Экономические науки/ 9.Экономика промышленности.

Савченко А. Е.

Научный руководитель: ассистент кафедры иностранных языков

Анисимова Светлана Анатольевна

Донецкий национальный университет экономики и торговли имени

Михаила Туган - Барановского, Украина

Business Opportunities and Trade Industries in Ukraine

Purpose. I chose this theme because it is actual in our time. Ukraine is a country with large business opportunities and trade industries. It has a wealthy supply of agricultural products and oil that boosts the economy of the country. The main agricultural products produced by Ukraine are grain, sugar beets, sunflower seeds, vegetables, beef and milk. The main industries are coal, electric power, ferrous and non ferrous metals, machinery and transport equipment, chemicals, and food processing, especially sugar.

The import and export of goods plays a huge role in Ukraine's favorable economy figures. Ukraine's main import partners are Russia, Germany and Turkmenistan and their main export partners are Russia, Germany, Turkey, Italy, and the United States. The main import commodities of Ukraine are energy, machinery, equipment and chemicals and the main export commodities are ferrous and nonferrous metals, fuel and petroleum products, chemicals, machinery, transport equipment and food products.

The main exports from Ukraine are ferrous and nonferrous metals, chemicals, machinery, fuel and petroleum products, transport equipment and food products. Currently the country's gross domestic product is an estimated 81.4 billion. Some 34.29 billion was made from Ukrainian exports last year alone. Currently Ukraine’s main export partners are Russia, Germany, Turkey, Italy and the USA.

As things stand, Ukraine is seeing a lot of financial gain from exports. The country has immense agricultural, mineral and industrial resources which it continues to draw on and profit from. Despite suffering eight years of economic decline, Ukraine has emerged as a country of immense economical importance. Since the turn of the century the country's economic growth averaged 7.4% a year, but this dropped to about 2.6% last year. The high rate of poverty has begun to drop as personal incomes continue to rise. Ukraine's currency has remained fairly stable since its introduction in 1996 and, all in all, the country’s economy has improved in leaps and bounds. The money in Ukraine may sound peculiar to foreigners, but it works in much the same was as the currency of most other countries. It is necessary to exchange your currency into UAH in order to get about the country effectively. Ukrainian money can be imported up to a limit of UAH1000 and exported up to a limit of UAH10 000 which makes it quite easy to get in and out of the country with money. If you wish to import foreign currency there is a US$10,000 limit as well as a US$5000 export limit. If you need to exceed any of these amounts, special permission must be obtained.

Ukrainian exports have certainly helped the country’s economy to stabilize over the past few years. Besides the country’s major exports mentioned above, the country is involved in many spheres of commerce. Crop farming, timber harvesting, coal, ironstone, complex ore and mineral deposit mining are major contributors to the country’s GDP. Grain, sugar and sunflower seeds are the main agricultural yields. Besides metals and oil products the country is also involved in producing coke, fertilizer, airplanes, turbines, metallurgical equipment, diesel locomotives and tractors. Ukraine also imports energy, mineral fuel, oil, machinery and parts, transportation equipment, chemicals, paper and textiles.

Ukraine's economic growth has been very stable over the few past years, with an average GDP growth rate of 12%. The GDP per capita was $6,300 in 2004, the GDP was $299,1 billion, and the inflation rate was 12%.

Ukraine's previously unstable political situation caused various problems for the economy. When Victor Yushchenko came into power several reforms took place and Ukraine's economy grew some 12.1% in the year 2004. Unfortunately high oil prices as well as an increase in inflation caused the economy of Ukraine to slow down in 2005.

Ukraine, the “breadbasket of the Soviet Union” is known as a major producer of wheat. Important crops in Ukraine include rye, flax, corn, barley, sugar beets, sunflowers and potatoes. Ukraine also has a large industrial concentration due to the many raw materials in the country as well as power resources. Materials which come out of the region are iron, manganese, coal, anthracite, aluminum, mercury, nickel, natural gas, oil, zinc, titanium and bauxite. Kharkiv, Donetsk, Luhansk, Dnipropetrovsk, Zaporzhizhya, Mariupol and Makiyivka are major industrial hubs in Ukraine whilst Vinnytsya and Zhytomyr are important agricultural locations. Industrial products from Ukraine include: steel, tractors, machinery, building materials, chemicals, consumer goods and fertilizers. The majority of Ukraine's trading takes place with Russia, Germany, Italy Belarus, China and Turkmenistan.

Foreign investment is another important aspect of Ukraine's economy, but is sadly not operating as it should, and steps are being taken to improve opportunities for foreign investors. Whilst Ukraine's economy has undergone various developments, there is still work to be done. As projects are implemented, Ukraine can look forward to an improved economy in the years to come.

Conclusion. Ukraine has a well-developed industrial base and rich farmlands. The country also has quite a lot of mineral resources which are drawn on for both local use and exportation. Ukraine's main investment sectors are: services, textiles, chemicals, food and food related industries, machinery, and energy based projects.