Covid-19 has reversed the gradual recovery path

D4

HIGH RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD154bn (World ranking 57, World Bank 2019)
Population 44.4mn (World ranking 32, World Bank 2019)
Form of state Republic
Head of government Volodymyr ZELENSKY (President)
Next elections 2024, presidential and legislative
  • Fertile black soil
  • Willingness of International Financial Institutions and bilateral donors to support Ukraine financially
  • Severe conflicts with separatists in east Ukraine ...
  • ... and with Russia (which supports the separatists)
  • History of political instability and government inefficiency; weak constitutional framework
  • High economic dependence on Russia (major trading partner, in particular natural gas supplier)
  • Poor economic policy track record
  • Exchange rate vulnerability
  • Modest foreign exchange reserves, implying significant transfer and convertibility risk
  • High public and external debt levels
  • A generally weak business environment

Trade structure by destination/origin

(% of total)

Exports Rank Imports
Russia 13%
1
20% Russia
Turkey 7%
2
10% Germany
China 7%
3
10% China
Egypt 5%
4
6% Belarus
Poland 5%
5
6% Poland

Trade structure by product

(% of total)

Exports Rank Imports
Agricultural products; foodstuff 38%
1
32% Mineral products (incl. oil, gas)
Metals & metal producs 25%
2
16% Machinery
Machinery 10%
3
13% Chemicals & pharmaceuticals
Mineral products (incl. oil, gas) 8%
4
9% Agricultural products; foodstuff
Chemicals & pharmaceuticals 6%
5
7% Plastics & rubber
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