Kharkiv - Economy

Economy

During the Soviet era Kharkiv was the capital of industrial production in Ukraine and the third largest centre of industry and commerce in the USSR. After the collapse of the Soviet Union the largely defence-systems-oriented industrial production of the city decreased significantly. In the early 2000s the industry started to recover and adapt to market economy needs. Now there are more than 380 industrial enterprises concentrated in the city, which have a total number of 150,000 employees. The enterprises form machine-building, electro-technologic, instrument-making, and energy conglomerates.

State-owned industrial giants, such as Turboatom and Elektrotyazhmash occupy 17% of the heavy power equipment construction (e.g., turbines) market worldwide. Multipurpose aircraft are produced by the Antonov aircraft manufacturing plant. The Malyshev factory produces not only armoured fighting vehicles, but also harvesters. Khartron is the leading designer of space and commercial control systems in Ukraine and the former CIS.

Kharkiv is also the headquarters of one of the largest Ukrainian banks, UkrSibbank, which has been part of the BNP Paribas group since December 2005.

Kharkiv markets:

  • Barabashovo is the largest in Ukraine and one of the largest markets in Europe.
  • Blagoveshinskiy.
  • Konniy (Horse Market).
  • Raiskiy (commonly Book gully).

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