Just The Facts

8 Facts: Taking Stock of Ukraine’s Economy

Ukraine’s economy has been stuck in neutral since the end of the Cold War.

The Ukrainian hryvnia (Credit: Sergieiev- Shutterstock.com)

Takeaways


  • Ukraine is only the 12th-largest economy in Europe (as measured by PPP).
  • Ukraine's economy is about one-ninth the size of Germany's $3.45 trillion economy, which is Europe's largest.
  • With 45.6 million people, Ukraine's per capita GDP is just $8,670 — one of the lowest income levels in all of Europe.

1. With a GDP of $395 billion in 2012, Ukraine has only the 12th-largest economy in Europe (as measured in terms of purchasing power parity).

2. Ukraine’s economy is about one-ninth the size of Germany’s $3.45 trillion economy, which is Europe’s largest.

3. Ukraine has almost twice as much landmass as Germany, but only about 57% of Germany’s 80.4 million population.

4. With 45.6 million people, Ukraine’s per capita GDP is just $8,670 — one of the lowest income levels in all of Europe.

5. By comparison, the per capita GDP of the 18-country eurozone is $36,356 — while in the 28-country European Union it is $33,376.

6. Ukraine’s population is about seven million larger than Poland’s 38.5 million, but its economy is less than half the size of Poland’s ($821.4 billion).

7. In 1992, just after the dissolution of the Soviet Union, Ukraine’s economy (at $308.4 billion) was actually 50% larger than Poland’s ($218.8 billion).

8.This means that while Poland’s economy has nearly quadrupled in size since 1992, Ukraine’s has barely grown at all.

Source: World Bank, with additional analysis by The Globalist Research Center.

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