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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132
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