Scientific Collection «InterConf», (39): with the Proceedings of the 8th International Scientific and Practical Conference «Science and Practice: Implementation to Modern Society» (December 26-28, 2020) at Manchester, Great Britain

Table 1 
Key indicators of socio-economic development 
Ukraine in 2014-2019 * 
Indicator 
2014 
2015 
2016 
2017 
2018 
2019 
2019/ 
2014, % 
Volume of sold industrial 
products, billion UAH 
1066,8 1351,4 1565,3 1926,9 2261,6 2272,7 
213,0 
Industrial production index 
89,3 
86,6 
102,4 
99,9 
101,1 
98,2 
110,0 
Industrial producer price index 
131,8 
136 
120,5 
126,4 
117,4 
104,1 
79,0 
Volume 
of 
agricultural 
products, billion UAH 
370,8 
544,2 
631,1 
690,9 
843,3 
840,6 
226,7 
Index of agricultural products 
97,4 
95,2 
106,1 
97,3 
107,8 
101,1 
103,8 
Volume 
of 
manufactured 
construction products, UAH 
billion 
50,2 
55,9 
70,9 
101,1 
136,3 
177,0 
352,6 
Construction products index 
78,3 
85,1 
113,1 
120,9 
104,4 
126,8 
161,9 
Retail trade turnover, UAH 
billion 
903,5 
1018,8 1159,3 
816,6 
928,6 
1096,7 
121,4 
Freight turnover, billion tons / 
km 
335,2 
315,3 
323,5 
343,1 
331,7 
338,9 
101,1 
Passenger 
turnover, 
billion 
passenger-km 
106,1 
97,3 
102,2 
99,3 
103,8 
107,9 
101,7 
Consumer price index 
124,9 
148,7 
113,9 
114,4 
110,9 
107,9 
86,4 
Average 
monthly 
nominal 
salary of one employee, UAH 
3476 
4195 
5070 
7104 
8865 
10497 
302,0 
Real wages,% 
93,5 
79,8 
78,9 
119,1 
112,5 
109,8 
117,4 
Wage arrears, UAH mln 
2436,8 1880,8 
2004 
2368,4 2645,1 3034,4 
124,5 
Exports of goods, billion dollars 
USA 
53,9 
38,1 
36,4 
43,3 
47,3 
50,1 
92,9 
Imports of goods, billion dollars 
USA 
54,4 
37,5 
39,2 
49,6 
57,2 
60,8 
111,8 
Balance (+, -), billion dollars 
USA 
-0,5 
0,6 
-2,9 
-6,3 
-9,9 
-10,7 
2140,0 
Note: * here and in the future – excluding the temporarily occupied territory of the Autonomous 
Republic of Crimea and the temporarily occupied territories in Donetsk and Luhansk regions. 
Source: systematized and calculated by the author based on [4] 
Thus, among the main reforms, the introduction of a flexible exchange rate, fiscal 
consolidation, improvement of the public procurement system and Public Investment 

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Management, stabilization of the banking sector, reform in the field of energy supply 
pricing, personalization of social support, simplification of business conditions and the 
introduction of a number of anti-corruption tools had the greatest impact on the 
domestic market. 
The association agreement with the EU ratified by Ukraine in 2014 [3], including 
the provisions on the creation of a free trade zone [5], which began to operate in January 
2016, expanded the possibilities of reforming the Ukrainian market, modernizing trade 
relations and economic development, creating conditions for the harmonization of 
standards of Ukraine and the EU in key areas. The tools for this were the harmonization 
of Ukrainian laws, norms and standards with those in force in the EU in various market 
sectors, as well as the opening of markets by gradually providing duty-free access 
within quotas. 
For industrial goods, liberalization consists in the abolition of import duties on 
most goods (82.6% – Ukraine and 91.8% – the EU), for agricultural products, duties 
were abolished on 35.2% of tariff lines by Ukraine and 83.1% – by the European 
Union. Transition periods of up to 7 years were introduced for the remaining 
commodity items – 52% of tariff lines, partial liberalization was introduced for 9.8%, 
and duty – free tariff quotas were introduced for 3.0%. For sensitive sectors, the Free 
Trade Zone provides Ukrainian producers with time to adapt to a highly competitive 
environment, and consumers with a greater choice of goods at lower prices. Regarding 
non-tariff barriers to trade, Ukraine has incorporated the fundamental WTO rules on 
the Prohibition of import and export restrictions, freedom to establish business 
activities, and market expansion for a number of key sectors, which has become a 
prerequisite for further liberalization, transparency and legal clarity for EU investments 
in Ukraine. 
Thanks to the creation of a deep and comprehensive free trade area with the EU, 
Ukraine's foreign trade volumes are growing annually (Table 2) and despite the 
negative balance, its indicator is gradually normalizing. 

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