Ukraine: Facts & Stats

ECONOMY

The economy of Ukraine is the 45th in the world (2008). It experienced recession during the 1990s (hyperinflation and drastic falls in economic output); GDP growth started in 2000 (in 2007 real GDP growth - 7%). However Ukraine was greatly affected by the economic crisis of 2008.

The principle purposes of state economic policy include integration into the world economy and accomplishment of economic and social cooperation with the European Union.

Industry:

Ukrainian 20 major industries are coal (in 2005 Ministry of Coal Industry was created), electric power, ferrous and nonferrous metals, machinery and transport equipment, food processing, power generating, fuel, chemicals and petrochemicals and gas, forest and others.

In the coal-mining industry, more than 300 mines are operated in three coal-mining regions. Ukraine produces only 5.5 million tons of its own oil, but the ramified network of oil pipelines supports the operation of 10 petroleum plants. The Ukrainian gas pipelines transport the Russian gas to Central and Western Europe. More than 200 large enterprises are operating in ferrous and non-ferrous metallurgy, pipe and rolling industries.

The mechanical engineering sector is represented by enterprises producing metallurgical, oil, chemical, mining, power generating, railway (locomotives, carriages, tank-cars, etc.), road construction and transportation (ships, aircraft, cars, city transport) equipment, machinery for agriculture, light and food industry, metal-cutting machine tools. Also Ukraine is recognized as a world leader in producing missiles and missile related technology.

The industry of Ukraine includes more than 10 000 state and joint stock enterprises. Hundreds of private and collectively owned small and medium-sized businesses have been established over the last years.

Agriculture:

Ukraine covers the area of more than 600,000 square km. It has different soil types. Most of them are highly fertile and productive thanks to numerous types of black soils. The climate is temperate continental all over the county, excluding southern shore of Crimea which has subtropical characteristics. All the above factors are very favorable for agricultural production.

In 1990s Ukraine was in the process of structural disintegrations as a result of reforms initiated in Agro-Industrial complex. Crisis in agriculture began later than in the other fields. The total output of agricultural production in 1997 was 43% less as compared with the average of the period of 1986-1990. Since 1993 the profitability rate was in constant decrease. In 1996 agricultural production became unprofitable (profitability rate constituted 11.2%, rate of return -1.8%). Only the production of grains, grain beans and sunflowers was profitable.

Nowadays Agrarian Policy of Ukraine comprise developing of gardening, wine-growing, food and fish industry; recycling of agricultural products; organizing and providing implementation of agrarian reform.

Research & Development:

Ukraine has its own space agency, the National Space Agency of Ukraine (NSAU). Ukraine is an active participant in scientific space exploration. In 1991 - 2007 Ukraine launched six self-made satellites and 101 launch vehicles, and continues to design spacecraft. Nowadays Ukraine is recognized as a world leader in producing missiles and missile related technology.

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