Taxes and other revenues | 17.5% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | hryvnia (UAH) per US dollar - |
| Exchange rates 2024 | 40.152 (2024 est.) |
| Exchange rates 2023 | 36.574 (2023 est.) |
| Exchange rates 2022 | 32.342 (2022 est.) |
| Exchange rates 2021 | 27.286 (2021 est.) |
| Exchange rates 2020 | 26.958 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $90.003 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $43.781 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $40.51 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $28.506 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$13.749 billion (2024 est.) |
| Current account balance 2023 | -$9.564 billion (2023 est.) |
| Current account balance 2022 | $7.976 billion (2022 est.) |
| Public debt | |
| Public debt 2020 | 58.7% of GDP (2020 est.) |
| Budget | |
| Revenues | $86.185 billion (2023 est.) |
| Expenditures | $121.657 billion (2023 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 6.3% of GDP (2024 est.) |
| Remittances 2023 | 8.3% of GDP (2023 est.) |
| Remittances 2022 | 10.4% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 4.3% (2020 est.) |
| Highest 10% | 21.7% (2020 est.) |
| Average household expenditures | |
| On food | 41.7% of household expenditures (2023 est.) |
| On alcohol and tobacco | 6.9% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $92.025 billion (2024 est.) |
| Imports 2023 | $89.159 billion (2023 est.) |
| Imports 2022 | $83.254 billion (2022 est.) |
| Imports (partners) | China 16%, Poland 14%, Germany 8%, Turkey 6%, USA 4% (2023) |
| Comodities Imports force | refined petroleum, cars, natural gas, packaged medicine, plastic products (2023) |
| Exports | |
| Imports 2024 | $92.025 billion (2024 est.) |
| Imports 2023 | $89.159 billion (2023 est.) |
| Imports 2022 | $83.254 billion (2022 est.) |
| Exports (partners) | Poland 12%, Romania 9%, Turkey 7%, China 6%, Spain 6% (2023) |
| Comodities Exports force | corn, seed oils, wheat, iron ore, soybeans (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $577.583 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $561.23 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $531.796 billion (2022 est.) |
| GDP (official exchange rate) | $190.741 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $16,300 (2024 est.) |
| Real GDP per capita 2023 | $15,900 (2023 est.) |
| Real GDP per capita 2022 | $13,800 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 7.1% (2024 est.) |
| Industry | 19% (2024 est.) |
| Services | 60.6% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 62.4% (2024 est.) |
| Government consumption | 37.9% (2024 est.) |
| Investment in fixed capital | 18.9% (2024 est.) |
| Investment in inventories | -0.3% (2024 est.) |
| Exports of goods and services | 29.4% (2024 est.) |
| Imports of goods and services | -48.3% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2021 | 9.9% (2021 est.) |
| Unemployment rate 2020 | 9.5% (2020 est.) |
| Unemployment rate 2019 | 8.2% (2019 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 19.1% (2021 est.) |
| Male | 18.1% (2021 est.) |
| Female | 20.4% (2021 est.) |
All Important Facts about Ukraine
Want to know more about Ukraine? Check all different factbooks for Ukraine below.
