Ukraine Exports – Assisting the Economy
Ukraine has a well-developed industrial base and rich farmlands. The country also has quite a lot of mineral resources which are drawn on for both local use and exportation. The main exports from Ukraine are ferrous and nonferrous metals, chemicals, machinery, fuel and petroleum products, transport equipment and food products. Currently the country's gross domestic product is an estimated 81.4 billion. Some 34.29 billion was made from Ukrainian exports last year alone. Currently Ukraine’s main export partners are Russia, Germany, Turkey, Italy and the USA.
As things stand, Ukraine is seeing a lot of financial gain from exports. The country has immense agricultural, mineral and industrial resources which it continues to draw on and profit from. Despite suffering eight years of economic decline, Ukraine has emerged as a country of immense economical importance. Since the turn of the century the country’s economic growth averaged 7.4% a year, but this dropped to about 2.6% last year. The high rate of poverty has begun to drop as personal incomes continue to rise. Ukraine’s currency has remained fairly stable since its introduction in 1996 and, all in all, the country’s economy has improved in leaps and bounds. Ukraine is now recognized as having the potential to become a major European economy.
Ukrainian exports have certainly helped the country’s economy to stabilize over the past few years. Besides the country’s major exports mentioned above, the country is involved in many spheres of commerce. Crop farming, timber harvesting, coal, ironstone, complex ore and mineral deposit mining are major contributors to the country’s GDP. Grain, sugar and sunflower seeds are the main agricultural yields. Besides metals and oil products the country is also involved in producing coke, fertilizer, airplanes, turbines, metallurgical equipment, diesel locomotives and tractors. Ukraine also imports energy, mineral fuel, oil, machinery and parts, transportation equipment, chemicals, paper and textiles.