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Minister says defence sector contributed 1.5 p.p. to 5% of GDP growth in 2023

Today, Ukraine's defence industry comprises 500 companies, of which 400 are privately owned.

Minister says defence sector contributed 1.5 p.p. to 5% of GDP growth in 2023
Oleksandr Kamyshin
Photo: Ministry of Strategic Industries

Ukraine's defence industry became one of the main drivers of the Ukrainian economy in 2023, contributing 1.5 percentage points of 5% of GDP growth, Minister of Strategic Industries of Ukraine Oleksandr Kamyshin said on the air of the news telethon, LIGA.net reports.

"I am glad that Ukrainian defence is becoming an important factor in economic growth. For example, last year, out of 5% economic growth, 1.5 percentage points were contributed by our defence industry," Kamyshin said.

Today, he said, Ukraine's defence industry comprises 500 companies, of which 400 are privately owned. Most public sector companies are part of the Ukrainian Defence Industry company.

When asked which weapon is the most difficult to produce, Kamyshin said it was ammunition.

"The most difficult is the production of artillery ammunition, because it is in short supply globally. Components for its production, namely explosives and gunpowder, are globally in short supply," he said.

The minister noted that there is shortage not only in Ukraine, but also in the European Union and the United States.

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