The hryvnia (Ukrainian гривня) has been the national currency of Ukraine since 1996 when it replaced the coupon (or karbovanets), the temporary currency used after Ukraine left the Soviet Union and the ruble zone. ... CIS is an abbreviation of: Commonwealth of Independent States Canadian Interuniversity Sport Contact Image Sensor CompuServe Information Service Chinese International School Confederacy of Independent Systems (Star Wars) Continuous injection system Communication Information Services Card Information Structure Cisalpino See also uses of the word cis. ... : GUUAM grouping : The rest of the CIS. GU(U)AM (Cyrillic: ГУ(У)АМ) is a regional organization of five CIS states: Georgia, Ukraine, Uzbekistan, Azerbaijan, and Moldova. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... The word billion and its equivalents in other languages refer to one of two different numbers. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... The poverty line is the level of income below which one cannot afford to purchase all the resources one requires to live. ... 2003(MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 1996 is a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... Dorothea Langes Migrant Mother depicts destitute pea pickers in California during the Great Depression. ... Ilo may refer to: Ilo, a port in southern Peru Ilo, an artist on the Icelandic Bad Taste record label Ilo, the Estonian goddess of feasts This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... Coal is a fossil fuel extracted from the ground by deep mining, coal mining (open-pit mining or strip mining). ... Transmission lines in Lund, Sweden Electric power, often known as power or electricity, involves the production and delivery of electrical energy in sufficient quantities to operate domestic appliances, office equipment, industrial machinery and provide sufficient energy for both domestic and commercial lighting, heating, cooking and industrial processes. ... A chemical substance is any material substance used in or obtained by a process in chemistry: A chemical compound is a substance consisting of two or more chemical elements that are chemically combined in fixed proportions. ... Food processing is the methods and techniques used to transform raw ingredients into food for consumption by humans. ... A sugar is a carbohydrate which is sweet to taste. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2003(MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... FerrLink titleMedia:Example. ... For the workstation, see SGI Fuel. ... Petroleum products are useful materials derived from crude oil (petroleum) as it is processed in oil refineries. ... A chemical substance is any material substance used in or obtained by a process in chemistry: A chemical compound is a substance consisting of two or more chemical elements that are chemically combined in fixed proportions. ... A machine is any mechanical or electrical device that transmits or modifies energy to perform or assist in the performance of tasks. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2003(MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... A machine is any mechanical or electrical device that transmits or modifies energy to perform or assist in the performance of tasks. ... This page discusses common devices known as tools, for other meanings see Tool (disambiguation) Modern hammer A tool is, among other things, a device that provides a mechanical or mental advantage in accomplishing a task. ... A chemical substance is any material substance used in or obtained by a process in chemistry: A chemical compound is a substance consisting of two or more chemical elements that are chemically combined in fixed proportions. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ... 1998 is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ...

Overview

Ukraine has many of the components of a major European economy -- rich farmlands, a well-developed industrial base, highly trained labour, and a good education system. At present, however, the economy remains in poor condition. While Ukraine registered positive economic growth starting from 2000, this came on the heels of 8 straight years of sharp economic decline. As a result, the standard of living for most citizens has declined more than 50% since the early 1990s, leading to widespread poverty. The macro economy is stable, with the hyperinflation of earlier in the decade having been tamed. Ukraine's currency, the hryvnia, was introduced in September 1996, and has remained fairly stable. The economy started growing in 2000, and growth has continued. GDP in 2000 showed strong export-based growth of 6% - the first growth since independence - and industrial production grew 12.9%. The economy continued to expand in 2001 as real GDP rose 9% and industrial output grew by over 14%. Growth of 4.6% in 2002 was more moderate, in part a reflection of faltering growth in the developed world. In general, growth has been undergirded by strong domestic demand, low inflation, and solid consumer and investor confidence. Growth was a sturdy 9.3% in 2003 and a remarkable 12% in 2004, despite a loss of momentum in needed economic reforms. This article is about the continent. ... In classical economics and all micro-economics labour is one of four factors of production, the others being land, capital and enterprise. ... This article is about the year 2000. ... // Events and trends The 1990s are generally classified as having moved slightly away from the more conservative 1980s, but otherwise retaining the same mindset. ... A boy from an East Cipinang trash dump slum in Jakarta, Indonesia shows his find. ... A 1,000,000,000 (1 billion) Mark banknote, issued in Bavaria/Germany during the hyperinflation of 1923 (http://www. ... The hryvnia (Ukrainian гривня) has been the national currency of Ukraine since 1996 when it replaced the coupon (or karbovanets), the temporary currency used after Ukraine left the Soviet Union and the ruble zone. ... 1996 is a leap year starting on Monday of the Gregorian calendar, and was designated the International Year for the Eradication of Poverty. ... 2001: A Space Odyssey. ... 2002(MMII) is a common year starting on Tuesday of the Gregorian calendar. ... 2003(MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... 2004(MMIV) is a leap year starting on Thursday of the Gregorian calendar. ...

