Ukrainian Economy in 2023: Key figures

Since March 2022, the Centre for Economic Strategy (CES), together with the German Economic Team (GET), has been preparing monthly reviews of Ukraine’s economy during a full-scale war. All notes can be found under the link.

You can also access the visualization of monthly highlights through our regularly updated Ukraine War Economy Tracker.

In the annual review the following happened in the Ukrainian economy:

• Macroeconomic trends: GDP stabilized, but still far from the same level as in 2021.
  
• Industry overview: Ukraine did not export electricity from November to January, overall steel production fell by 0.6%, exports of agricultural products by sea in December 2023 increased to 4 MT, a record high since the beginning of the full-scale invasion.
  
• Fiscal sector: local budget deficits, high tax revenues in December due to the recovery of imports and record high personal income tax.
  
• Monetary and fx policy: International reserves increased and hryvnia devalued by the end of 2023.Special guest: First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine Yuliia Svyrydenko.

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