Ukraine economy

• almost $278 billion allocated by international partners in military, financial, and humanitarian assistance for Ukraine from the beginning of the full-scale Russian invasion of Ukraine to January 15, 2024.
• 5.7% real GDP growth in 2023.
• 5.1% is the annual inflation rate in 2023.

Economic outlook

• The National Bank of Ukraine, the World Bank, and the IMF estimate continued moderate growth of real GDP in Ukraine.
• Іn 2023 the largest export from Ukraine bellows to grain crops, seeds, and fruits of oil plants.
• As of January 2024, the inflation rate in Ukraine is generally in line with the general trend in the Eastern Europe.

Economic environment in Ukraine

Key indicators

304,048
new individual entrepreneurs were registered in Ukraine in 2023 (35% more than in 2022 and 7% more than in 2021)¹.

More than 37,000 
new companies have been registered in Ukraine in 2023 (10% more than in 2022)¹.

More than 90% 
of Ukrainian SMEs by the end of 2023 resumed their operations since the beginning of the full-scale Russian invasion of Ukraine^2.

43%
of Ukrainian SMEs are planning to enter international markets².

Sources:
1. Оpendatabot 2. United Nations Development Program (UNDP) 3. National Bank of Ukraine

Why Ukraine?

• As part of Ukraine’s path towards accession to the EU, in 2022, Ukraine acquired the official status of a candidate for joining the EU. It has strengthened the political relations with the Union, as well as deepened the common values between Ukraine and the European community and strengthened the economic ties between the markets.
• Located in the East of Europe, bordered on the south by the Black and Azov Seas
• 2,500 km border with the EU and well-developed transport infrastructure (the third longest railway network in Europe)
• Prospective member of the OECD and the EU candidate.
  Large-scale recovery and reconstruction programs sponsored by G7 nations.
• Urbanisation rate: 70%¹
• Large and prospective market for investment (necessity of post war reconstruction and infrastructure modernization, millions of consumers, largest country in Europe)
• 7th most populated country in Europe – 38 million (2022)¹. Highly educated work force and vibrant start-up environment.
• War risk insurance for investment projects (via MIGA, other national agencies)

Source: 1. World Bank – Ukraine

“Hot industries” for investment

• Military and Defense (localization of manufacturing and maintenance of military products, military tech, R&D, dual-use products for postwar consumption)
• IT (rapidly growing sector in the product development)
• Construction (production of building materials)
• Agriculture (creation of more sustainable and resilient food system in the face of the war in Ukraine and Global Food Security)
• Infrastructure (multimodal hubs; logistic complexes)
• Energy production and networks

Tax and Legal incentives in Ukraine

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