Overview In 2021, Ukraine was the number 53 economy in the world in terms of GDP (current US$), the number 47 in total exports, the number 49 in total imports, the number 124 economy in terms of GDP per capita (current US$) and the number 44 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Ukraine are Iron Ore ($6.83B), Seed Oils ($6.34B), Wheat ($5.87B), Corn ($5.86B), and Semi-Finished Iron ($4.08B), exporting mostly to China ($8.09B), Poland ($5B), Turkey ($4.12B), Russia ($3.61B), and Italy ($3.36B).
In 2021, Ukraine was the world's biggest exporter of Seed Oils ($6.34B)
Imports The top imports of Ukraine are Refined Petroleum ($5.63B), Cars ($4.1B), Petroleum Gas ($3.26B), Packaged Medicaments ($2.26B), and Coal Briquettes ($2.09B), importing mostly from China ($10.4B), Russia ($8.13B), Poland ($7.07B), Germany ($6.42B), and Belarus ($4.74B).
In 2021, Ukraine was the world's biggest importer of Organic Composite Solvents ($119M) and Garnetted Wool or Animal Hair ($1.16M)
Location Ukraine borders Belarus, Hungary, Moldova, Poland, Romania, Russia, and Slovakia by land and Georgia and Turkey by sea.
As a seasoned expert in international economics and trade, my deep understanding of global economic dynamics allows me to provide valuable insights into Ukraine's economic landscape, as outlined in the information you've shared. I have an extensive background in analyzing economic data, trade patterns, and geopolitical factors that shape a country's economic position.
Let's delve into the key concepts highlighted in the provided article about Ukraine's economy in 2021:
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GDP (Gross Domestic Product):
- Ukraine ranked 53rd in the world in terms of GDP (current US$). This ranking reflects the overall economic output of the country.
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Exports:
- Ukraine's top exports include Iron Ore, Seed Oils, Wheat, Corn, and Semi-Finished Iron.
- Notably, in 2021, Ukraine claimed the title of the world's biggest exporter of Seed Oils, contributing significantly to its export revenue.
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Export Destinations:
- The major export destinations for Ukraine include China, Poland, Turkey, Russia, and Italy. These countries represent key trade partners contributing to Ukraine's export revenue.
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Imports:
- The top imports for Ukraine comprise Refined Petroleum, Cars, Petroleum Gas, Packaged Medicaments, and Coal Briquettes.
- Ukraine's largest import sources include China, Russia, Poland, Germany, and Belarus, indicating the diversity of goods and services brought into the country.
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Imported Products:
- Noteworthy imports for 2021 include Organic Composite Solvents and Garnetted Wool or Animal Hair. Ukraine emerged as the world's biggest importer of Organic Composite Solvents and showcased notable imports of Garnetted Wool or Animal Hair.
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GDP per Capita:
- Ukraine ranked 124th in terms of GDP per capita (current US$), highlighting the average economic output per person in the country.
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Economic Complexity Index (ECI):
- Ukraine was positioned as the 44th most complex economy according to the Economic Complexity Index (ECI). This index reflects the diversity and sophistication of a country's export structure.
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Geographical Location:
- Ukraine shares land borders with Belarus, Hungary, Moldova, Poland, Romania, Russia, and Slovakia. Additionally, it has maritime boundaries with Georgia and Turkey.
By synthesizing this information, one can appreciate the multifaceted nature of Ukraine's economy, its strategic trade partnerships, and the diversity of both its exports and imports. This comprehensive overview is essential for understanding Ukraine's economic position in the global landscape and predicting potential trends for the future.
