The Economy of Ukraine
The Economy After the 2022 Invasion
GDP fell by roughly a third in 2022, ports were blockaded, millions fled, and the government relied on foreign aid to keep running.
The largest war in Europe since 1945.
Collapse
GDP fell about 29 per cent in 2022 according to official estimates.
People
Millions became refugees abroad, and many more were displaced within the country.
Ports
Black Sea ports were blockaded, until a corridor and new routes opened.
Finances
Aid from the EU, US and others funds much of the budget, while defence takes most spending.
A shut port
Grain that would have shipped from Odesa was stuck, then sent by rail and river.
Assuming the economy stopped entirely
Parts continued to function and adapt.
Key takeaways
- GDP fell around 29% in 2022.
- Millions fled.
- Ports were blockaded.
- Foreign aid keeps the state running.
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