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In 1992, Ukraine became a member of the International Monetary Fund and the World Bank. It is a member of the EBRD but not a member of the World Trade Organization (WTO). Ukraine applied for membership in the WTO in 1995. Progress on its application had been slow but picked up momentum in 2006. The government has made accession to the WTO a priority in 2007.
In 1992, Ukraine became a member of the International Monetary Fund and the World Bank. It is a member of the EBRD but not a member of the World Trade Organization (WTO). Ukraine applied for membership in the WTO in 1995. Progress on its application had been slow but picked up momentum in 2006. The government has made accession to the WTO a priority in 2007.
===Economic data===
Ukraine is classified as a lower middle-income nation, evolving into a post-soviet developing economy.
Approximate economic statistics are as follows:
* Ukraine's GDP is $103 billion ($103,000,000,000), and has been growing at a rate of 6% fairly consistently.
* Per capita GDP is $2,200, with per capita purchasing power at $7,700.
* Foreign debt is 7% of GDP, and foreign investment is 2% of GDP.
* Average monthly salary is 200 euros per month.
* Commercial prime lending rate is 15%.
* The inflation rate is currently 10%.
The Ukrainian currency is the hryvnia (worth about 20 cents, in $USD), which was introduced 1996 to stabilize runaway inflation (and is currently trading at 5:1 for United States dollars, and at 6:1 for European Union euros).
Taxation rates are as follows:
* Personal income tax is 15%.
* Corporate income tax is 25%.
* Value-added tax (VAT) is 20%.
* Social insurance tax is 30%.
Import/export goods include:
* Metals (35%)
* Machinery (25%)
* Fuel & chemicals (10%)
* Agricultural (10%)
* Other (20%)
Mining includes fuel ores of coal, oil, and natural gas, and metal ores of iron, manganese, titanium, magnesium, nickel, and mercury.
Major trade partners are Russia (25%), then about 5% each for [[Germany]], [[Poland]], Italy, [[Turkey]], and [[China]], and others.
===Environmental Issues===
===Environmental Issues===
Ukraine also has established a Ministry of Environment and has introduced a pollution fee system, which levies taxes on air and water emissions and solid waste disposal. The resulting revenues are channeled to environmental protection activities, but enforcement of this pollution fee system is lax. Ukraine ratified the Kyoto Protocol in April 2004.
Ukraine also has established a Ministry of Environment and has introduced a pollution fee system, which levies taxes on air and water emissions and solid waste disposal. The resulting revenues are channeled to environmental protection activities, but enforcement of this pollution fee system is lax. Ukraine ratified the Kyoto Protocol in April 2004.
Construction of a shipping canal through a UN-protected core biosphere reserve in the Danube Delta, which began in May 2004, is an environmental issue of international interest.
Construction of a shipping canal through a UN-protected core biosphere reserve in the Danube Delta, which began in May 2004, is an environmental issue of international interest.
==History==
==History==