As the war between Russia and Ukraine rages into its third year, the Ukrainian economy is occasionally mentioned. The United States has access to some of Ukraine’s valuable minerals. Ukraine spent $65 billion on weapons last year, according to the International Peace Research Institute (SIPRI). That is about one-third of Ukraine’s gross domestic product (GDP), which shows how small the total is. At $190 billion last year, it is slightly less than the GDP of Kansas, which ranks 33rd among all states based on that yardstick.
Ukraine’s GDP peaked in 2021 at about $200 billion. It dropped to $160 billion in 2022 and rose to $180 billion in 2023. Before the war, Ukraine’s economy was driven by metals, engineering, chemicals, and food. It was among the top global producers of wheat and corn, grown in one of the most productive agricultural regions in Europe. Production across these crops has decreased as much as 30%. Some of the farm areas have become battlefields.
Ukraine faces a GDP challenge, if and when the war ends. Its military spending will probably decline. It will take years, however, to rebuild much of its economy. According to The World Bank, nations have put together funds that total over $80 billion to revive Ukraine’s economy.
USA Facts reports that the largest contributor to the Kansas economy is manufacturing, followed by real estate and leasing. Information services are probably its fastest-growing sector. Kansas is also among the largest producers of corn and wheat.
The spread in productivity between Ukraine and Kansas is huge. Kansas has a population of about 3 million. Ukraine’s population is near 38 million.
How Much the U.S. Spends on Foreign Aid and Where It Goes
Top Gaining Stocks
Top Losing Stocks