The economic potential of Ukraine: the significance of the Black Sea corridor.

During the Ukrainian breakfast at the Forum in Davos, Ukrainian Minister of Economy Yulia Svyrydenko made this announcement.

Export Capacity of Ukraine

Ukraine is restoring its economic potential faster than anticipated. After a significant GDP decline of 30% in 2022, the country recorded a growth of 5% in 2023 and 3.6% in 2024. Thus, the primary goal for the future is to attract investments, particularly from American businesses, as this will enhance stability and further integration into the global economy.

"We opened a corridor, and exports have increased, with a 15.2% rise compared to last year. When we talk about the Ukrainian economy, it is vital for us to attract business. In economic terms, we are performing better than the Russian economy,” noted Yulia Svyrydenko.

The minister also urged the business community to engage more actively in dialogue with the government and emphasized that to successfully attract investors, Ukraine requires security guarantees and strengthened international sanctions against the aggressor.

"Businesses are optimistic, as many experts believe that the active phase of the war may conclude this year,” the official concluded.

Recall that the President of the American Chamber of Commerce in Ukraine, Andriy Gunder, shared during a panel discussion at the Ukrainian House in Davos how global companies are operating during the war in Ukraine.

We also reported on how much Ukraine has earned from agricultural product exports.