Economy
Donetsk and the surrounding territories are heavily urbanised and agglomerated into conurbation. The workforce is heavily involved with heavy industry, especially coal mining. The city is an important center of heavy industry and coal mines in the Donets Basin (Donbass) and Ukraine. Directly under the city lie coal mines, which have recently seen an increase in mining accidents, the most recent accident being at the Zasyadko mine, which killed over 100 workers.
Donetsk's economy consists of about 200 industrial organizations that have a total production output of more than 50 billion hryvnias per year and more than 20,000 medium-small sized organizations. The city's coal mining industry comprises 17 coal mines and two concentrating mills; the metallurgy industry comprises 5 large metallurgical plants located throughout the city; the engineering market comprises 67 organizations, and the food industry — 32 organizations.
After the fall of the Soviet Union, Donetsk and other neighboring cities of the Donbass suffered heavily, as many factories were closed down and many inhabitants lost their jobs. However, in spite of the difficult economic situation in Ukraine, Donetsk is a developing city. About 412 thousand m² of living space, 7.9 km of gas networks, and 15.1 km of water supply networks were constructed in the city during 1998–2001.
The city also houses the "Donetsk" special economic zone. Donetsk currently has nine sister cities. The German city of Magdeburg had economic partnerships with Donetsk during 1962–1996.
The airline Donbassaero has its head office on the property of Donetsk International Airport.
In 2012, Donetsk was admitted as the best city for business in Ukraine by Forbes. Donetsk topped the rating in five indicators: human capital, the purchasing power of citizens, investment climate, economic stability, as well as infrastructure and comfort.
Read more about this topic: Donetsk
Famous quotes containing the word economy:
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
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—Jane Jacobs (b. 1916)