Ukraine’s GDP crashed by 29.1 percent in year of Russian invasion

[beijingwalker]

Ukraine’s GDP crashed by 29.1 percent in year of Russian invasion​

BY WILHELMINE PREUSSEN
APRIL 13, 2023 11:54 AM

Ukraine’s economy plummeted in the year that Russia started its war in Ukraine, with the gross domestic product (GDP) falling by 29.1 percent in 2022, data from the state statistics service published late on Wednesday shows.

Ukraine’s export-led economy has been battered by the consequences of Moscow’s full-scale invasion in February 2022, with the highly restricted access to Black Sea ports hindering crucial metal and grain shipments and the infrastructure industry dramatically weakened.

In peacetime, Ukraine’s farmers supplied a tenth of the wheat and half the sunflower oil sold on world markets. Its shipments of grains and oilseeds through the Black Sea fell to zero last March, from 5.7 million metric tons in the previous month.

The Ukrainian government has predicted a slightly harder drop of 30 percent drop in earlier forecasts, with risks and uncertainties remaining high. It expects the economy to grow by 1 percent this year, expecting the situation in the transport, retail and construction sectors to improve.

The sharpest drop in Ukrainian GDP in the decade before 2022’s plunge was recorded in 2014, the year of the Russian invasion of Crimea, when GDP dropped by 9.8 percent.

Ukraine’s GDP crashed by 29.1 percent in year of Russian invasion

Ukraine’s export-led economy has been battered by the war Moscow launched in February 2022.

www.politico.eu

 

[beijingwalker]

 

[beijingwalker]

Two more years Ukraine's GDP will be shrinking to zero.

 

[Viet]

Two more years Ukraine's GDP will be shrinking to zero.

Nonsense
Ukraine exports grains, electricity, natural gas, sunflower oil in huge numbers.
It’s war. Gdp -30 percent is normal.
You think the Russians are better off? They pay a high price, too. If discounting oil and gas exports Russia GDP would be in the minus territory. Car production in Russia minus 99 percent. Most Russians now work for war machine, for the state. There isn’t much private enterprises.
The Russians can’t export grains because of sanctions on banks, insurance, shippings.

 

[beijingwalker]

You think the Russians are better off? They pay a high price, too. If discounting oil and gas exports Russia GDP would be in the minus territory.

Energy exports are always Russia's pillar in its economy, why taking them out?

The Russians can’t export grains because of sanctions on banks, insurance, shippings.

 

[Viet]

Energy exports are always Russia's pillar in its economy, why taking them out?


View attachment 924647
View attachment 924646

Yes of course it’s not fair if taking out Russia oil and gas exports. because they make up 2/3 of revenues. Grains export is small potato. Even though the Russians complain they can’t export grains in huge number that’s why they sabotage Ukraine grains export. Putin needs every dollar from export to finance the war. There is nothing left for housing, healthcare, education, and other things.

We will see how long he will let the Russian population go hungry to continue this war.

 

[beijingwalker]

Yes of course it’s not fair if taking out Russia oil and gas exports. because they make up 2/3 of revenues. Grains export is small potato. Even though the Russians complain they can’t export grains in huge number that’s why they sabotage Ukraine grains export. Putin needs every dollar from export to finance the war. There is nothing left for housing, healthcare, education, and other things.

We will see how long he will continue this war.

China is the world biggest energy importer, food importer, by a large margin, Russia fits the bill perfectly for China.

As long as Russia gets China's economic backing, its economy is safe and will be solid like a rock.

 

[beijingwalker]

Almost no European countries are faring better than Russia, so who are sanctioning who?

 

[Viet]

China is the world biggest energy importer, food importer, by a large margin, Russia fits the bill perfectly for China.

As long as Russia gets China's economic backing, its economy is safe and will be solid like a rock.

No, the Russians aren’t safe. They are finished. At best scenario they become a colony of India, at worst a colony of China. I sometimes think it’s a plot of Ccp. You get cheap fuels, cheap foods. Russia is wrecked. The west is weakened. Everybody now focus on Russian hooligans. Actually the west wants to focus on China. In economic terms Russia is a small tomato. Also, without nukes Russia is a small potato in military term.

 

[MeFishToo]

Almost no European countries are faring better than Russia, so who are sanctioning who?

View attachment 924656

Authoritarian countries are overstating their GDP growth. It is a well known fact - and that includes China.
The growth forecast by IMF is based on what they know, so the forecast of open democratic countries are somewhat reliable. But the forecast for Russia and China are based on numbers provided by the regime only. So they are not trust worthy.

 

[Imran Khan]

this was look stupid from day one both sides are losing .

 

[beijingwalker]

Authoritarian countries are overstating their GDP growth. It is a well known fact - and that includes China.
The growth forecast by IMF is based on what they know, so the forecast of open democratic countries are somewhat reliable. But the forecast for Russia and China are based on numbers provided by the regime only. So they are not trust worthy.

"Democratic countries like India and US don't"? you are just trying to cheat yourself, US GDP grows fast based on inflation and trade deficit, it's the fakest growth in the world.

 

[FuturePAF]

Nonsense
Ukraine exports grains, electricity, natural gas, sunflower oil in huge numbers.
It’s war. Gdp -30 percent is normal.
You think the Russians are better off? They pay a high price, too. If discounting oil and gas exports Russia GDP would be in the minus territory. Car production in Russia minus 99 percent. Most Russians now work for war machine, for the state. There isn’t much private enterprises.
The Russians can’t export grains because of sanctions on banks, insurance, shippings.

Not to mention many of russia’s oil and gas infrastructure is going to need a lot of technical assistance to keep going.

"Democratic countries like India and US don't"? you are just trying to cheat yourself, US GDP grows fast based on inflation and trade deficit, it's the fakest growth in the world.

Top US consumers and companies, on average, have a lot of wealth, which can be tapped for GDP growth. Debt to GDP ratio is still manageable.

 

[AViet]

Most achievements of Ukraina, including heavy ndustry, education, excellent raiways network, R&D institutions, weapons industry, was done during Soviet times. What they have done in last 30 years since 'democracy"?. I guess zero. Similar to Latin America and most other Eastern European countries, their GDP number may be higher, but the real standard of living and the level of development seem getting worse.

One example, Mexico has much higher GDP per capita than Belarus, but it is still clearly a third world country, while Belarus, well, depending on viewpoint, but no one can say it is a third world country.

I see the poorer East European countries are going Mexican way (and as even rich Western European country like the UK are slowly becoming a shithole, it should not be a surprise)

 

[etylo]

Authoritarian countries are overstating their GDP growth. It is a well known fact - and that includes China.
The growth forecast by IMF is based on what they know, so the forecast of open democratic countries are somewhat reliable. But the forecast for Russia and China are based on numbers provided by the regime only. So they are not trust worthy.

Delusional Europeans and Indians live in your fantasies, good for you.