Ukraine has a GDP of about 160 billion euros. It is therefore greater than the sum of the three Baltic countries, although its per capita GDP is half that of the least wealthy Baltic country (Latvia), 8,000 euros.
Its economy fell sharply during the first 10 years after the independence from the Soviet Union, suffering FROM hyperinflation and a collapse of its industrial production index. Nevertheless, between 2000 and 2008, the country experienced a period of strong growth, surpassing its 1990 levels by 2004. Subsequently, the crisis of 2008 affected it deeply, with a collapse of 15% of its economy in 2009. The grivna (national currency) depreciated more than 50% and Ukraine did not reach its 2008 GDP rates until 2013.
Since 2010 the Ukrainian economy has grown at a rate of 4% until 2014. That year it endured a GDP fall of 6.8% and in 2015 it is expected to decrease by more than 10%.
Notwithstanding the macroeconomic indicators, many international investors consider Ukraine as a depreciating asset to invest in now taking advantage of the low cycle of its economy. The country’s progressive orientation towards Europe, its anti-corruption measures, the fall of its currency (which confers advantages to investments in euros or dollars) and the truce in its regional conflict (with the recent approval by the Parliament of a system of greater autonomy to the regions) make it likely to expect extraordinary returns for projects in the medium and long term.
The Ukrainian financial sector is currently in a process of recapitalization and restructuring in order to ensure efficiency in the performance of its functions and its ability to cover deposits in case of bank failures. The country program has received significant loans from the World Bank, the latter amounting to $ 500 million in the second half of 2015.
With regard to foreign trade, Ukraine exports mainly semi-finished products of iron ORE?, oil seeds (with great presence of sunflower oil, which they export around the world for the best international prices), corn, hot rolled iron, steel, coal, fuel and petroleum products, chemicals and machinery. Its main buyers are Russia, Turkey, Egypt, Kazakhstan and China.
As for imports, the country buys mainly petroleum gas, refined oil, automobiles, packaged medicines and coal. Its main export partners are Russia, China, Germany, Poland and Belarus.
The most modest European country holds also the record at poverty reduction ratio in Europe since 2006. More than 50% of people considered poor in that year had already left that status in 2012. The National poverty rate has dropped from 30.2% to 16% and extreme poverty from 4.5% to a mere 0.6% (surprising fall of 90%).
The rates of GDP growth have been equally extraordinary, with 7.1% in 2010, 6.4% in 2011 and 9.4% in 2013. Despite the relative hit inflicted by the Russian economy slowdown, Moldova maintained a solid 4.8% growth in 2014 and continues to grow at a steady pace in 2015.
The opportunities offered by this neighbor of Ukraine are located both in the field of consumption, growing at the rate of GDP in a market with 3.5 billion consumers, and investment, given the advantages of outsourcing production in the country with the most competitive labor costs in Europe and a strategic location between the EU and Ukraine.