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Background on Ukraine

Roughly the size of Texas, but with more than twice the population at approximately 46 million, Ukraine is located in Eastern Europe. Poland, Slovakia, Romania, and Moldova border to the west, Belarus to the north, Russia to the east, and the Black Sea to the south. It is 1-2 hour time difference with the rest of Europe and 2-3 hours air travel time to any major European city. It is the second largest country in Europe, by area, and the fifth largest by population. According to the World Bank Group, Ukraine has a 99.6% literacy rate. The capital city is Kyiv, with a population of approximately 3 million persons. Ukraine has several cities over or close to one million in population. As in many countries, the major tech centers are located around the centers of population and education; Kyiv, Kharkiv - in the east, Donetsk, Dniperpetrovsk and Zaporishnye in the southeast, Lviv in the west and Odessa in the south.

  • Size of Economy
    • At the end of 2005, Ukraine had the 32-nd largest economy in the world at about $300 billion dollars; it is projected that the end of 2007, Ukraine will have the 27-th largest economy.
    • Agriculture and heavy industry account for 55% of Ukraine's current GDP or approximately $165 billion dollars.
    • The Software Exports market in Ukraine was approximately $200 million in size employing less than 10,000 persons in 2005.
  •    Foreign Direct Investment
    • In 2006 Ukraine received over $10 billion in foreign direct investment:
      • Six billion in to its steel industry, with the purchase of the Kryvorizhstal mill by Mittal Steel, the world's largest steel mill.
      • The banking industry received $2 billion due to the purchase of Aval Bank by Raiffeisen
    • Through June of 2007, Ukraine has received $1.7 billion in FDI, with at least another $2 billion pending on the approval of the purchase of another Ukraine bank, Ukrsotsbank by the Italian bank, Banca Intesa.

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Ukraine Resources:
Ukrainian Embassy 3350 M Street, NW
Washington D.C. 20007
Tel: (202) 333-0606, 333-7507
Fax: (202) 333-0817
Ukrainian Consulate in Chicago 2247 W. Chicago Avenue
Chicago, IL 60622
Tel:  (312) 384-6632
Fax: (312) 642-4385
Ukrainian Consulate in New York 240 East 49th Str.
New York, NY 10017
Tel:  (212) 371-5690
Fax: (212) 371-5547
American Embassy in Ukraine    

 

 

 

 

 

Business Information:

The American Chamber of Commerce in Ukraine

Ukraine News:

The Kyiv Post - English language weekly newspaper.
Ukraine News - Daily news portal on Ukraine.
The Day - Daily news in Ukrainian/Russian, Weekly in English.
News from Ukraine - Daily Ukrainian news site, Ukrainian/Russian/English.
Ukraine business News - Daily news updates.

Cultural/Travel/General:

Lavra - Ukrainian Orthodox monastery founded in 1051 (Russian language).
Ukraine Info
Web Cam on Independence Square
Weather in Ukraine