The favourable conditions of location of the Nikolaev region have made for creation of the powerful diversified industry, developed agroindustrial complex, extensive transport network, port economy, and creation of considerable manufacturing, scientific and social infrastructure on its territory.

211 industrial and more than 2,3 thousand small enterprises of all forms of ownership, more than 600 agricultural enterprises and 4,3 thousand farms constitute the economic potential of the region.

In 2005 industrial output increased by 7,1%, which is 4% more than the total Ukrainian showing. The total volume of the products sold made 26,6 billion Griven in 2005.
The region takes the first places in shipbuilding, gas turbine manufacturing, alumina, electrical energy, in growing of sunflower and grain.
The region is situated at the intersection of two international transport passages. During the whole history of Nikolaev, port infrastructure is one of the key factors of economic development.
Last year the enterprises of the Nikolaev region cooperated with the partners from 121 countries of the world. Export of goods and services of the enterprises and organizations of the Nikolaev region constituted 1007 million USA dollars in 2005, import made 507 million USA dollars. For the first five months of 2006 increase of exports made 99,4%, increase of imports made 112%.
The independent experts mention strong growth of investment attractiveness of the Nikolaev region. In the investment attractiveness rating of the regions of Ukraine drawn up by the Reform Institute according to the totals of 2005, the Nikolaev region rose by two points and took the 11th place.
Nikolaev enters into five the most attractive cities of Ukraine with the population less than 800 thousand people in the showing of effective purchase demand. In January-June 2006 turnover of retail trade built 2 165,5 million Griven.

Industry
The Nikolaev region is one of the dynamic developing regions of Ukraine. During January-June 2006 increase of industrial production constituted 9,2%. The industrial potential of the region is concentrated principally in five cities of regional subordination.

The city of Nikolaev is the centre of mechanical engineering, first of all, of shipbuilding and gas turbine manufacturing, non-ferrous metallurgy, food and light industry. More than 60 big industrial enterprises function here.
In Yuzhnoukrainsk there is a nuclear power station, which gives more than 35% of the industrial production of the region.
The industrial specialization of Pervomaysk is determined by manufacturing of engines and diesel-generators, agricultural accessories, production of sugar, tinned milk and ready-made garments.
Manufacturing of raw hides, footwear and ready-made garments is well-developed in the town of Voznesensk. Ochakov specializes in recreation branch and flavouring industry.
The Nikolaev Regional Chamber of Commerce and Industry unites the majority of the leading enterprises of the region.
Shipbuilding is the business card and one of the leading branches of the region. JSC “Damen Shipyards Ocean” have the largest production volume nowadays. Last time “Damen Shipyards Ocean” manufacture full-complete vessels for its customers: dry cargo ships, container vessels, tugboats.
The state enterprise “Shipbuilding plant named after 61 Communards” specialized in military shipbuilding formerly, and now it produces hulls of vessels by the orders of Norwegian and Spanish partners.
The holding Company “Black Sea Shipbuilding plant”, the biggest shipbuilding enterprise of Ukraine and the whole Europe, is also situated in Nikolaev. It includes engineering and metallurgical production, separated out into affiliated production units. JSC “Shipyard “Meridian” is also the part of the holding company.
The joint-stock companies “Era”, “Crystal”, “Equator” also belong to the shipbuilding branch of industry. The enterprises provide for production of manufacturing equipment for ships and vessels, and mount electric accessories thereon. Nikolaev managed to keep the scientific potential of the shipbuilding branch of industry: the National Shipbuilding University named after Makarov the admiral, a number of design institutes and organizations.
The pride of the whole region is the SE “Zorya” – “Mashproject” Scientific-Research Gas Turbine Manufacturing Complex. The Complex designs and manufactures gas-turbine engines, vessel power installations, and updated gas-compressor units for compressor plants. The production of the complex found the wide market in Russia, India and other countries.
The joint-stock company “Dieselmash” Pervomaysky plant” makes diesels, diesel-generators, and diesel-gas-generators.
The Plant for Lubricating and Filtering Equipment and the “Dormashina” works, which produces asphalt-pavers, are unique enterprises of such type in Ukraine, and they function in Nikolaev.
Non-ferrous metallurgy takes considerable place in the industrial potential of the region. It is represented by “Nikolaev Alumina Plant”, Ltd. In 2000 it was included in the workflow of RUSAL Company. “NAP” is one of the first-rate manufacturers of raw materials for aluminum industry in Europe, its productive capacity is 1,3 million t of alumina per year.
Light industry in the Nikolaev region provides for to 8,8% of volumes of the total light industrial production of Ukraine.
This branch of industry is represented by the big enterprises of clothing industry producing clothes for men, women and children: joint-stock company “Evis”, (Nikolaev), “Santa-Ukraine” (Pervomaysk), Production-Commercial Company “Victoria” (Voznesensk) and etc.
The most competitive company in the field of natural leather manufacturing is JSC “Vozko” (Voznesensk). Its share of production in the volume of leather goods in Ukraine reaches almost 50%. The widest recognition in the Ukrainian market and in the market of other countries was obtained by the “Velam” company in production of non-woven fabrics and ecologically clean mattresses.
The flavoring industry is well developed in the region. Its share makes more then 2,2% in national production. Milk reception and processing is made on 12 enterprises, the biggest of them are joint-stock companies “Laktalis-Ukraine”, and the “Pervomaysky Cannery”. Capacities of all enterprises are designed for output of 32 t of dairy butter, 270 t of products of whole milk and 96 thousand conditional dairy tins per day.
The certain leader of branch in the whole Ukraine is “Sandora” Company, it produces ordinary wines, juices and nectars. In 2005 “Sandora” produced 414 million juice packs, exported its production to 16 countries of the world. The company share in the total juice export volume of Ukraine is 47%. Voznesensky Cannery also exports its juices to the other countries of the world.
Wine-making industry is represented by JSC “Koblevo” and JSC “Radsad”. Their products are highly appreciated in the home and international competitions during the last years. The joint-stock Company “Zeleny Guy” increases production of cognac, as well.

Agriculture.
The total area of agricultural land in the Nikolaev region is more than 2 million ha. In the region there are about 200 thousand ha of irrigated land.

There is 1,3 ha of tilled soil per one inhabitant of the region, and there is more than 11 ha of plough-land per one agricultural worker.
These peculiarities of the Nikolaev region open wide possibilities for investment into agriculture with application of industrial technologies, powerful and high-effective machinery.
The agriculture of the region includes plant cultivation, where the main cultures are grain-crops (winter wheat, spring barley, maize), industrial crops – sunflower, sugar beet, vegetables, melons and gourds.
In 2005 in the Nikolaev region it was harvested 1763,4 thousand tons of grain crops and leguminous plants, 426,8 thsd. t of sunflower, 266,7 thsd. t of vegetables.
In 2006 the grain-growers of the region gathered 1 mln 855,7 thsd. t of early grain crops. Horticulture and viticulture are also well-developed because of favourable climate conditions. Animal husbandry is of meet and milk type mainly. According to the results of 2005 the farms with all kinds of ownership received 44,8 thsd.t of meat and 432,3 thsd. t of milk.