Economy of Ukraine
Ukraine uses a free market economy as their main economy. In their free market economy most business is privately owned. In recent years the economy of Ukraine has been sent on a unstable. They had the second largest economy in the Soviet Union. Until, 2008, when the GDP dropped nearly 16%, and because of that their inflation skyrocketed. Many economists expect the economy to bounce back stronger than ever.
Up until 2000, the Ukrainian government depended on their natural resources for their economic income. As their natural gas and oil deposits became depleted, other forms of economic income had taken their place. The mining industry in Ukraine produces huge income for Ukraine. Ukraine is actually one of the largest steel suppliers in the world. Agriculure is also critical for Ukraine. Ukraine produces mroe sunflower oil than any other country every year, and also is a top ten supplier of sugar and other non-essential farm products.
An interesting aspect of Ukraine's economy comes from the arms and weapons business. Ukraine is in the top ten for exporting weapons. Ukraine has one of the worlds largest sources for unrefined nuclear material, which is a huge source of their countries income.
Up until 2000, the Ukrainian government depended on their natural resources for their economic income. As their natural gas and oil deposits became depleted, other forms of economic income had taken their place. The mining industry in Ukraine produces huge income for Ukraine. Ukraine is actually one of the largest steel suppliers in the world. Agriculure is also critical for Ukraine. Ukraine produces mroe sunflower oil than any other country every year, and also is a top ten supplier of sugar and other non-essential farm products.
An interesting aspect of Ukraine's economy comes from the arms and weapons business. Ukraine is in the top ten for exporting weapons. Ukraine has one of the worlds largest sources for unrefined nuclear material, which is a huge source of their countries income.