Ukraine’s Economy 30 Years Ago and Now

by Olha Povaliaieva
Wednesday, February 2, 2022
Ukraine’s Economy 30 Years Ago and Now

As the level of gross domestic product and exports has changed

The economy of independent Ukraine will be 31 years old this year. Therefore we propose to remember and learn what the country has achieved in the past 30 years.

When it comes to assessing the economy of any country, it is primarily the GDP. The gross domestic product shows the total value of goods, works, and services that the entire economy has produced for the year. Nominally, Ukraine’s GDP has long exceeded the level of the early 1990 years. Active GDP growth was observed in the first half of 2000, while all 1990 economies of the country were steadily declining. Per capita GDP per inhabited peaked in 2013.

Agriculture in the last decade has gradually increased output and its contribution to the country’s GDP. In particular, meat exports are growing. The cultivation of fresh poultry and the production of eggs is also growing. The last indicator has already surpassed the level of 1990. Of course, there is demand for these indicators in the country and abroad.

Ukraine has long exceeded the indicators of early independence in plant growing. In recent years record grain crops have been recorded. Their largest volumes were in 2019. In 2022, the country is planning to set a new record for crop yields.

Export also gives Ukraine a new, better economic position. In recent years, agriculture, metallurgy, and services of specialists from different areas have dominated exports.

For three decades, Ukraine has become energy-independent. We talked about it earlier.

Therefore, 30 years is a considerable period for changes in the economy. And Ukraine has proved this.

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