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Economy of Ukraine vs United Arab Emirates compared: GDP & Debt

Updated on by Georank team

Ukraine has a GDP of $191B compared to $552B for the United Arab Emirates, ranking 57/197 and 27/197 by economy size, respectively.

Ukraine has $171B in government debt (89.7% of GDP), compared to $193B (34.9% of GDP) in the United Arab Emirates.

Ukraine vs United Arab Emirates GDP by year

Ukraine
United Arab Emirates
1x
Year GDP, current $
Ukraine UAE
2024 $190,741,262,415 $552,324,846,835
2023 $181,221,517,869 $522,622,191,967
2022 $161,989,520,721 $511,403,403,676
2021 $199,765,859,571 $422,441,388,700
2020 $156,617,722,013 $357,161,878,829
2019 $153,883,047,510 $433,926,208,305
2018 $130,891,088,294 $440,560,108,918
2017 $112,090,505,082 $403,365,010,211
2016 $93,355,869,404 $381,717,086,453
2015 $91,030,967,789 $381,973,042,886
2014 $133,503,871,862 $424,935,874,745
2013 $190,498,811,460 $409,632,675,289
2012 $182,591,753,828 $392,793,464,942
2011 $169,333,835,202 $368,881,143,635
2010 $141,209,170,427 $307,736,419,333
2009 $121,552,153,444 $253,547,358,747
2008 $188,110,390,660 $315,474,615,739
2007 $148,733,861,386 $257,916,133,424
2006 $111,884,752,475 $222,116,541,865
2005 $89,238,865,119 $180,617,467,965
2004 $67,220,154,164 $147,824,370,320
2003 $52,010,355,753 $124,346,358,067
2002 $43,956,163,612 $109,816,201,498
2001 $39,309,580,983 $103,311,640,572
2000 $32,375,083,935 $104,337,372,362
1999 $31,580,639,554 $84,445,473,111
1998 $41,882,523,345 $75,674,336,283
1997 $50,151,531,592 $78,839,008,445
1996 $44,558,831,005 $73,571,233,996
1995 $48,213,856,469 $65,743,666,576
1994 $52,549,580,265 $59,305,093,980
1993 $65,648,559,903 $55,625,170,253
1992 $73,945,908,384 $54,239,171,888
1991 $77,350,733,982 $51,552,165,622
1990 $81,393,558,423 $50,701,443,748
1989 $82,709,161,099 $41,464,995,914
1988 $74,703,517,903 $36,275,674,203
1987 $64,087,694,038 $36,384,908,744
1986 - $33,943,612,095
1985 - $40,603,650,232
1984 - $41,807,954,236
1983 - $42,803,323,345
1982 - $46,622,718,605
1981 - $49,333,424,135
1980 - $43,599,160,050
1979 - $31,225,659,621
1978 - $23,775,764,225
1977 - $24,871,775,165
1976 - $19,213,158,779
1975 - $14,720,728,249
1974 - $11,651,505,689
1973 - $4,231,243,616
1972 - $1,415,086,929
1971 - $939,893,600
1970 - $685,986,701

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/ukraine/united-arab-emirates | CC BY

