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; 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, potatoes, wheat, sunflower seeds, sugar beets, milk, barley, soybeans, rapeseed, cabbages (2022).
More about the economy of Ukraine
| Labor force | 20.312 million (2021 est.) |
|---|---|
| Industrial production growth rate | 8.61% (2023 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 | 16.69% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | hryvnia (UAH) per US dollar - |
| 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.) |
| Exchange rates 2019 | 25.846 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $40.51 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $28.506 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $30.967 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$9.209 billion (2023 est.) |
| Current account balance 2022 | $7.972 billion (2022 est.) |
| Current account balance 2021 | -$3.882 billion (2021 est.) |
| Public debt | |
| Public debt 2020 | 58.72% of GDP (2020 est.) |
| Budget | |
| Revenues | $68.559 billion (2022 est.) |
| Expenditures | $93.783 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 8.46% of GDP (2023 est.) |
| Remittances 2022 | 10.36% of GDP (2022 est.) |
| Remittances 2021 | 9.04% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 4.3% (2020 est.) |
| Highest 10% | 21.8% (2020 est.) |
| Average household expenditures | |
| On food | 42.7% of household expenditures (2022 est.) |
| On alcohol and tobacco | 6.9% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $88.488 billion (2023 est.) |
| Imports 2022 | $83.254 billion (2022 est.) |
| Imports 2021 | $84.175 billion (2021 est.) |
| Imports (partners) | Poland 17%, China 12%, Germany 9%, Turkey 6%, Hungary 4% (2022) |
| Comodities Imports force | refined petroleum, cars, natural gas, garments, packaged medicine (2022) |
| Exports | |
| Imports 2023 | $88.488 billion (2023 est.) |
| Imports 2022 | $83.254 billion (2022 est.) |
| Imports 2021 | $84.175 billion (2021 est.) |
| Exports (partners) | Poland 14%, Romania 8%, Turkey 6%, China 6%, Germany 5% (2022) |
| Comodities Exports force | corn, seed oils, wheat, iron ore, rapeseed (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $559.981 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $531.796 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $746.471 billion (2021 est.) |
| GDP (official exchange rate) | $178.757 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $16,200 (2023 est.) |
| Real GDP per capita 2022 | $15,000 (2022 est.) |
| Real GDP per capita 2021 | $18,000 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 7.4% (2023 est.) |
| Industry | 18.8% (2023 est.) |
| Services | 61.3% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 64.1% (2023 est.) |
| Government consumption | 41.7% (2023 est.) |
| Investment in fixed capital | 16.9% (2023 est.) |
| Investment in inventories | -1.8% (2023 est.) |
| Exports of goods and services | 28.6% (2023 est.) |
| Imports of goods and services | -49.5% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2021 | 9.83% (2021 est.) |
| Unemployment rate 2020 | 9.48% (2020 est.) |
| Unemployment rate 2019 | 8.19% (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.
