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Economy of Ukraine


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than 10 percent per year. Ukraine was hit by the economic crisis of 2008 and in November 2008, the IMF approved a stand-by loan of $16.5 billion for the country.

Ukraine’s 2010 GDP (PPP), as calculated by the CIA, is ranked 38th in the world and estimated at $305.2 billion. Its GDP per capita in 2010 according to the CIA was $6,700 (in PPP terms), ranked 107th in the world. Nominal GDP (in U.S. dollars, calculated at market exchange rate) was $136 billion, ranked 53rd in the world. By July 2008 the average nominal salary in Ukraine reached 1,930 hryvnias per month. Despite remaining lower than in neighbouring central European countries, the salary income growth in 2008 stood at 36.8 percent According to the UNDP in 2003 4.9% of the Ukrainian population lived under 2 US dollar a day and 19.5% of the population lived below the national poverty line that same year.

Ukraine produces nearly all types of transportation vehicles and spacecraft. Antonov airplanes and KrAZ trucks are exported to many countries. The majority of Ukrainian exports are marketed to the European Union and CIS. Since independence, Ukraine has maintained its own space agency, the National Space Agency of Ukraine (NSAU). Ukraine became an active participant in scientific space exploration and remote sensing missions. Between 1991 and 2007, Ukraine has launched six self made satellites and 101 launch vehicles, and continues to design spacecraft.

The country imports most energy supplies, especially oil and natural gas, and to a large extent depends on Russia as its energy supplier. While 25 percent of the natural gas in Ukraine comes from internal sources, about 35 percent comes from Russia and the remaining 40 percent from Central Asia through transit routes that Russia controls. At the same time, 85 percent of the Russian gas is delivered to Western Europe through Ukraine.

The World Bank classifies Ukraine as a middle-income state. Significant issues include
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