GDP per capita in Ukraine vs United Arab Emirates by year

Ukraine
GDP per capita

GDP per capita, PPP
United Arab Emirates
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ukraine UAE
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,038 $18,550 $50,274 $79,229
2023 $4,803 $17,665 $49,851 $77,955
2022 $3,946 $14,770 $50,760 $75,072
2021 $4,510 $17,846 $44,119 $68,580
2020 $3,505 $15,541 $37,992 $66,791
2019 $3,423 $14,217 $45,939 $79,816
2018 $2,895 $12,555 $47,135 $77,446
2017 $2,467 $11,536 $43,734 $70,282
2016 $2,047 $10,865 $42,721 $69,987
2015 $1,988 $9,922 $44,910 $73,986
2014 $2,904 $10,494 $52,725 $87,478
2013 $4,130 $10,904 $53,247 $87,526
2012 $3,951 $9,552 $53,142 $89,198
2011 $3,657 $9,127 $51,922 $89,665
2010 $3,040 $8,453 $44,795 $85,120
2009 $2,607 $7,995 $37,803 $84,780
2008 $4,018 $9,324 $50,054 $94,628
2007 $3,160 $8,900 $45,855 $100,813
2006 $2,366 $7,971 $44,343 $106,814
2005 $1,875 $7,142 $38,719 $101,301
2004 $1,401 $6,663 $33,377 $98,661
2003 $1,076 $5,764 $29,660 $92,636
2002 $903 $5,123 $27,754 $88,467
2001 $800 $4,747 $27,745 $90,370
2000 $653 $4,228 $29,866 $92,899
1999 $632 $3,871 $25,856 $87,658
1998 $831 $3,794 $24,889 $90,229
1997 $987 $3,794 $27,983 $96,009
1996 $870 $3,812 $28,323 $94,620
1995 $933 $4,124 $27,003 $93,702
1994 $1,009 $4,565 $25,473 $89,959
1993 $1,254 $5,766 $25,033 $86,330
1992 $1,413 $6,568 $25,648 $87,509
1991 $1,483 $7,148 $25,691 $87,250
1990 $1,564 $7,591 $26,710 $88,455
1989 $1,593 - $23,167 -
1988 $1,444 - $21,570 -
1987 $1,244 - $23,113 -
1986 - - $23,132 -
1985 - - $29,468 -
1984 - - $32,012 -
1983 - - $34,650 -
1982 - - $39,972 -
1981 - - $44,854 -
1980 - - $42,925 -
1979 - - $34,238 -
1978 - - $29,379 -
1977 - - $35,020 -
1976 - - $31,197 -
1975 - - $27,117 -
1974 - - $23,823 -
1973 - - $9,696 -
1972 - - $3,675 -
1971 - - $2,805 -
1970 - - $2,394 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/ukraine/united-arab-emirates | CC BY

Ukraine's GDP per capita is $5,038, ranking 120/197, compared to $50,274 in the United Arab Emirates, ranking 24/197. Adjusted for purchasing power (GDP per capita PPP), Ukraine ranks 101st at $18,550, while the United Arab Emirates ranks 16th at $79,229.

Economic indicators

Ukraine UAE
Gross domestic product
$191B
2024
$552B
2024
GDP rank
57/197
2024
27/197
2024
GDP growth
2.91%
2023-2024
3.99%
2023-2024
GDP per capita
$5,038
2024
$50,274
2024
GDP per capita rank
120/197
2024
24/197
2024
GDP per capita, PPP
$18,550
2024
$79,229
2024
GDP per capita PPP rank
101/197
2024
16/197
2024
Government debt
$171B
2024
$193B
2024
Debt-to-GDP ratio
89.7%
2024
34.9%
2024
Government debt per person
$4,520
2024
$17,568
2024
Government debt per person rank
86/185
2024
36/185
2024
Average annual personal income after taxes
$5,370
2026
$40,522
2026
Market capitalization of domestic companies
$4.42B
2018
$1.05T
2024
Number of millionaires n/a
339,000
2025
Number of billionaires
7
2025
6
2025
Income share by richest 10%
21.7%
2020
20.5%
2018
Income share by poorest 10%
4.3%
2020
2.8%
2018
Government expenditure, % of GDP
71.3%
2024
21.4%
2024
Consumer prices inflation
6.5%
2023-2024
1.7%
2023-2024
Central bank interest rate
15.5%
2025
3.65%
2025
Unemployment rate
9.83%
2021
1.88%
2024
Population
40125599
11686438

