Economics of the region: General Information

    Poltava region on the majority of indexes belongs to the leading regions of Ukraine.

    According to the territory, Poltava region occupies 28,8 thousand sq. km and takes the 7th place in Ukraine as well as exceeds the territory of more than 50 countries. It borders with Chernigiv and Sumy region in the in the North, Kharkiv region in the East, Dnipropetrovs’k and Kirovograd region in the South and in the West with Kyiv and Cherkasy region.

    Regional center is Poltava where resides more than 315, 000 people. The population of Poltava is constantly increasing due to internal migration of the village population and student from other regions.

Good geographical location, considerable deposits of minerals, allocation in forest-steppe natural region with auspicious soil and climate conditions, transport network are good prerequisites for the development of all economics branches of Poltava region.

    According to the economic structure Poltava region is  industrial.  In gross output of industrial and agricultural production an industrial share comprises app. 60%.

Among the regions of Ukraine, Poltava region is famous for its iron ore, fuel, machine-building and light industry and the agroindustrial complex with developed food industry, sugar production, grain growing, meat and milk cattle breeding. 

    The region specializes in oil and gas extraction, iron ore extraction, oil processing, production of lorries and railroad cars, diamond tools, stockinet, leather shoes, sophisticated clothes, butter, grain, sugar, confectionery etc.  

    Among the main enterprises of Poltava region are ‘Kryukivskyi carriage-building plant’, ‘Diesel locomotive repairs plant’, holding company ‘AutoKraz’, ‘Kremenchuk wheel manufacture plant’ etc. 

    Poltava region has all prerequisites for developing of different industrial branches. Nowadays in Poltava region it is produced app. 5% of all Ukrainian agricultural goods and 4,8 % of all Ukrainian industrial goods.

    Some of the regional branches of the industry take the leading places in the country. For instance, 41% of all trucks in Ukraine are produced by Kremenchuk holding company ‘AutoKraz’, besides 18,6 % of the general amount of electric motors, app. 8 % of metalcutters are also produced in Poltava region.

    A big focus is made to an introduction of nature - conservative technologies.

    The further social and economic development of the region is connected with the necessity of the development of such branches as: machine building, metalwork, power industry and instrument-making, light and food industry, oil and gas refining industry.

    In order to achieve those aims, regional administration has developed the list of programs and partially implemented them. To these programs belong: private enterprise state support, fuel sector development, agricultural sector development, investments attraction etc. Also according to these program, all foreign investors receive benefits on investing money to Poltava region.

    Since 2007 there have been adopted a program of tourism development according to which everyone who wants to invest their money in tourism will get special benefits and support from local administration.

                                                              Industry

    Top Poltava industrial branches are fuel industry, food industry, machine-building and metalwork. These branches constitute more than 80% of the general industrial production of the region.

    The main fuel-energy resources of the region are oil, gas distillate and natural gas. The largest oil and gas field of the region is Glynsk-Rozbyshevskyi oil and gas field (Lohvytsya and Gadyach districts).

    The top fuel industry enterprises of the region are an oil-and-gas production department ‘Poltavanaftogaz’and public corporation ‘Ukrnafta’, gas industrial department ‘Poltavagazdobych’. In 2000 Yablunevskyi gas-processing plant with the capacity of 96 tons per year was put into operation.

    Food industry of the region is represented with meat industry, milk-processing industry, sugar industry, baking industry, confectionary, fruit and vegetables packing industry, spirituous and alcoholic beverage industry, brewing trade, fat-and-oil industry, non-alcohol drinks production. 

    The top regional enterprises are represented with 6 meat-packing plants, 11 sugar-refineries, 2 confectionary plants, 7 milk plants, 4 cheese dairy plants, 3 milk products complexes, 3 oil-mil plants, 3 distilleries, 2 alcoholic beverage plants, 2 breweries, a range of baking and flour-and-cereals plants.

    The top machine-building and metal work enterprises are a concern ‘Kryukivskyi carriage-building plant’ and a holding company ‘Autokraz’. These companies are producing motor graders and front loaders, more than 20 sorts of heavy haulers, which are widely used in metal mining industry for industrial companies and electric power stations constructions, during timber cutting and in other branches, and also six-wheel motor vehicles with carrying capacity from 9 to 20 tons. 

    «plant’ represents a power machine building of the region. The plant is producing reserve parts for electric power station turbines, including for nuclear power-stations, compressors for diesel locomotives and electric locomotives, compressor stations for construction companies, oil cleaning machines for electric power stations and other enterprises .

    Poltava plant ‘Elelktromotor’ is one of the top electrotechnical machine-building companies of Ukraine. Its main production is electric engines, which are used by app. two thousand companies inside Ukraine and are exported to many countries.        

    There is also ‘Poltava diamond factory ’ in Poltava region which is the only enterprise of such type in Ukraine. The enterprise assortment is represented with goods made of extra-hard materials, diamond industry riggings etc.

                                                              Agriculture

    The base of the agrarian-industrial complex constitutes agriculture which is characterized by the well-developed grain, milk and technical crops production.    

    In 2006 Poltava agricultural enterprises reforming and upgrading were successfully completed. 540 agricultural enterprises of nongovernmental pattern of ownership out of 541 were reformed. On the base of these enterprises there have been created 640 enterprises of market pattern.

    In agricultural sector app. 2 million hectares of ground are used, 1.5 million hectares out of which are tillage.The most typical soil is the black earth, which covers 90 % of the general agricultural ground area.

    In Poltava region more than 20 kinds of crops are cultivated and 8 kinds of cattle and poultry are breed. In this area 30 pedigree cattle breeding enterprises and 35 white and Mirgorod pigs breeding enterprises are functioning. Scientists of the pig-breeding institute of Poltava have cultivated the Ukrainian meat breed of pigs which reach average daily growth of 750-800 grams while fodder costs per 1 kg of growth constitute 3,4-3,6 fodder units, which exceed the indices of existing breeds.    

    Poltava region is also famous for sheep breeding of unique sokolskyi species. Pedigree horse breeding is developing. Scientists of Poltava agricultural academy have cultivated new grain cultivars, characteristics of which are much higher than in traditional sorts of grain.