Global GDP Growth: Overview
Real GDP is computed using prices from the base year adjusted for inflation. A measure of economic growth, real GDP changes demonstrate whether the economic activity has increased or decreased. The US, China, Japan, Germany, and India have the top five economies in the world in terms of real GDP. With a value of $12.7 trillion, China had the second-largest real GDP behind the US in 2021. Japan ranked third globally with a $6 trillion real GDP during the same period. The next two largest economies are Germany and India, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.
Ukraine Exports: Overview
According to Global Data, the value of Ukraine’s total exports decreased by 7.4% on an annual basis in 2020.
Cereal’s share of total exports has increased over the last four years, from 15.0% in 2017 to 19.1% in 2020. On the other hand, iron and steel’s share has decreased from 20.0% in 2017 to 15.6% in 2020. Animal and vegetable fat and oil exports witnessed an increase in share from 10.6% in 2017 to 11.7% in 2020. Ukraine’s cereals exports as a percentage of the world’s exports amounted to 9.7% in 2020, making the country the second largest exporter in the world. Since the beginning of the 2021/2022 marketing year, and as of September 10, 2021, Ukraine exported 10.29 million tons of grain and leguminous crops, which is an 11.7% rise over the same period the previous year.
Russia, China, Germany, Poland, and Belarus were Ukraine’s top five trading partners in 2020. They accounted for 40.15% of total trade (exports and imports).
Ukraine Exports as a % of GDP
Exports as a % of GDP of Ukraine was 42.8% in 2021, while Ukraine’s exports as a % of GDP decreased by 1.1% year on year basis in 2021. Between 2010-2021, the exports as a % of GDP in Ukraine decreased by 15.8%. The exports as a % of GDP were highest in the year 2015 (55.3%), and lowest in the year 2021 (42.8%).
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