Spending and national debt comparison by year

Ukraine
Spending

Debt
United Arab Emirates
Spending

Debt
1x
Year % of GDP
Ukraine UAE
Government spending Government debt Government spending Government debt
2024 71.3% 89.7% 21.4% 34.9%
2023 73.4% 81.2% 22.7% 31.9%
2022 65.4% 77.7% 22.7% 31.5%
2021 40.5% 48.9% 25.9% 35.7%
2020 45.6% 60.5% 30.5% 30.1%
2019 41.5% 50.5% 27.4% 25.8%
2018 41.9% 60.4% 25.9% 20.7%
2017 41.7% 71.6% 27.2% 21.2%
2016 40.8% 79.5% 31.7% 18.6%
2015 43% 79.3% 26.4% 15.6%
2014 44.8% 70.3% 31.4% 13.5%
2013 48.1% 40.5% 28.9% 15.3%
2012 49% 37.5% 27.8% 20.2%
2011 45.7% 36.9% 29.6% 20.4%
2010 49.2% 40.6% 30.4% 18.3%
2009 48.6% 35.4% 35% 21.1%
2008 47.1% 20.4% 22% 8.95%
2007 43.7% 12.3% 17.7% 8.89%
2006 44.6% 14.8% 15.6% 5.05%
2005 44.2% 17.7% 15.7% 4.48%
2004 41.6% 24.8% 17.7% 4.08%
2003 38.9% 29.4% 20% 3.33%
2002 37.9% 33.6% 21.3% 3.43%
2001 36.7% 36.7% 25.2% 2.69%
2000 35.5% 43.8% 21.8% 3.12%
1999 25.8% 59% 24.3% 4.73%
1998 37.1% 46.5% 25.8% 4.18%
1997 40.8% 28.9% 22.6% 2.86%
1996 36.9% 24.4% 27.6% 3.48%
1995 41.3% 30.2% 26.1% 5.06%
1994 - - 30.1% 5.58%
1993 - - 31.5% 6.01%
1992 - - 29.6% 5.31%
1991 - - 36% 4.97%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–1998, retrieved 2026-02-20).

GeoRank.org/economy/ukraine/united-arab-emirates | CC BY

In 2024, Ukraine's government spending was $136B, accounting for 71.3% of its GDP, while the United Arab Emirates spent $118B, or 21.4% of GDP.

Debt-to-GDP ratio is 89.7% in Ukraine and 34.9% in the United Arab Emirates, ranking 33/185 and 146/185, respectively.

Government deficit by year

Deficit/surplus
Ukraine

United Arab Emirates
1x
Year Deficit/surplus, % of GDP
Ukraine UAE
2024 -17.2% 6.41%
2023 -19.3% 5.82%
2022 -15.6% 9.8%
2021 -3.97% 3.96%
2020 -5.92% -2.42%
2019 -2.08% 2.5%
2018 -2.12% 3.65%
2017 -2.36% -0.16%
2016 -2.46% -2.95%
2015 -1.16% -6.35%
2014 -4.46% 1.74%
2013 -4.78% 7.99%
2012 -4.31% 8.59%
2011 -2.76% 5.05%
2010 -5.77% 0.52%
2009 -6.27% -6.13%
2008 -3.14% 17.6%
2007 -1.97% 17.1%
2006 -1.36% 20.2%
2005 -2.28% 16%
2004 -4.41% 6.4%
2003 -0.89% 2.35%
2002 -1.84% -1.24%
2001 -3.03% 1.21%
2000 -3.19% 10.7%
1999 4.95% 1.31%
1998 -2.69% 1%
1997 -5.37% 6.71%
1996 -3.09% 0.92%
1995 -4.72% 3.58%
1994 - -1.78%
1993 - -2.89%
1992 - 3.34%
1991 - 3.89%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/ukraine/united-arab-emirates | CC BY

In 2024, Ukraine's government deficit, the difference between spending and revenue, was $32.8B, equivalent to 17.2% of GDP. This compares to the United Arab Emirates' surplus of $35.4B, or 6.41% of GDP.

Over the past 30 years, Ukraine recorded a fiscal deficit in 29 of those years, while the United Arab Emirates ran a deficit in 6 years. On average, Ukraine posted an annual deficit equal to 4.45% of GDP, compared to surplus of 4.73% of GDP for the United Arab Emirates.

Inflation comparison by year

Inflation
Ukraine

United Arab Emirates
1x
Year Consumer prices inflation
Ukraine UAE
2024 6.5% 1.7%
2023 12.9% 1.6%
2022 20.2% 4.8%
2021 9.4% -0.1%
2020 2.7% -2.1%
2019 7.9% -1.9%
2018 10.9% 3.1%
2017 14.4% 2%
2016 13.9% 1.6%
2015 48.7% 4.1%
2014 12.1% 2.3%
2013 -0.3% 1.1%
2012 0.6% 0.7%
2011 8% 0.9%
2010 9.4% 0.9%
2009 15.9% -4.7%
2008 25.2% 12.3%
2007 12.8% 11.1%
2006 9.1% 9.3%
2005 13.5% 6.2%
2004 9% 5%
2003 5.2% 3.1%
2002 0.8% 2.9%
2001 12% 2.8%
2000 28.2% 1.3%
1999 22.7% 2.1%
1998 10.6% 2%
1997 15.9% 3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/ukraine/united-arab-emirates | CC BY

Over the past 28 years, Ukraine has recorded an average annual inflation rate of 12.8%, compared with 2.75% in the United Arab Emirates. In 2024, inflation was 6.5% in Ukraine and 1.7% in the United Arab Emirates.

