Posted inEconomy

More and more Ukrainian businesses are embracing international expansion

The unprecedented disruptive impact of Russia’s ongoing invasion is prompting Ukrainian businesses to enter foreign markets in record numbers. This expansion is no longer limited to neighboring European Union member states on Ukraine’s western border, and has now become a much more global phenomenon. Growing numbers of Ukrainian companies are seeking to establish a presence […]

Posted inEconomy

For the first time ever, Ukraine has passed the winter heating season relying exclusively on domestic gas

The Ukrainian energy sector reached a significant milestone on 1 March, 2024. The arrival of spring meant that for the first time in the country’s independent history, Ukraine passed the entire winter heating season relying exclusively on domestically produced gas. “The first day of spring. This means that we spent the winter entirely on Ukrainian […]

Posted inEconomy

Breadbasket of Europe: Ukraine was the European Union’s third largest agricultural supplier in 2023

Ukraine is the third largest agricultural supplier to the EU, according to new figures released by the European Commission in January. Data covering the period from January to October 2023 showed Ukraine in the number three position among agri-food exporters to European Union markets behind first placed Brazil and the United Kingdom, with the United […]

Posted inEconomy

World Bank forecast: Ukraine could be Europe’s fastest-growing economy by 2025

The World Bank expects Ukrainian GDP to increase by 6.5% in 2025, the highest anticipated growth rate in Europe. In a newly released January 2024 Global Economic Prospects overview, World Bank analysts have also upwardly revised their earlier estimate for Ukrainian GDP growth in 2023 from 2% to 4.8%. This optimistic outlook mirrors a similarly […]

Posted inEconomy

Leading Turkish e-commerce company plans to launch in Ukraine despite wartime challenges

One of the largest Turkish e-commerce companies had confirmed plans to launch in Ukraine. In a January 7 interview with Bloomberg, Hepsiburada CEO Nilhan Onal Gokcetekin said the company is ready to begin large-scale Ukrainian sales if an initial trial run proves successful. The Hepsiburada chief executive said her company is not deterred by the […]

Posted inEconomy

Ukraine exports 10 million tons of agricultural produce since breaking Russia’s Black Sea blockade

Ukraine has exported more than 10 million tons of agricultural produce since breaking the Russian naval blockade of the country’s Black Sea ports five months ago, Ukrainian Infrastructure Minister Oleksandr Kubrakov announced on 8 January. According to Kubrakov, Ukraine has now shipped almost 15 million tons of cargo in total following the launch of a […]

Posted inEconomy

Credit Agricole impressed by the adaptability of Ukraine’s resourceful agricultural sector

Credit Agricole Bank has been closely engaged in the development of the Ukrainian agricultural sector for the past three decades, but nothing could quite prepare the bank or its clients for the unique challenges presented Russia’s full-scale invasion of the country when it began in February 2022. With the war now approaching the two-year mark, […]

Posted inEconomy

IMF upgrades Ukraine’s 2023 GDP growth forecast to 4.5% amid “stronger than expected recovery”

The International Monetary Fund has upgraded its 2023 GDP growth forecast for Ukraine to 4.5% while praising the “remarkable resilience” of the country’s wartime economy. The new figure is a significant increase on the earlier forecast of growth between one and three percent. Speaking in Polish capital Warsaw on November 10 following a meeting with […]

Posted inEconomy

Survey: 58% of Ukrainian companies expect to see positive business dynamics in 2024

The new Business Forecasts for 2024 survey conducted by Ukraine’s European Business Association (EBA) has identified a range of positive indicators that point to growing confidence within the Ukrainian business community despite Russia’s ongoing invasion. Released on 11 September, the survey found that more than half of respondents (58%), expect to see their business develop […]