Country Details
Ukraine
Eastern Europe, bordering the Black Sea, between Poland, Belarus, Romania, and Moldova in the west and Russia in the east
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Economy
Detailed information and insights
Economic overview
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 in western Ukraine; international aid has stabilized foreign exchange reserves, allowing managed currency float; continued progress on anti-corruption reforms
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024
$577.583 billion (2024 est.)
Real GDP (purchasing power parity) 2023
$561.23 billion (2023 est.)
Real GDP (purchasing power parity) 2022
$531.796 billion (2022 est.)
Real GDP growth rate
Real GDP growth rate 2024
2.9% (2024 est.)
Real GDP growth rate 2023
5.5% (2023 est.)
Real GDP growth rate 2022
-28.8% (2022 est.)
Real GDP per capita
Real GDP per capita 2024
$16,300 (2024 est.)
Real GDP per capita 2023
$15,900 (2023 est.)
Real GDP per capita 2022
$13,800 (2022 est.)
GDP (official exchange rate)
$190.741 billion (2024 est.)
Note
note: data in current dollars at official exchange rate
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2024
6.5% (2024 est.)
Inflation rate (consumer prices) 2023
12.8% (2023 est.)
Inflation rate (consumer prices) 2022
20.2% (2022 est.)
GDP - composition, by sector of origin
Agriculture
7.1% (2024 est.)
Industry
19% (2024 est.)
Services
60.6% (2024 est.)
GDP - composition, by end use
Household consumption
62.4% (2024 est.)
Government consumption
37.9% (2024 est.)
Investment in fixed capital
18.9% (2024 est.)
Investment in inventories
-0.3% (2024 est.)
Exports of goods and services
29.4% (2024 est.)
Imports of goods and services
-48.3% (2024 est.)
Agricultural products
maize, wheat, potatoes, sugar beets, sunflower seeds, milk, barley, soybeans, rapeseed, tomatoes (2023)
Note
note: top ten agricultural products based on tonnage
Industries
industrial machinery, ferrous and nonferrous metals, automotive and aircraft components, electronics, chemicals, textiles, mining, construction
Industrial production growth rate
4.1% (2024 est.)
Note
note: annual % change in industrial value added based on constant local currency
Labor force
20.539 million (2021 est.)
Note
note: number of people ages 15 or older who are employed or seeking work
Unemployment rate
Unemployment rate 2021
9.9% (2021 est.)
Unemployment rate 2020
9.5% (2020 est.)
Unemployment rate 2019
8.2% (2019 est.)
Youth unemployment rate (ages 15-24)
Total
19.1% (2021 est.)
Male
18.1% (2021 est.)
Female
20.4% (2021 est.)
Population below poverty line
1.6% (2020 est.)
Note
note: % of population with income below national poverty line
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2020
25.6 (2020 est.)
Average household expenditures
On food
41.7% of household expenditures (2023 est.)
On alcohol and tobacco
6.9% of household expenditures (2023 est.)
Household income or consumption by percentage share
Lowest 10%
4.3% (2020 est.)
Highest 10%
21.7% (2020 est.)
Remittances
Remittances 2024
6.3% of GDP (2024 est.)
Remittances 2023
8.3% of GDP (2023 est.)
Remittances 2022
10.4% of GDP (2022 est.)
Budget
Revenues
$86.185 billion (2023 est.)
Expenditures
$121.657 billion (2023 est.)
Public debt
Public debt 2020
58.7% of GDP (2020 est.)
Taxes and other revenues
17.5% (of GDP) (2023 est.)
Note
note: central government tax revenue as a % of GDP
Current account balance
Current account balance 2024
-$13.749 billion (2024 est.)
Current account balance 2023
-$9.564 billion (2023 est.)
Current account balance 2022
$7.976 billion (2022 est.)
Exports
Exports 2024
$56.114 billion (2024 est.)
Exports 2023
$51.28 billion (2023 est.)
Exports 2022
$57.517 billion (2022 est.)
Exports - partners
Poland 12%, Romania 9%, Turkey 7%, China 6%, Spain 6% (2023)
Note
note: top five export partners based on percentage share of exports
Exports - commodities
corn, seed oils, wheat, iron ore, soybeans (2023)
Note
note: top five export commodities based on value in dollars
Imports
Imports 2024
$92.025 billion (2024 est.)
Imports 2023
$89.159 billion (2023 est.)
Imports 2022
$83.254 billion (2022 est.)
Imports - partners
China 16%, Poland 14%, Germany 8%, Turkey 6%, USA 4% (2023)
Note
note: top five import partners based on percentage share of imports
Imports - commodities
refined petroleum, cars, natural gas, packaged medicine, plastic products (2023)
Note
note: top five import commodities based on value in dollars
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024
$43.781 billion (2024 est.)
Reserves of foreign exchange and gold 2023
$40.51 billion (2023 est.)
Reserves of foreign exchange and gold 2022
$28.506 billion (2022 est.)
Debt - external
Debt - external 2023
$90.003 billion (2023 est.)
Exchange rates
Currency
hryvnia (UAH) per US dollar -
Exchange rates 2024
40.152 (2024 est.)
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.)