Ukraine is rich in natural resources. It has a major ferrous metal industry, producing cast iron, steel, and steel pipe, and its chemical industry produces coke, mineral fertilizers, and sulfuric acid. Manufactured goods include metallurgical equipment, diesel locomotives, and tractors. It also is a major producer of grain and sugar and possesses a broad industrial base, including much of the former USSR's space industry. Although oil reserves are largely exhausted, it has important energy sources, such as coal and natural gas, and large mineral deposits. Cast iron usually refers to grey cast iron, but can mean any of a group of iron-based alloys containing more than 2% carbon (alloys with less carbon are carbon steel by definition). ... Steel is a metal alloy whose major component is iron, with carbon being the primary alloying material. ... Coke is a solid carbonaceous residue derived from low-ash, low-sulfur bituminous coal from which the volatile constituents (including water, coal-gas and coal-tar) are driven off by baking in an airless oven at temperatures as high as 1,000 degrees Celsius so that the fixed carbon and... Sulfuric acid (British English: sulphuric acid), H2SO4, is a strong mineral acid. ... Great Western Railway No. ... A sugar is a carbohydrate which is sweet to taste. ... Oil is a generic term for organic liquids that are not miscible with water. ... Coal is a fossil fuel extracted from the ground by deep mining, coal mining (open-pit mining or strip mining). ... Natural gas (commonly refered to as gas in many countries, but note that this is also American and Canadian slang for gasoline) is a gaseous fossil fuel consisting primarily of methane. ...

Ukraine encourages foreign trade and investment. The parliament has approved a foreign investment law allowing Westerners to purchase businesses and property, to repatriate revenue and profits, and to receive compensation in the event that property is nationalized by a future government. However, complex laws and regulations, poor corporate governance, weak enforcement of contract law by courts, and corruption all continue to stymie large-scale foreign direct investment in Ukraine. While there is a functioning and fairly well-regulated stock market, the lack of protection for minority shareholder rights severely restricts portfolio investment activities. Total foreign direct investment in Ukraine is approximately $4.9 billion (4.9 G$) as of October 2002, which, at $101 per capita, is still one of the lowest figures in the region. Corporate governance is the method by which a corporation is directed, administered or controlled. ... The New York Stock Exchange The stock market is the market for the trading of company stock, both those securities listed on a stock exchange as well as those only traded privately. ... The word billion and its equivalents in other languages refer to one of two different numbers. ... Per capita is a Latin phrase meaning for each head. ...

Most Ukrainian trade is still with countries of the former Soviet Union, principally Russia. An overcrowded world steel market threatens prospects for Ukraine's principal exports of non-agricultural goods such as ferrous metals and other steel products. Although exports of machinery and machine tools are on the rise, it is not clear if the rate of increase is large enough to make up for probable declines in steel exports, which today account for 46% of the country's overall exports. Ukraine imports 90% of its oil and most of its natural gas.

Russia ranks as Ukraine's principal supplier of oil, and Russian firms now own and/or operate the majority of Ukraine's refining capacity. Natural gas imports come from Russia--which delivers natural gas as a barter payment for Ukraine's role in transporting Russian gas to western Europe-- and Turkmenistan, from which Ukraine purchases natural gas for a combination of cash and barter. Although Ukraine's long-running dispute with Russia over about $1.4 billion in arrears on past gas sales appeared to have been solved through a complex repayment agreement involving Eurobonds to be issued by Ukraine's national oil and gas monopoly (NaftoHaz Ukrainy) to Russia's Gazprom, Russia has not yet accepted the bonds, so the issue remains open. Reform of the inefficient and opaque energy sector is a major objective of the International Monetary Fund (IMF) and World Bank programs with Ukraine. In economics, a monopoly (from the Greek monos, one + polein, to sell) is defined as a persistent market situation where there is only one provider of a kind of product or service. ... Gazprom (russ. ... The flag of the International Monetary Fund (IMF) The International Monetary Fund (IMF) is the international organization entrusted with overseeing the global financial system by monitoring foreign exchange rates and balance of payments, as well as offering technical and financial assistance when asked. ... Logo of the World Bank The International Bank for Reconstruction and Development (IBRD, in Romance languages: BIRD), better known as the World Bank, is an international organization whose original mission was to finance the reconstruction of nations devastated by WWII. Now, its mission has expanded to fight poverty by means...

The IMF approved a $2.2 billion Extended Fund Facility (EFF) with Ukraine in September 1998. In July 1999, the 3-year program was increased to $2.6 billion. Ukraine's failure to meet monetary targets and/or structural reform commitments caused the EFF to either be suspended or disbursements delayed on several occasions. The last EFF disbursement was made in September 2001. Ukraine met most monetary targets for the EFF disbursement due in early 2002; however, the tranche was not disbursed due to the accumulation of a large amount of VAT refund arrears to Ukrainian exporters which amounted to a hidden budget deficit. The EFF expired in September 2002, and the Ukrainian Government and IMF began discussions in October 2002 on the possibility and form of future programs. Value added tax (VAT) is a sales tax levied on the sale of goods and services. ...

