In his analytical video published on the Experts Club YouTube channel, Maxim Urakin, founder of the project and PhD in Economics, focuses on the key indicator of global macroeconomics – gross domestic product (GDP), which plays a central role in analyzing the economic well-being of countries. GDP is the total value of all goods and services produced in a country over a certain period of time. This indicator helps to assess how productive a country’s economy is and is an important indicator of its overall economic well-being.
Analyzing GDP dynamics on a global scale
According to Urakin, analyzing the last decades shows significant changes in the global economy.
“In the 1990s to 2000s, first of all, there was significant economic growth in countries such as the US and China, as well as in developing countries such as India. It was a time of economic prosperity for developed countries and a period of rapid growth for some emerging markets,” explained the founder of Experts Club.
But then the world economy was rocked by crises, including the global financial crisis of 2008 and the subsequent European debt crisis. These events, according to Expert Club, slowed global GDP growth and exposed the vulnerability of many economies previously considered promising.
“In recent years, we have faced new challenges, such as the COVID-19 pandemic, which led to a significant downturn in the global economy, and geopolitical tensions, including the war in Ukraine. These events have re-emphasized the interconnectedness and interdependence in the global economy,” said Urakin.
GDP and geopolitical changes
Urakin notes that in the context of geopolitics, GDP serves not only as a measure of economic development but also as an indicator of international influence.
“India, surpassing the UK, has become the fifth largest economy in the world, which emphasizes the shift of global economic forces to the Asian region. This is also confirmed by the fact that China, having overtaken the US in terms of purchasing power, has confirmed its status as a global economic power,” the economist emphasized.
Future trends
Analysis of global GDP dynamics shows that the global economy continues to recover from the pandemic, but geopolitical instability has a restraining effect on this growth. According to Maxim Urakin, it is important to monitor developments and adapt to changing conditions to ensure sustainable economic growth in the future. Ukraine, in this context, needs to focus on strengthening domestic political stability, restoring economic potential and continuing reforms to improve its post-war prospects and strengthen its position on the global stage.
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GDP (Gross Domestic Product) is the total market value of all final goods and services produced in a country over a given period of time (usually a year). It measures a country’s total output and economic activity, being one of the key indicators of its economic health.
Nominal GDP is an estimate of gross domestic product expressed in current market prices, not adjusted for inflation or deflation. This means that when measuring nominal GDP, current prices of goods and services are taken into account, which can lead to higher GDP when prices rise (inflation), even if actual output has not increased.
PPP (Purchasing Power Parity) GDP is a method of estimating GDP that takes into account differences in the cost of living and price level between countries. The PPP GDP calculation uses prices adjusted to reflect real purchasing power in different countries. This allows for a more accurate comparison of living standards and economic activity between countries because it takes into account differences in the cost of goods and services in different places.
Export of agricultural products during the marketing year, mln tons
Source: Open4Business.com.ua and experts.news
The Antimonopoly Committee of Ukraine (AMCU) has allowed Dnipro Agro Alliance LTD (Nicosia, Cyprus) to acquire a stake in the authorized capital of Kyivkombikorm Plant LLC.
According to the company’s Facebook post, this will provide Dnipro Agro Alliance LTD with more than 50% of the votes in the supreme governing body of Kyivkombikorm Plant.
Dnipro Agro Group is a vertically integrated group of companies focused on the production, storage and sale of grains and oilseeds. The agricultural holding cultivates 50.25 thousand hectares in Dnipro and Zaporizhzhia regions.
The group’s structure includes agricultural divisions of Vidrodzhennia LLC, Kamianske Agro LLC, Dniproagroalliance LLC, Agrofirma Vostok Agro LLC, and Peremoha LLC, which specialize in crop production. SC Dniprovsky LLC specializes in pig breeding and has a pig farm with 1.3 thousand heads.
The first company of the group, Dniproagroalliance, was founded in 2006 in the Dnipro region and specializes in crop production. The company employs about 1,000 people.
“DniproAgroGroup produces flour, bakery and confectionery products. The group includes Dnipro Bakery No. 5 with a capacity of 50 tons per day.
The total storage capacity of DniproAgroGroup’s grains and oilseeds is about 124 thousand tons.
Grain and oilseeds storage services are provided by Fisakivskyi and Bozhedarivskyi elevators, as well as Sinelnykove-Agro LLC (Zaporizhzhia and Dnipro regions).
According to the YouControl analytical system, the beneficiaries of the Dnipro Agro Alliance group of companies and co-founders of Dnipro Agro Group are Vasyl and Yevhen Astionov and Mykhailo Koshliak.
Kyiv Feed Mill LLC was registered in 2018 and is located in Brovary district of Kyiv region. The authorized capital is UAH 10,000.00. Previously, its beneficiaries were KyivAgro Poultry Farm LLC and Kyiv Poultry Farm Trading House LLC.
One of Ukraine’s largest grain market operators, Nibulon JV LLC (Mykolaiv), has been certified and granted the right to conduct humanitarian demining in the areas of Technical Survey, Manual Demining and War Zone Clearance, the grain trader’s press service reports.
“These certificates allow Nibulon sappers to carry out demining of Ukrainian land. At the same time, we continue to be certified in the process of “demining with the use of machines and mechanisms” to start clearing the land with the help of GCS-200 demining machines, obtained with the assistance of the German development bank DEG Impulse gGmbH, a subsidiary of DEG,” the agricultural holding said in a statement.
According to the report, Nibulon’s specialists have undergone a multi-level certification procedure at the Mine Action Center (MAC) under the Ministry of Defense of Ukraine. During the visit, representatives of the MAC checked the compliance of Nibulon sappers with the national legislation regarding the availability of the necessary documentation, equipment, including the equipment of an emergency medical vehicle, compliance with mine action processes and the competence of specialists.
