Reorientation, Reform, Resilience
The Development of the Ukrainian Economy since 2014
Deutsche Fassung
Abstract
Ukraine’s gross domestic product doubled between 2015 and 2021. Russia’s large-scale attack led to a sharp decline in 2022, but since then, the economy has been recovering despite the damage caused by the war. Private consumption is an important driver, and foreign investment continues to flow into the country. A major problem is the shortage of skilled workers. Of central importance is the rapprochement with the EU, which is slowly opening its single market to Ukrainian goods. The effects of the war have been massive in all sectors, from agriculture to energy, and industry to services. This is also seen in the large trade deficit and the considerable need for external financing.
(11-12/2025, pp. 143–161)