In 1992, Ukraine became a member of the IMF and the World Bank. It is a member of the European Bank for Reconstruction and Development but not a member of the General Agreement on Tariffs and Trade/World Trade Organization (WTO). While Ukraine applied for WTO membership, its accession process was stalled for several years. In 2001, the government took steps to reinvigorate the process; however, there was less concrete progress in 2002. The WTO Working Party on Ukraine met in June 2002. The government's stated goal is to accede to the WTO by the end of 2004. The European Bank for Reconstruction and Development (EBRD) was founded in 1991 to promote private and entrepreneurial initiatives in the countries of central and eastern Europe and the Commonwealth of Independent States (CIS). ... For other uses of the initials WTO, see WTO (disambiguation). ...

Environmental Issues

Ukraine is interested in cooperating on regional environmental issues. Conservation of natural resources is a stated high priority, although implementation suffers from a lack of financial resources. Ukraine established its first nature preserve, Askanyia-Nova, in 1921 and has a program to breed endangered species. 1921 was a common year starting on Saturday (see link for calendar). ... The American bison numbered as few as 750 in 1890 due to extreme overhunting. ...

Ukraine has significant environmental problems, especially those resulting from the Chornobyl nuclear power plant disaster in 1986 and from industrial pollution. In accordance with its previously announced plans, Ukraine permanently closed the Chornobyl Atomic Energy Station in December of 2000. Unfortunately, in November of 2001, Ukraine withdrew an application it had made to the EBRD for funding to complete two new reactor units to compensate for the energy once produced by Chornobyl. Ukrainian concern over reform conditions attached to the loan--particularly tariff increases needed to ensure loan repayment--led the Ukrainian Government to withdraw the application on the day the EBRD Board was to have considered final approval. Work on the so-called "object shelter" to permanently entomb the reactor where the world's worst nuclear accident occurred has been slower than anticipated but continues. Design work as well as structural improvements to the "sarcophagus" erected by the Soviet Union are largely complete, and construction on the new shelter is scheduled to begin in 2004. The nuclear power plant at Chernobyl prior to the completion of the sarcophagus. ... 1986 is a common year starting on Wednesday of the Gregorian calendar. ... The European Bank for Reconstruction and Development (EBRD) was founded in 1991 to promote private and entrepreneurial initiatives in the countries of central and eastern Europe and the Commonwealth of Independent States (CIS). ...

Ukraine also has established a Ministry of Environment and has introduced a pollution fee system that levies taxes on air and water emissions and solid waste disposal. The resulting revenues are channelled to environmental protection activities, but enforcement of this pollution fee system is lax. A tax is an involuntary fee paid by individuals or businesses to a government. ... Waste management is literally the process of managing waste materials (normally those produced as a result of human activities). ...

Miscellaneous data

Household income or consumption by percentage share:

• lowest 10%: 3.7%
• highest 10%: 23.2% (1999)

Industrial production growth rate: 15.8% (2003 est.)

Electricity:

• production: 180 TWh (2003)
• consumption: 132 TWh (2003)
• export: 1.2 TWh (2003)
• import: 0 TWh (2003)

Electricity - production by source: To help compare different orders of magnitude we list here energies between 1017 joules and 1018 joules. ... The terawatt hour (TW·h) is a unit for measuring energy. ...

• fossil fuel: 48.6%
• hydro: 7.9%
• nuclear: 43.5%
• other: 0% (2001)

note: according to Energoatom of Ukraine nuclear power made up over 53% of total electricity production during the last year This article is about power derived from nuclear reactions. ...

Oil:

• production: 72,000 barrel/day (2003 est.)
• consumption: 303,000 barrel/day (2003 est.)
• exports: NA
• imports: NA
• proved reserves: 395 million barrel (9 November 2004)

Natural gas:

• production: 19.6 billion m³ (2003 est.)
• consumption: 79.86 billion m³ (2003 est.)
• exports: 5.8 billion m³ (2003 est.)
• imports: 60.4 billion m³ (2003 est.)
• proved reserves: 560.7 billion m³ (9 November 2004)

Agriculture - products: grain, sugar beets, sunflower seeds, vegetables; beef, milk

Exchange rates: hryvnia per US$1 - 5.33 (May 2004), 5.30 (October 2002), 5.59 (February 2000), 5.3811 (January 2000), 4.1304 (1999), 2.4495 (1998), 1.8617 (1997), 1.8295 (1996), 1.4731 (1995)

See also

• Ukraine
• Economy of Europe
• Economy of Russia