As its key trade partner, the European Union received 37.1% of total exports in 2019, whereas Russia accounted for only 10%, a dramatic decrease from 29% in 2013. Machinery and manufacturing’s share in total exports decreased in 2014‑19 mainly due to trade restrictions imposed by Russia in 2013‑15. The share of steel and non-ferrous metals in total exports declined about twofold in recent years, to 21.7% in 2019, but the share of agricultural and food industry products reached 48% according to National Bank of Ukraine statistics. After sharp currency devaluation in 2014-15, per-capita GDP declined in 2018 to USD 3 095 (in 2018 USD) according to the World Bank. Nominal gross domestic product (GDP) was UAH 3 559 billion in 2018 (USD 130.8 billion in 2018 USD). Ukraine’s economy remained open and export-oriented, and it joined the World Trade Organization in 2008. Ukraine experienced a long period of very strong economic growth in 2000-07, owing to low gas prices, a strong national currency (the hryvnia ) and high foreign steel demand and prices. It is also the country that transits the most natural gas in the world, playing a key role in delivering Russian gas to European markets. With its considerable population and high energy consumption, it is one of Europe’s largest energy markets. Located at the crossroads of the European Union, the Russian Federation (Russia), and the Black Sea and Caspian regions, Ukraine has abundant mineral resources including oil, natural gas and coal, and great hydro and biomass potential. Ukraine has a population of 41.9 million 1 and at 603 549 square kilometres (km 2) is the second-largest country in Europe by area.
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