Economy of Ukraine

Ukraine is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Ukraine may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Ukraine exports around $71.14 billion and imports roughly $87.21 billion. 9.5% of population in the country are unemployed. The total number of unemployed people in Ukraine is 4,180,875. In Ukraine, 24.1% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Ukraine is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 5.3% of GDP. The Gini Index of the country is 28.2. Ukraine is experiencing high equality. Differences in income among citizens are only mildly significant. Ukraine has a Human Development Index (HDI) of 0.734. Ukraine has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for Ukraine is 2.845. The strength of legal rights index for Ukraine is 8. Overall, it is considered to be rather adequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available.

Currency

The currency of Ukraine is Ukrainian hryvnia. The plural form of the word Ukrainian hryvnia is hryvnas. The symbol used for this currency is ₴, and it is abbreviated as UAH. The Ukrainian hryvnia is divided into Kopiyka; there are 100 in one hryvnia.

Credit rating

The depth of credit information index for Ukraine is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Ukraine has a credit rating score of B-, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Ukraine has a credit rating score of CC, and the prospects of this rating are negative. According to the Moody's credit-rating agency, Ukraine has a credit rating score of Ca, and the prospects of this rating are negative.

Central bank

In Ukraine, the institution that manages the state's currency, money supply, and interest rates is called National Bank of Ukraine. Locally, the central bank of Ukraine is called Національний банк України. The average deposit interest rate offered by local banks in Ukraine is 12.1%.

Public debt

Ukraine has a government debt of 38.8% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information

The corporate tax in Ukraine is set at 18%. Personal income tax ranges from 15% to 20%, depending on your specific situation and income level. VAT in Ukraine is 20%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Ukraine is $371812 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Ukraine was last recorded at $8 million. PPP in Ukraine is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Ukraine is 188,350 billion. Based on this statistic, Ukraine is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Ukraine was last recorded at $4 million. The average citizen in Ukraine has low wealth. Countries with low wealth per capita often have slightly lower life expectancies and lower quality of living among citizens. It can be difficult to find highly skilled workers in countries with low wealth, as it is occasionally difficult for citizens to obtain the requisite education needed for specialized industries. Labor can be found for low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Ukraine averaged -6.5% in 2014. According to this percentage, Ukraine is currently experiencing significant decline. Countries that are experiencing significant decline could be experiencing dramatic decreases in personal consumption, employment rate, and personal income. A significant decline in GDP should warn investors that this location poses a high level of risk and should not be considered a safe location for investment. To read more about financial information click on finances of Ukraine.

Industry

Major industries in the country are coal, electric power, ferrous and nonferrous metals, machinery and transport equipment, chemicals, food processing. The total labor force of Ukraine is 20,510,250 people, wherein 9.5% of population in the country are unemployed. The total number of unemployed people in Ukraine is 4,180,875. The Industrial Production growth rate of Ukraine is 8%.To read more about industrial information within Ukraine click on industry of Ukraine.

Agriculture

There are 324791 km² of arable land in Ukraine, and it comprises 54% of the country's total territory. There are 333847 km² of cultivated land in Ukraine. The country's major agricultural crops and products are grain, sugar beets, sunflower seeds, vegetables, beef, milk.To read more about agriculture click on agriculture of Ukraine.