Ratio of currency in circulation (CIC) to GDP of Ukraine 2010-2022
Coins and banknotes circulating in Ukraine's economy made up roughly roughly 12 percent of GDP in the country in 2017. This so-called CIC/GDP ratio roughly measures the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflects retail payments.
