War-Related Direct Losses of Ukrainian Businesses Reach $13B

Due to the Russian full-scale invasion, at least 109 large and medium-sized Ukrainian enterprises of various forms of ownership suffered direct losses, estimated at a total of $13 billion.

That’s according to a research run by Kyiv School of Economics (KSE).

"In 2022, at least 109 large and medium-sized enterprises suffered direct losses as a result of the full-scale invasion launched by Russia on February 24, 2022..... The total amount of direct losses of enterprises, including state-owned ones, and entrepreneurs is estimated at $13 billion, of which $9 billion is the share of losses of large and medium-sized enterprises," the report reads.

At the same time, total indirect losses reach $33.1 billion. According to the estimates made by the experts with KSE’s "Russia will pay" project, $24.9 billion will be needed to restore enterprises.

The majority of destroyed and damaged assets are concentrated in six regions: Kyiv and Donetsk (each 17% of the total), Zaporizhia (14%), Kharkiv (13%), Luhansk (10%), and Mykolaiv (8%).

Illich Mariupol Metallurgical Plant, Azovstal, Nibulon, and Motor Sich were among the largest enterprises in terms of assets that suffered direct losses as a result of Russia's armed aggression in 2022.

According to experts, 19 private and state-owned enterprises (17%) from among large and medium ones were completely destroyed, while another 90 (83%) were partially damaged.

As reported, as of December 2022, Ukrainian infrastructure has suffered war-related direct losses in the amount of $137.8 billion. Since November, the amount has increased by almost $2 billion.