Ukraine has lost $280 billion in output during the six years of its ongoing war with Russia, according to the report published on Feb. 10 by the British think tank Centre for Economics and Business Research, or CEBR.
The new report studies the cost to Ukraine of Russia’s war on its territories during 2014-2020.
The findings show that the war has been costing Ukraine annually 19.9% of its pre-war GDP, or up to $40 billion a year since 2014.
Ukraine has lost $58 billion in output due to Russia’s illegal occupation of Crimea in 2014, along with $102 billion because of the ongoing war in the Donbas region in Ukraine’s east.
Overall, Russia’s war on Ukraine has had a major impact on Ukraine’s trade and investment, and has led “to substantial losses of assets and tax revenues,” of the country, the report reads.