The State of Europe – Richest and Poorest Countries in the Continent

Ukraine

The economic state of Ukraine has been a tumultuous one since the collapse of the Soviet Union. Like most post-soviet era countries, it suffered from a decade of economic downturn. After the 2008 financial crisis, the Ukrainian economy saw another hard hit. However, since 2016, the economy has seen a growing upward trend for the first time in years.

In 2017 the World Bank announced that the Ukrainian economy had grown 2.3%, marking the end of the recession they had been in for years prior. The Ukrainian economy maintains many key pieces required of a successful European economy. A skilled labor force, highly educated populace, and rich farmlands.

credit: Wikipedia
While the Ukrainian workforce has an estimated 9 million Ukrainian citizens working abroad, a 2017 World Bank statement estimated that remittance of money back into Ukraine has doubled between 2015 – 2018, and accounts for roughly 4% of the nation’s GDP. The GDP of Ukraine is rough $124 Billion nominal, with 67.8% services, 26.5% industry, and 6% agriculture.

GDP global rank: 57th
GDP per capita global rank: 128th
GDP European rank: 23rd
GDP per capita European rank: 119th