Recently I wrote an article about Ukraine's GDP since collapse of Soviet Union.
In that post I promised to compare GDP of Ukraine versus Poland.
Why those two? They are neighboring countries, both of them have been under Iron Curtain, population is about the same size.
So few basic data about Ukraine:
- Population: 45.59 (fall from 51.89 in 1990)
- GDP 2012: 176.3 billion USD | GDP 1990: 81.46 billion USD
- GDP per capita 2012: 3.866 thousands USD | GDP per capita 1990: 1.569 thousands USD
Few data about Poland:
- Population: 38.54 ( 38.11 in 1990)
- GDP 2012: 489.8 billion USD | GDP 1990: 64.55
- GDP per capita 2012: 12.707 | GDP per capita 1990: 1.693 thousands USD
As we can see from data above, something went terribly wrong in Ukraine, since in the start position in 1990 year. Ukraine had greater GDP, the GDP per capita was approx the same as in Poland. What went wrong in Ukraine? I see there is reason to dig further, and in some of my next posts, I'll try to do DIY investigation with Ukraine's economic problems :)