“This is a very important moment for us, as certification required significant efforts from the entire team. Now, thanks to the hard work and help of our partners, Nibulon is ready to provide demining services to everyone at cost,” said Maksym Sovetkin, Head of Nibulon’s demining department.
At the same time, he noted that farmers are not ready to pay for demining services. Mr. Sovetkin pointed out the need for the government to enlist the support of donors and develop a transparent mechanism for compensating commercial players from the state to help farmers resume cultivating land and, accordingly, supply grain to world markets.
JV Nibulon LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, capacity for simultaneous storage of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries. In 2021, the grain trader exported the highest ever 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses due to Russia’s full-scale military invasion in 2022 exceeded $416 million.
Currently, the grain trader is operating at 32% of capacity, has created a special unit to clear agricultural land of mines, and was forced to move its headquarters from Mykolaiv to Kyiv.
In 2024, the production of oilseeds in Ukraine will increase by 19% compared to 2023 to 2.3 mln ha, which will be a record for the industry, APK-Inform news agency reported based on the results of the survey among farmers.
According to the survey, conducted in February-March 2024, 82% of the respondents, who grow soybeans, plan to keep the area under soybeans unchanged, and 16% intend to increase it. The increase will be due to the reduction of the area under winter crops, as well as sunflower or other spring crops.
The soybean area in 2024 may increase to 2.3 mln ha (+19% by 2023), which will be a new record for the industry. Previously, the maximum for this crop was 2.2 mln hectares in 2015, analysts predict.
They also expect the production of soybeans in Ukraine to reach a record level, which, according to preliminary estimates, could reach 6 mln tons, which is 17% higher than last year.
At the same time, according to experts, the area under sunflower is not likely to change significantly: 87% of the respondents who grow the crop plan to keep the area under it unchanged. Those who plan to reduce or increase the area under sunflower mostly reported that it will be at the expense of rapeseed.
“Our estimate of the sunflower acreage in 2024 is still 5.8 mln ha, which is almost at the level of 2023. Under favorable weather conditions, the oilseed harvest could reach 13.9 mln tonnes (+1% compared to 2023), which is still lower than the pre-war figure,” the analysts emphasized.
The area under rapeseed in 2024 is likely to decrease due to the dry autumn, which led some farmers to abandon the winter oilseed planting.
In the survey, 51% of respondents reported that winter rapeseed crops are in good or excellent condition, 43% – in satisfactory condition, and 5% – in poor condition.
The area under spring rapeseed may also increase in 2024 to the record level due to the price attractiveness of this oilseed, but the total area under winter and spring rapeseed, according to APK-Inform preliminary estimates, will decrease by 6%. This figure will still remain quite high compared to previous years, amounting to about 1.4 mln ha. The harvest of this oilseed may decline by 9% in 2024, to 4.2 mln tonnes, APK-Inform summarized.
For the first time since the beginning of the full-scale invasion, the best teacher in Ukraine will be honored – the annual national award Global Teacher Prize Ukraine has announced the start of collecting applications! The main winner will receive UAH 1 million for their own educational project and will go on a trip to the Global Teacher Prize.
The Global Teacher Prize Ukraine has been recognizing teachers who are changemakers since 2017. For the past two years, since the beginning of Russia’s full-scale invasion, the Prize has not chosen the country’s best teacher, focusing instead on documenting the stories of wartime teachers. This year, the Global Teacher Prize Ukraine returns to the format of a professional award for the best among the best.
The organizer of the award, Osvitoria, is looking for teachers who have made an outstanding contribution to the profession, students and society, and whose professional skills need to be recognized.
“The work of a teacher now requires not only professionalism, but also deep empathy, strength of spirit and dedication. Ukrainian teachers have repeatedly shown that no matter how scary and difficult the realities are, they will not be afraid and will not leave their jobs. And as true professionals, they not only “cope”, they make miracles happen, becoming a support for our children every day. The Global Teacher Prize Ukraine is a recognition of their tireless work, endurance and skill. We honor those who educate the next generation of Ukrainians, because the future of our country will depend on the foundation of values and meanings laid in schools,” says Zoya Lytvyn, head of the Osvitoria Union and founder of the Global Teacher Prize Ukraine.
The application process is open until July 8 on the Global Teacher Prize Ukraine website. The application can be filled out by the teacher himself or she can be nominated by friends, colleagues, students or their parents – there are no restrictions. The main winner will be determined by several expert groups in four stages, and his or her name will be announced at the award ceremony on October 5.
The main winner will receive UAH 1,000,000 for their own educational project and will go on a trip to the Global Teacher Prize.
Teachers will also be honored in several separate nominations, such as young teacher, teacher-innovator, Ukrainian choice, and others.
The general media partner of the Global Teacher Prize Ukraine is traditionally 1+1 media group. Kyivstar TV is the information partner of the award, a movie and TV platform.
Information note
The Global Teacher Prize Ukraine is an annual national award for teachers who are agents of educational change. The prize aims to recognize the achievements of teachers not only in relation to their students, but also to society, and to emphasize the importance of teachers in Ukraine. The National Prize was initiated in 2017 by the Osvitoria NGO after signing a memorandum with the Varkey GEMS Foundation, the founders of the Global Teacher Prize.
“Osvitoria” is a non-profit public union that has been helping to reform and develop education in Ukraine since 2013. It is the founder of the Global Teacher Prize Ukraine. More information on the website: https://osvitoria.org/
If you have any additional questions, please contact the press service of the NGO “Osvitoria” at: globalteacherprize@osvitoria.org
