Business peciliarities in Ukraine and Bealrus
Adding agro-food
and chemicals took the proportion to just over 70 percent. In 2008, the shares remained
quite similar, with agro-food increasing from 11 to 16 percent. Steel export unit value grew
more than four times between 2000 and 2008, while steel export volume grew only little
between 2000 and 2004, and then stagnated.
Missteps in Domestic Economy
With a windfall to rely on, Ukraine not only failed to diversify its exports but also
mismanaged its domestic economy. Since 1992 Ukraine has had just one year, 2002, with a
8
balanced budget. Income growth has been huge, and the ratio of domestic savings declined
as consumption boomed. Since 2001 annual growth in average monthly earnings has always
surpassed consumer price inflation, until 2008 quite frequently by more than 20 percentage
points and never much below that. Such income growth was supported by the country's high
annaabi.ee 
