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GDP | USD155.58bn (World ranking 54, World Bank 2020) |
Population | 44.35mn (World ranking 33, World Bank 2020) |
Form of state | Republic |
Head of government | Volodymyr ZELENSKY (President) |
Next elections | 2024, presidential and legislative |

- Fertile black soil
- Willingness of International Financial Institutions and bilateral donors to support Ukraine financially

- Severe conflicts with separatists in east Ukraine ...
- ... and with Russia (which supports the separatists)
- History of political instability and government inefficiency; weak constitutional framework
- High economic dependence on Russia (major trading partner, in particular natural gas supplier)
- Poor economic policy track record
- Exchange rate vulnerability
- Modest foreign exchange reserves, implying significant transfer and convertibility risk
- High public and external debt levels
- A generally weak business environment
Trade structure by destination/origin
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
China
14.5%
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1 |
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Poland
6.7%
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2 |
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Russia
5.5%
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3 |
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Turkey
4.9%
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4 |
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Germany
4.2%
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5 |
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Trade structure by product
(% of total, 2020)
Exports | Rank | Imports |
---|---|---|
Cereals and cereal preparations
19.8%
|
1 |
9.6%
Road vehicles
|
Iron and steel
16.7%
|
2 |
7.6%
Petroleum, petroleum products and related materials
|
Fixed vegetable oils and fats, crude, refined or fractionated
11.5%
|
3 |
6.9%
Electrical machinery, apparatus and appliances, n.e.s.
|
Metalliferous ores and metal scrap
10.0%
|
4 |
4.9%
Medicinal and pharmaceutical products
|
Electrical machinery, apparatus and appliances, n.e.s.
4.8%
|
5 |
4.4%
Other industrial machinery and parts
|
LATEST NEWS ABOUT UKRAINE
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Global trade: Battling out of demand and price shocks
25 March
The invasion of Ukraine and renewed Covid-19 outbreaks in China are hitting global trade with a double whammy in 2022: lower volumes and higher prices.
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Russian dolls: unwrapping corporate (commodity) dependencies
22 March
If oil and energy prices, as well as non-energy commodity prices, remain high, the metals and power sectors are most at risk of a profitability shock.
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Economic Outlook: Energy, trade and financial shockwaves
18 March
Allianz Research now expects global GDP growth of +3.3% in 2022 and +2.8% in 2023 as the Russian invasion of Ukraine raises geopolitical risks.
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