Because of the War Ukraine Has Experienced a Significant Reduction in the Volume of Commodity Exports

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Because of the war (destruction of assets, problems with logistics, population migration) Ukraine has experienced a significant compression of commodity exports, deterioration of its structure, loss of part of its export potential (primarily in the MMC).

Support of export, its expansion and diversification is undoubtedly one of the main tasks for recovery of small and open economy, which Ukraine is by global standards.

In the last pre-war year Ukraine accounted for 0.2% of the global GDP but 0.3% of the global merchandise exports, placing it among the world's top 50 countries by volume (49th place). The figures are relatively small, but they clearly show its place in the global world.

Due to the relatively small size of the economy, the general course for such countries to accelerate economic growth, to ensure its sustainable rate for the interval of 10-20 years, to increase incomes of population is to enter foreign markets, and not to be locked in the middle, to develop exports, and not import substitution.


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