Economy.
The main sub-sectors of light industry are the textile industry, the garment industry, the leather and fur industries. In 2016, about 16 million Ukrainians were officially employed. Machine building is mainly represented by heavy, transportation, electrical engineering, production of aircraft, ships, military and space equipment, precision equipment. The largest ports are Yuzhne, Odessa, Chornomorsk, Mykolaiv, Kherson, Mariupol. Ukraine has a rich tourism potential: the Carpathian Mountains, historical monuments of old Ukrainian cities, rural (green) tourism, and nature reserves. In 2015, the main export goods were the products of agriculture (31.1%), metallurgy (24.8%), machine building (12.1%), raw minerals (8.1%), food products (6.5%), chemical products (5.6%), timber and wood products (2.9%). The main massifs of forests are concentrated in the Carpathians and Polesie - about 90% of all logging operations of the Ukrainian timber industry are carried out there.
In 2017, the average monthly salary was at the level of about $ 300 per month. After former President YANUKOVYCH fled the country during the Revolution of Dignity, Ukraine’s economy fell into crisis because of Russia’s annexation of Crimea, military conflict in the eastern part of the country, … In 2014, Ukraine, excluding the Crimea, harvested 63.8 million tons of grain and legumes, which became a record since independence. In 2012, the grain harvest amounted to 46 million tons, in 2013 - 63 million tons. The sown area of agricultural crops in farms of all categories for the harvest of 2015 was 26.7 million hectares, which is 540 thousand ha less than in 2014. Ukraine’s modern economy was developed as an integral part of the larger economy of the Soviet Union. The fuel and energy complex of Ukraine only partially meets the country’s needs. Railway transport is of great importance for the economy of Ukraine. The main partners of Ukraine in the EU are Poland, Italy, Germany, Spain, the Netherlands, and Hungary. In 2016 and 2017, Ukraine’s economy grew by about 2% every year after several years of strong decline.
However, it grew rapidly from 2000 until 2008 when the Great Recession began worldwide and reached Ukraine as the 2008-2009 Ukrainian financial crisis. Favorable climatic conditions and soils of Ukraine provide relatively high yields. The production of ferrous metallurgy accounts for almost half of the exports of heavy industry. Ukraine’s oligarch-dominated economy grew slowly from 2010 to 2013 but remained behind peers in the region and among Europe’s poorest. These energy resources are used at large thermal power plants.
The economy of Ukraine is an emerging free market economy. Geographical regions of Ukraine:
From 1990 to 2008, the share of machine building in the structure of Ukraine’s industrial production changed from 31 to 14%, ferrous metallurgy - from 11 to 27%. Ukraine occupies the 8th place in the export of agricultural products to the European Union. The total length of paved roads in Ukraine is about 115,000 km, railways - about 23,000 km; the total length of the river shipping routes - 4,500 km. Ukraine exports auto components, jet engines, railway locomotives and wagons, turbines, pumps and spare parts for them, electrical equipment.
Ukraine is a potentially rich country that realizes itself and is perceived from the outside as a political and economic power similar to Poland and Turkey.
All rights reserved. The chemical industry operates in a single complex with metallurgy, using by-products of metallurgy and coke industry for the production of nitrogen fertilizers, varnishes, paints, and medicines. Its main customers are Hungary, Poland, Slovakia, Romania, and Moldova. The economy of the country is based on a multi-sectoral industry, agriculture, and services. There are international airports in Kyiv, Kharkiv, Dnipro, Zaporozhye, Lviv, and Odessa. In 2015, Ukraine, excluding the Crimea, Sevastopol and parts of the Donetsk and Luhansk regions, collected 60.1 million tons of grain and legumes, sugar beet - 10.3 million tons, potatoes - 20.8 million tons, sunflower seeds - 11.2 million tons. Favorable climatic conditions and soils of Ukraine provide relatively high yields. Before independence, the economy of the Ukrainian SSR was playing a significant role in the economy of the USSR. It grew rapidly from 2000 until 2008 when the Great Recession began worldwide and reached Ukraine as the 2008-2009 Ukrainian financial crisis.