Top exports between countries

Ukraine
Export category Export value
Processed food, beverages & tobacco $89.1M
Raw agricultural goods $56.6M
Animal & marine products $53.6M
Metals $23.2M
Machinery & equipment $22M
Raw materials & minerals $10.5M
Textiles & consumer goods $4.83M
Chemicals & pharma $3.79M
Wood & paper products $3.58M
Miscellaneous $249K
UAE
Export category Export value
Machinery & equipment $79M
Chemicals & pharma $19.8M
Textiles & consumer goods $12M
Raw agricultural goods $4.53M
Metals $3.76M
Miscellaneous $2.72M
Precious metals & jewellery $2.69M
Processed food, beverages & tobacco $1.56M
Raw materials & minerals $946K
Wood & paper products $515K

Balance of trade

Ukraine UAE
Current account balance
-$15.1B
2024
$80B
2024
Current account balance ranking
179/190
2024
9/190
2024
Current account balance, % of GDP
-7.94%
2024
+14.5%
2024
Goods imports
$72.3B
2024
$400B
2024
Goods exports
$39.3B
2024
$467B
2024
Service imports
$22.9B
2024
$117B
2024
Service exports
$17.3B
2024
$181B
2024
Imports of goods and services, % of GDP
48.3%
2024
92.2%
2023
Exports of goods and services, % of GDP
29.4%
2024
106.8%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Ukraine UAE
Economic freedom 54.1 71.9
Economic freedom ranking 135/197 29/197
Property rights 21.6 62.9
Government integrity 35 65.3
Judicial effectiveness 28.2 34.4
Tax burden 83.7 99.9
Government spending 0 85.1
Fiscal health 3.9 97.6
Business freedom 57.4 84.5
Labor freedom 46.9 63.2
Monetary freedom 65.7 81.2
Trade freedom 73 78.6
Investment freedom 35 50
Financial freedom 30 60

Economic freedom comparison by year

Ukraine
United Arab Emirates
1x
Year Economic freedom index
Ukraine UAE
2026 - 71.9
2025 - 71.6
2024 - 71.1
2023 - 70.9
2022 54.1 70.2
2021 56.2 76.9
2020 54.9 76.2
2019 52.3 77.6
2018 51.9 77.6
2017 48.1 76.9
2016 46.8 72.6
2015 46.9 72.4
2014 49.3 71.4
2013 46.3 71.1
2012 46.1 69.3
2011 45.8 67.8
2010 46.4 67.3
2009 48.8 64.7
2008 51 62.6
2007 51.5 62.6
2006 54.4 62.2
2005 55.8 65.2
2004 53.7 67.2
2003 51.1 73.4
2002 48.2 73.6
2001 48.5 74.9
2000 47.8 74.2
1999 43.7 71.5
1998 40.4 72.2
1997 43.5 71.9
1996 40.6 71.6
1995 39.9 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/ukraine/united-arab-emirates | CC BY

The Economic Freedom Index for Ukraine is 54.1, ranking 135/197, compared to 71.9 for the United Arab Emirates, ranking 29/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Ukraine UAE
Services, % of GDP
60.6%
2024
54.9%
2024
Industry, % of GDP
19%
2024
44.3%
2024
Agriculture, forestry, and fishing, % of GDP
7.11%
2024
0.77%
2024
GNI, Atlas method
$184B
2024
$566B
2024
GNI per capita, PPP
$18,560
2024
$81,530
2024
Total reserves including gold
$43.8B
2024
$238B
2024
Total reserves ranking
46/177
2024
14/177
2024
Net foreign direct investment
-$3.71B
2024
$31.5B
2024
Net inflows of foreign direct investment
$4.02B
2024
$45.6B
2024
Net outflows of foreign direct investment
$305M
2024
$77.2B
2024
Servicing debt to the IMF, % of GNI
5.42%
2024
n/a
Poverty at national poverty lines
23.2%
2020
19.5%
2020
Gross capital formation, % of GDP
18.6%
2024
26.6%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/ukraine/united-arab-emirates | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1998, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.