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CONSULTING

Updated: 06.07.2009

UKRAINE



Area: 603,700 sq km
Capital City: Kiev (Kyiv) (pop. 2.8 million)
Population: 45,994,288 (July 2008 est.)
Annual growth rate: -0.651% (2008 est.)
Languages: Ukrainian, Russian
Literacy: 99.7%.
Government type: Parliamentary-Presidential Republic
Neighboring countries: Belarus, Russia, Romania, Hungary, Slovakia, Poland
Currency: Hryvnia (UAH)

ECONOMY

GDP: 2007 US$ 142.6bn (IMF)
Annual growth rate: 2,1% (2008), 7,9% (2007)
GDP per capita (PPP): $6,900 (2007 est.)
GDP (PPP): $321.3 billion (2007 est.)
GDP - composition by sector: agriculture: 9%, industry: 32.2%, services: 58.8% (2007 est.)
Major industries: ferrous and non-ferrous metals and products, oil and gas transport, coke, fertilizer, airplanes, turbines, metallurgical equipment, machinery and transport equipment, diesel locomotives, tractors, electric power, chemicals, agriculture, food-processing (especially sugar)
Inflation: 22.3% (2008), 12.8% (2007)
Unemployment: 3% (2008)
Labor force: 22.3 million. Industry and construction--32%; agriculture and forestry--24%; health, education, and culture--17%; transport and communication--7%.
Trade: Exports: $49.84 billion (2007 est.):
Imports: $60.41 billion (2007 est.):
FDI: $10,91 billion (2008)
FDI abroad: 895 million (2007 est.)
With rich farmlands, a well-developed industrial base, highly trained labor, and a good education system, Ukraine has the potential to become a major European economy. Ukraine is rich in natural resources. It has a major ferrous metal industry, producing cast iron, steel, and steel pipe, and its chemical industry produces coke, mineral fertilizers, and sulfuric acid. Manufactured goods include airplanes, turbines, metallurgical equipment, diesel locomotives, and tractors. It also is a major producer of grain, sunflower seeds, and beet sugar and has a broad industrial base, including much of the former U.S.S.R.'s space and rocket industry. Although proven onshore and offshore oil and natural gas reserves are small, there is now petroleum exploration interest in the Ukrainian portion of the Black Sea. It has important energy sources, such as coal, and large mineral deposits, and is one of the world's leading energy transit countries, providing transportation of Russian and Caspian oil and gas across its territory.
Ukraine encourages foreign trade and investment. Foreigners have the right to purchase businesses and property, to repatriate revenue and profits, and to receive compensation in the event that property were to be nationalized by a future government. However, complex laws and regulations, poor corporate governance, weak enforcement of contract law by courts and particularly corruption have discouraged broad foreign direct investment in Ukraine. While there is a functioning stock market, the lack of protection for minority shareholder rights severely restricts portfolio investment activities.
Total foreign direct investment in Ukraine was approximately 7. At $581 per capita, this was one of the lowest figures in the region.

TARGET SECTORS

• Infrastructure and construction
• Rehabilitation of heavy industry
• Fast-moving consumer goods
• Specialised equipment
• Transport
• Communications
• Technical assistance
• Consultancy
• Security
• Education & Training
• EURO 2012 - Ukraine and Poland were selected to host the European Football Championships 2012: Sport infrastructure
Roads
Airports
• Machinery / Automotive
• Consumer electronics
• ICT/High Tech
• Agriculture / Food processing
• Aerospace / aircraft
• Alternative energy
• Tourism & Hotels

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